Retail Properties of America, Inc. (NYSE:RPAI) posted its earnings results on Tuesday. The real estate investment trust reported $0.27 EPS for the quarter, beating the consensus estimate of $0.26 by $0.01, Bloomberg Earnings reports. Retail Properties of America had a return on equity of 5.14% and a net margin of 19.08%. The company had revenue of $137.34 million for the quarter, compared to the consensus estimate of $135.81 million. During the same quarter in the prior year, the business earned $0.31 earnings per share. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. Retail Properties of America updated its FY17 guidance to $1.00 to $1.05 EPS.
Shares of Retail Properties of America (RPAI) traded down 0.59% on Wednesday, hitting $13.40. The stock had a trading volume of 1,028,345 shares. Retail Properties of America has a 1-year low of $11.61 and a 1-year high of $17.59. The company has a market capitalization of $3.17 billion, a PE ratio of 31.83 and a beta of 0.46. The firm has a 50-day moving average of $12.55 and a 200 day moving average of $13.72.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 26th will be paid a $0.1656 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date is Monday, September 25th. Retail Properties of America’s payout ratio is 153.49%.
Several research firms have recently commented on RPAI. Citigroup Inc. reaffirmed a “buy” rating and issued a $15.00 target price (down previously from $16.00) on shares of Retail Properties of America in a research report on Monday, July 10th. BidaskClub upgraded Retail Properties of America from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $13.00 price target on shares of Retail Properties of America in a research note on Tuesday, June 20th. ValuEngine cut Retail Properties of America from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research cut Retail Properties of America from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $16.08.
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In related news, Director Thomas J. Sargeant acquired 3,900 shares of the company’s stock in a transaction dated Tuesday, May 9th. The stock was bought at an average cost of $12.82 per share, with a total value of $49,998.00. Following the acquisition, the director now owns 39,392 shares of the company’s stock, valued at approximately $505,005.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard P. Imperiale acquired 4,500 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were bought at an average cost of $12.61 per share, with a total value of $56,745.00. Following the completion of the acquisition, the director now directly owns 37,602 shares in the company, valued at approximately $474,161.22. The disclosure for this purchase can be found here. Insiders have bought a total of 10,450 shares of company stock valued at $132,717 over the last ninety days. 0.40% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Paragon Capital Management Ltd acquired a new stake in Retail Properties of America during the first quarter valued at $155,000. Comerica Bank acquired a new stake in Retail Properties of America during the first quarter valued at $156,000. Nationwide Fund Advisors acquired a new stake in Retail Properties of America during the first quarter valued at $162,000. IFC Holdings Incorporated FL acquired a new stake in Retail Properties of America during the first quarter valued at $177,000. Finally, Sigma Planning Corp increased its stake in Retail Properties of America by 8.1% in the second quarter. Sigma Planning Corp now owns 15,366 shares of the real estate investment trust’s stock valued at $188,000 after buying an additional 1,151 shares in the last quarter. 77.56% of the stock is owned by institutional investors and hedge funds.
About Retail Properties of America
Retail Properties of America, Inc is a real estate investment trust (REIT). The Company owns and operates shopping centers located in the United States. As of December 31, 2016, it owned 156 retail operating properties representing 25,832,000 square feet of gross leasable area (GLA). Its retail operating portfolio includes neighborhood and community centers, power centers, and lifestyle centers and multi-tenant retail-focused mixed-use properties, as well as single-user retail properties.
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