Paragon Capital Management Ltd raised its position in Retail Properties of America, Inc. (NYSE:RPAI) by 62.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,422 shares of the real estate investment trust’s stock after buying an additional 6,665 shares during the period. Paragon Capital Management Ltd’s holdings in Retail Properties of America were worth $213,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in RPAI. BlackRock Inc. raised its position in Retail Properties of America by 2,354.6% in the first quarter. BlackRock Inc. now owns 18,340,329 shares of the real estate investment trust’s stock worth $264,469,000 after buying an additional 17,593,152 shares during the period. APG Asset Management US Inc. purchased a new position in Retail Properties of America during the first quarter worth $47,615,000. State Street Corp raised its position in Retail Properties of America by 56.2% in the first quarter. State Street Corp now owns 7,605,929 shares of the real estate investment trust’s stock worth $109,678,000 after buying an additional 2,736,360 shares during the period. Schwab Charles Investment Management Inc. raised its position in Retail Properties of America by 54.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 4,615,283 shares of the real estate investment trust’s stock worth $66,553,000 after buying an additional 1,620,610 shares during the period. Finally, Vanguard Group Inc. raised its position in Retail Properties of America by 2.6% in the first quarter. Vanguard Group Inc. now owns 37,476,808 shares of the real estate investment trust’s stock worth $540,416,000 after buying an additional 943,974 shares during the period. Institutional investors and hedge funds own 77.59% of the company’s stock.
Shares of Retail Properties of America, Inc. (NYSE RPAI) remained flat at $13.56 during midday trading on Wednesday. The company’s stock had a trading volume of 1,319,290 shares. The stock has a market capitalization of $3.18 billion, a PE ratio of 17.16 and a beta of 0.47. The firm’s 50 day moving average price is $12.59 and its 200 day moving average price is $13.72. Retail Properties of America, Inc. has a 52 week low of $11.61 and a 52 week high of $17.57.
Retail Properties of America (NYSE:RPAI) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Retail Properties of America had a return on equity of 9.20% and a net margin of 34.57%. The business had revenue of $137.34 million during the quarter, compared to analysts’ expectations of $135.81 million. During the same period in the previous year, the firm earned $0.31 earnings per share. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. Equities research analysts forecast that Retail Properties of America, Inc. will post $0.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 26th will be paid a dividend of $0.1656 per share. The ex-dividend date of this dividend is Monday, September 25th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.89%. Retail Properties of America’s dividend payout ratio (DPR) is presently 82.50%.
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A number of equities analysts recently weighed in on RPAI shares. Zacks Investment Research lowered shares of Retail Properties of America from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. ValuEngine lowered shares of Retail Properties of America from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Jefferies Group LLC lifted their price objective on shares of Retail Properties of America to $16.00 and gave the company a “hold” rating in a research report on Monday, June 5th. Citigroup Inc. reiterated a “buy” rating and issued a $16.00 price objective (down from $18.00) on shares of Retail Properties of America in a research report on Tuesday, June 6th. Finally, BidaskClub upgraded shares of Retail Properties of America from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $16.08.
In other Retail Properties of America news, Director Richard P. Imperiale bought 4,500 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was purchased at an average cost of $12.61 per share, with a total value of $56,745.00. Following the completion of the purchase, the director now owns 37,602 shares in the company, valued at $474,161.22. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Shane C. Garrison sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $25.56, for a total value of $25,560.00. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.
Retail Properties of America Company Profile
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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