Retail Properties of America, Inc. (NYSE:RPAI) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.00 to $1.05 for the period, compared to the Thomson Reuters consensus estimate of $0.96.
A number of research firms have commented on RPAI. BidaskClub upgraded Retail Properties of America from a hold rating to a buy rating in a research note on Wednesday. Citigroup Inc. reiterated a buy rating and set a $15.00 target price (down from $16.00) on shares of Retail Properties of America in a research report on Monday, July 10th. Jefferies Group LLC reiterated a hold rating and set a $13.00 target price on shares of Retail Properties of America in a research report on Tuesday, June 20th. ValuEngine downgraded Retail Properties of America from a buy rating to a hold rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research downgraded Retail Properties of America from a hold rating to a sell rating in a research report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $16.08.
Shares of Retail Properties of America, Inc. (NYSE RPAI) traded down 1.42% on Friday, hitting $13.19. The company’s stock had a trading volume of 1,160,947 shares. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 16.70 and a beta of 0.47. The stock has a 50-day moving average price of $12.79 and a 200 day moving average price of $13.66. Retail Properties of America, Inc. has a one year low of $11.61 and a one year high of $17.57.
Retail Properties of America (NYSE:RPAI) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. The business had revenue of $137.34 million during the quarter, compared to analysts’ expectations of $135.81 million. Retail Properties of America had a net margin of 34.57% and a return on equity of 9.20%. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period last year, the company posted $0.31 earnings per share. Equities research analysts predict that Retail Properties of America, Inc. will post $0.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders 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 yield of 5.02%. The ex-dividend date of this dividend is Monday, September 25th. Retail Properties of America’s dividend payout ratio (DPR) is presently 82.50%.
In other news, COO Shane C. Garrison sold 1,000 shares of Retail Properties of America stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $25.56, for a total value of $25,560.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard P. Imperiale purchased 4,500 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was purchased at an average cost of $12.61 per share, for a total transaction of $56,745.00. Following the transaction, the director now owns 37,602 shares of the company’s stock, valued at $474,161.22. The disclosure for this purchase can be found here. 0.41% of the stock is owned by insiders.
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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