RMR Advisors LLC Buys New Stake in Retail Properties of America Inc (RPAI)

RMR Advisors LLC bought a new position in shares of Retail Properties of America Inc (NYSE:RPAI) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,446 shares of the real estate investment trust’s stock, valued at approximately $164,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RPAI. Meeder Asset Management Inc. grew its position in shares of Retail Properties of America by 64.1% during the first quarter. Meeder Asset Management Inc. now owns 40,182 shares of the real estate investment trust’s stock worth $491,000 after acquiring an additional 15,692 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Retail Properties of America in the first quarter worth approximately $254,000. Timbercreek Investment Management Inc. lifted its position in shares of Retail Properties of America by 27.6% in the first quarter. Timbercreek Investment Management Inc. now owns 911,733 shares of the real estate investment trust’s stock worth $11,114,000 after purchasing an additional 197,347 shares in the last quarter. Chartwell Investment Partners LLC lifted its position in shares of Retail Properties of America by 261.7% in the first quarter. Chartwell Investment Partners LLC now owns 779,816 shares of the real estate investment trust’s stock worth $9,506,000 after purchasing an additional 564,218 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of Retail Properties of America by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 94,242 shares of the real estate investment trust’s stock worth $1,147,000 after purchasing an additional 840 shares in the last quarter. Institutional investors own 84.54% of the company’s stock.

RPAI stock traded down $0.02 during midday trading on Wednesday, hitting $12.08. 18,928 shares of the company traded hands, compared to its average volume of 1,437,951. Retail Properties of America Inc has a twelve month low of $10.57 and a twelve month high of $13.40. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.93. The company has a market cap of $2.66 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 3.60 and a beta of 0.57.

Retail Properties of America (NYSE:RPAI) last issued its earnings results on Tuesday, February 12th. The real estate investment trust reported $0.26 EPS for the quarter, topping the consensus estimate of $0.25 by $0.01. Retail Properties of America had a return on equity of 4.24% and a net margin of 16.09%. The firm had revenue of $119.30 million during the quarter, compared to analysts’ expectations of $119.77 million. During the same period last year, the business earned $0.25 earnings per share. Retail Properties of America’s quarterly revenue was down 5.7% compared to the same quarter last year. As a group, equities analysts expect that Retail Properties of America Inc will post 1.05 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Wednesday, March 27th were given a $0.1656 dividend. The ex-dividend date was Tuesday, March 26th. This represents a $0.66 dividend on an annualized basis and a yield of 5.48%. Retail Properties of America’s payout ratio is 64.08%.

A number of equities analysts recently commented on RPAI shares. Zacks Investment Research upgraded Retail Properties of America from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Tuesday, April 2nd. KeyCorp set a $15.00 price target on Retail Properties of America and gave the company a “buy” rating in a report on Thursday, December 20th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Retail Properties of America currently has an average rating of “Buy” and a consensus price target of $14.43.

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About Retail Properties of America

Retail Properties of America, Inc is a REIT that owns and operates high quality, strategically located open-air shopping centers, including properties with a mixed-use component. As of December 31, 2018, the Company owned 105 retail operating properties in the United States representing 20.1 million square feet.

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Institutional Ownership by Quarter for Retail Properties of America (NYSE:RPAI)

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