Wall Street brokerages predict that Retail Properties of America Inc (NYSE:RPAI) will post $118.76 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Retail Properties of America’s earnings. The lowest sales estimate is $117.22 million and the highest is $120.46 million. Retail Properties of America posted sales of $130.52 million in the same quarter last year, which would indicate a negative year over year growth rate of 9%. The company is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, October 30th.
According to Zacks, analysts expect that Retail Properties of America will report full-year sales of $481.72 million for the current financial year, with estimates ranging from $476.79 million to $485.29 million. For the next fiscal year, analysts anticipate that the firm will post sales of $489.60 million, with estimates ranging from $479.31 million to $503.79 million. Zacks’ sales averages are an average based on a survey of analysts that follow Retail Properties of America.
Retail Properties of America (NYSE:RPAI) last announced its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.20). Retail Properties of America had a return on equity of 10.31% and a net margin of 39.61%. The business had revenue of $119.16 million for the quarter, compared to analyst estimates of $120.92 million.
RPAI traded down $0.22 on Monday, hitting $11.80. 1,429,732 shares of the company’s stock were exchanged, compared to its average volume of 2,106,004. Retail Properties of America has a fifty-two week low of $10.84 and a fifty-two week high of $13.60. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.82. The stock has a market cap of $2.64 billion, a PE ratio of 11.13 and a beta of 0.25.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Stockholders of record on Thursday, December 27th will be issued a dividend of $0.166 per share. The ex-dividend date is Wednesday, December 26th. This represents a $0.66 annualized dividend and a dividend yield of 5.63%. Retail Properties of America’s dividend payout ratio is presently 62.26%.
In other news, Director Gerald M. Gorski sold 3,962 shares of Retail Properties of America stock in a transaction on Friday, September 14th. The stock was sold at an average price of $12.61, for a total transaction of $49,960.82. Following the transaction, the director now owns 55,129 shares in the company, valued at approximately $695,176.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.49% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Element Capital Management LLC purchased a new position in shares of Retail Properties of America during the 1st quarter worth $118,000. Commonwealth Bank of Australia raised its holdings in Retail Properties of America by 67.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 10,366 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 4,166 shares during the period. RFG Advisory Group LLC purchased a new stake in Retail Properties of America in the 2nd quarter valued at about $143,000. ARP Americas LP purchased a new stake in Retail Properties of America in the 2nd quarter valued at about $206,000. Finally, Hartford Investment Management Co. purchased a new stake in Retail Properties of America in the 2nd quarter valued at about $247,000. Institutional investors and hedge funds own 82.10% of the company’s stock.
Retail Properties of America Company Profile
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 June 30, 2018, the Company owned 105 retail operating properties in the United States representing 19.5 million square feet.
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