Zacks Investment Research Lowers Retail Properties of America (NYSE:RPAI) to Hold

Retail Properties of America (NYSE:RPAI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

According to Zacks, “Retail Properties of America, Inc. is a real estate investment trust that owns and operates shopping centers in the United States. Its retail-operating portfolio includes power centers, community centers, neighborhood centers, lifestyle centers and single-user retail properties. The Company’s retail properties are primarily located in retail districts. Retail Properties of America, Inc. is headquartered in Oak Brook, IL. “

Other equities research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Retail Properties of America from a “strong sell” rating to a “sell” rating in a research report on Friday, October 25th. Compass Point initiated coverage on shares of Retail Properties of America in a report on Thursday, August 15th. They set a “neutral” rating and a $12.00 price target for the company.

Shares of NYSE:RPAI opened at $13.89 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.89 and a quick ratio of 0.89. The business’s fifty day moving average price is $13.76 and its two-hundred day moving average price is $12.39. Retail Properties of America has a fifty-two week low of $10.57 and a fifty-two week high of $14.30. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 9.63 and a beta of 0.53.

Retail Properties of America (NYSE:RPAI) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. Retail Properties of America had a return on equity of 2.17% and a net margin of 5.91%. The company had revenue of $119.71 million during the quarter, compared to analysts’ expectations of $118.71 million. During the same period last year, the business earned $0.25 earnings per share. The business’s revenue was up .5% on a year-over-year basis. Research analysts expect that Retail Properties of America will post 1.06 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Marshall Wace North America L.P. acquired a new position in Retail Properties of America during the 1st quarter worth about $33,000. AE Wealth Management LLC bought a new position in shares of Retail Properties of America in the second quarter worth about $353,000. Virginia Retirement Systems ET AL lifted its position in shares of Retail Properties of America by 1.2% during the second quarter. Virginia Retirement Systems ET AL now owns 248,030 shares of the real estate investment trust’s stock worth $2,917,000 after purchasing an additional 3,000 shares in the last quarter. Systematic Financial Management LP acquired a new position in shares of Retail Properties of America during the second quarter worth approximately $892,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Retail Properties of America by 78.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 253,519 shares of the real estate investment trust’s stock valued at $2,981,000 after purchasing an additional 111,070 shares during the last quarter. Institutional investors own 87.33% 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 December 31, 2018, the Company owned 105 retail operating properties in the United States representing 20.1 million square feet.

Featured Article: What is a Reverse Stock Split?

Get a free copy of the Zacks research report on Retail Properties of America (RPAI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Retail Properties of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Retail Properties of America and related companies with MarketBeat.com's FREE daily email newsletter.