Zacks Investment Research Upgrades Retail Properties of America (NYSE:RPAI) to Buy

Retail Properties of America (NYSE:RPAI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The brokerage presently has a $15.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 16.37% from the company’s current price.

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. “

Separately, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Retail Properties of America from $12.00 to $14.00 and gave the company a “hold” rating in a research report on Tuesday, June 8th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.00.

Retail Properties of America stock opened at $12.89 on Wednesday. Retail Properties of America has a fifty-two week low of $5.14 and a fifty-two week high of $13.57. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.69 and a quick ratio of 1.69. The firm has a market capitalization of $2.77 billion, a PE ratio of 143.22 and a beta of 1.77. The company’s 50-day moving average is $12.46 and its 200-day moving average is $11.87.

Retail Properties of America (NYSE:RPAI) last released its quarterly earnings data on Monday, August 2nd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.08. Retail Properties of America had a return on equity of 1.24% and a net margin of 4.32%. As a group, analysts expect that Retail Properties of America will post 0.92 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of RPAI. Morgan Stanley increased its position in Retail Properties of America by 342.0% in the 1st quarter. Morgan Stanley now owns 3,111,283 shares of the real estate investment trust’s stock valued at $32,605,000 after acquiring an additional 2,407,328 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Retail Properties of America by 209.7% in the 1st quarter. Russell Investments Group Ltd. now owns 3,286,782 shares of the real estate investment trust’s stock worth $34,443,000 after purchasing an additional 2,225,611 shares during the period. Kempen Capital Management N.V. bought a new stake in shares of Retail Properties of America in the 2nd quarter valued at $10,545,000. JPMorgan Chase & Co. increased its position in shares of Retail Properties of America by 25.7% during the second quarter. JPMorgan Chase & Co. now owns 4,399,427 shares of the real estate investment trust’s stock worth $50,374,000 after buying an additional 900,776 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in Retail Properties of America by 57.2% during the second quarter. Nuveen Asset Management LLC now owns 1,642,463 shares of the real estate investment trust’s stock worth $18,806,000 after buying an additional 597,571 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

About Retail Properties of America

Retail Properties of America, Inc operates as a real estate investment trust. The firm’s retail operating portfolio includes: power centers; neighborhood and community centers; and lifestyle centers and multi-tenant retail-focused mixed-use properties, as well as single-user retail properties. The company was founded on March 5, 2003 and is headquartered in Oak Brook, IL.

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