Brookstone Capital Management purchased a new stake in shares of Retail Properties of America, Inc. (NYSE:RPAI) during the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 11,930 shares of the real estate investment trust’s stock, valued at approximately $146,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Nationwide Fund Advisors bought a new stake in Retail Properties of America during the first quarter valued at $162,000. Comerica Bank bought a new stake in Retail Properties of America during the first quarter valued at $156,000. SG Americas Securities LLC increased its stake in Retail Properties of America by 3.5% in the second quarter. SG Americas Securities LLC now owns 13,214 shares of the real estate investment trust’s stock valued at $161,000 after buying an additional 444 shares during the period. First Financial Equity Corporation bought a new stake in Retail Properties of America during the first quarter valued at $199,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Retail Properties of America by 5.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,922 shares of the real estate investment trust’s stock valued at $215,000 after buying an additional 785 shares during the period. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Retail Properties of America, Inc. (RPAI) opened at 12.97 on Wednesday. The firm has a 50 day moving average of $13.03 and a 200 day moving average of $13.53. The firm has a market cap of $2.99 billion, a P/E ratio of 16.42 and a beta of 0.47. Retail Properties of America, Inc. has a 1-year low of $11.61 and a 1-year high of $17.57.

Retail Properties of America (NYSE:RPAI) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The firm had revenue of $137.34 million for the quarter, compared to analyst estimates of $135.81 million. Retail Properties of America had a net margin of 34.57% and a return on equity of 9.20%. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 EPS. On average, equities research analysts expect that Retail Properties of America, Inc. will post $0.30 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 26th will be issued a $0.1656 dividend. This represents a $0.66 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend is Monday, September 25th. Retail Properties of America’s dividend payout ratio (DPR) is presently 82.50%.

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Several analysts recently weighed in on the stock. BidaskClub upgraded shares of Retail Properties of America from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Retail Properties of America from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. KeyCorp reiterated a “hold” rating on shares of Retail Properties of America in a report on Friday, August 25th. Jefferies Group LLC reiterated a “hold” rating and issued a $13.00 target price on shares of Retail Properties of America in a report on Tuesday. Finally, ValuEngine downgraded shares of Retail Properties of America from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $16.08.

Retail Properties of America Company Profile

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

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