Eii Capital Management Inc. cut its stake in shares of Retail Properties of America, Inc. (NYSE:RPAI) by 34.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 285,100 shares of the real estate investment trust’s stock after selling 151,400 shares during the period. Retail Properties of America comprises 1.2% of Eii Capital Management Inc.’s portfolio, making the stock its 29th largest position. Eii Capital Management Inc. owned approximately 0.12% of Retail Properties of America worth $3,481,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp raised its position in shares of Retail Properties of America by 26.3% in the first quarter. Bank of New York Mellon Corp now owns 1,498,447 shares of the real estate investment trust’s stock valued at $21,607,000 after buying an additional 311,810 shares during the period. AEW Capital Management L P raised its position in shares of Retail Properties of America by 17.1% in the first quarter. AEW Capital Management L P now owns 5,689,800 shares of the real estate investment trust’s stock valued at $82,047,000 after buying an additional 830,500 shares during the period. Capital Fund Management S.A. raised its position in shares of Retail Properties of America by 80.3% in the first quarter. Capital Fund Management S.A. now owns 578,444 shares of the real estate investment trust’s stock valued at $8,341,000 after buying an additional 257,608 shares during the period. First Trust Advisors LP raised its position in shares of Retail Properties of America by 15.3% in the first quarter. First Trust Advisors LP now owns 214,231 shares of the real estate investment trust’s stock valued at $3,089,000 after buying an additional 28,497 shares during the period. Finally, LSV Asset Management raised its position in shares of Retail Properties of America by 0.9% in the first quarter. LSV Asset Management now owns 879,800 shares of the real estate investment trust’s stock valued at $12,686,000 after buying an additional 7,800 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 12.96 on Wednesday. Retail Properties of America, Inc. has a 12 month low of $11.61 and a 12 month high of $17.57. The stock’s 50 day moving average price is $13.03 and its 200-day moving average price is $13.53. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 16.41 and a beta of 0.47.

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

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

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Several brokerages have issued reports on RPAI. BidaskClub raised Retail Properties of America from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research lowered Retail Properties of America from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. KeyCorp reissued a “hold” rating on shares of Retail Properties of America in a research note on Friday, August 25th. Jefferies Group LLC reissued a “hold” rating and issued a $13.00 price target on shares of Retail Properties of America in a research note on Tuesday. Finally, ValuEngine lowered Retail Properties of America from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Retail Properties of America presently has a consensus rating of “Hold” and an average target price of $16.08.

About Retail Properties of America

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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