Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Retail Properties of America, Inc. (NYSE:RPAI) by 1,668.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 651,843 shares of the real estate investment trust’s stock after acquiring an additional 614,988 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.28% of Retail Properties of America worth $7,959,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Nationwide Fund Advisors purchased a new stake in Retail Properties of America during the 1st quarter valued at $162,000. Comerica Bank purchased a new stake in Retail Properties of America during the 1st quarter valued at $156,000. Brookstone Capital Management purchased a new stake in Retail Properties of America during the 2nd quarter valued at $146,000. SG Americas Securities LLC raised its stake in Retail Properties of America by 3.5% during the 2nd 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 last quarter. Finally, First Financial Equity Corporation purchased a new stake in shares of Retail Properties of America in the 1st quarter worth $199,000. 78.99% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Gerald M. Gorski sold 4,790 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $13.59, for a total value of $65,096.10. Following the completion of the sale, the director now owns 46,907 shares in the company, valued at approximately $637,466.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.40% of the stock is owned by corporate insiders.

Shares of Retail Properties of America, Inc. (NYSE:RPAI) opened at 13.55 on Monday. The firm has a 50-day moving average of $13.27 and a 200 day moving average of $13.42. Retail Properties of America, Inc. has a 52 week low of $11.61 and a 52 week high of $17.35. The firm has a market capitalization of $3.12 billion, a P/E ratio of 17.15 and a beta of 0.44.

Retail Properties of America (NYSE:RPAI) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The firm had revenue of $137.34 million during the quarter, compared to analysts’ expectations of $135.81 million. Retail Properties of America had a net margin of 34.57% and a return on equity of 9.20%. Retail Properties of America’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 EPS. On average, equities research analysts expect that Retail Properties of America, Inc. will post $0.53 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 26th will be paid a dividend of $0.1656 per share. This represents a $0.66 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Monday, September 25th. Retail Properties of America’s dividend payout ratio is currently 82.50%.

Several research firms have recently commented on RPAI. BidaskClub upgraded Retail Properties of America from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research downgraded shares of Retail Properties of America from a “buy” rating to a “hold” rating in a report on Saturday, September 2nd. KeyCorp reissued a “hold” rating on shares of Retail Properties of America in a report on Friday, August 25th. Jefferies Group LLC reissued a “hold” rating and set a $13.00 price objective on shares of Retail Properties of America in a report on Tuesday, August 29th. Finally, ValuEngine cut shares of Retail Properties of America from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.75.

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Retail Properties of America 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.

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

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