Zacks Investment Research upgraded shares of Retail Properties of America, Inc. (NYSE:RPAI) from a hold rating to a buy rating in a report issued on Wednesday. Zacks Investment Research currently has $15.00 price objective on the real estate investment trust’s stock.

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. “

Several other brokerages have also recently weighed in on RPAI. BidaskClub upgraded Retail Properties of America from a hold rating to a buy rating in a research report on Wednesday, August 9th. KeyCorp reiterated a hold rating on shares of Retail Properties of America in a research report on Friday, August 25th. Jefferies Group LLC reiterated a hold rating and set a $13.00 price target on shares of Retail Properties of America in a research report on Tuesday, August 29th. Finally, Citigroup Inc. reiterated a buy rating and set a $15.00 price target (down from $16.00) on shares of Retail Properties of America in a research report on Monday, July 10th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Retail Properties of America presently has an average rating of Hold and an average price target of $15.10.

Retail Properties of America (RPAI) traded up 0.60% during trading on Wednesday, reaching $13.42. 1,543,037 shares of the company were exchanged. The firm’s 50 day moving average price is $13.31 and its 200-day moving average price is $13.15. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 16.99 and a beta of 0.44. Retail Properties of America has a one year low of $11.61 and a one year high of $16.10.

Retail Properties of America (NYSE:RPAI) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The business had revenue of $137.34 million for the quarter, compared to the consensus estimate of $135.81 million. Retail Properties of America had a net margin of 34.57% and a return on equity of 9.20%. The company’s revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 earnings per share. On average, equities research analysts predict that Retail Properties of America will post $0.51 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 26th were given a dividend of $0.1656 per share. This represents a $0.66 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend was Monday, September 25th. Retail Properties of America’s dividend payout ratio is presently 82.50%.

In related news, Director Gerald M. Gorski sold 4,790 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 46,907 shares in the company, valued at $637,466.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Nationwide Fund Advisors bought a new position in shares of Retail Properties of America in the first quarter worth approximately $162,000. Comerica Bank bought a new position in shares of Retail Properties of America in the first quarter worth approximately $156,000. Profund Advisors LLC bought a new position in shares of Retail Properties of America in the second quarter worth approximately $143,000. Brookstone Capital Management bought a new position in shares of Retail Properties of America in the second quarter worth approximately $146,000. Finally, Laurion Capital Management LP bought a new position in shares of Retail Properties of America in the second quarter worth approximately $153,000. Institutional investors own 78.91% of the company’s stock.

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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