Retail Properties of America Inc (NYSE:RPAI) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 3,874,410 shares, an increase of 63.0% from the January 12th total of 2,377,645 shares. Approximately 1.7% of the company’s stock are short sold. Based on an average daily volume of 2,188,839 shares, the short-interest ratio is presently 1.8 days.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC raised its holdings in Retail Properties of America by 1.1% in the second quarter. HighTower Advisors LLC now owns 22,179 shares of the real estate investment trust’s stock valued at $273,000 after acquiring an additional 248 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Retail Properties of America by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 16,224 shares of the real estate investment trust’s stock valued at $198,000 after acquiring an additional 1,079 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Retail Properties of America by 11.6% in the third quarter. Pacer Advisors Inc. now owns 42,376 shares of the real estate investment trust’s stock valued at $556,000 after acquiring an additional 4,403 shares in the last quarter. Public Employees Retirement Association of Colorado raised its holdings in Retail Properties of America by 60.6% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 11,668 shares of the real estate investment trust’s stock valued at $157,000 after acquiring an additional 4,403 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in Retail Properties of America by 19.0% in the third quarter. Cubist Systematic Strategies LLC now owns 31,097 shares of the real estate investment trust’s stock valued at $408,000 after acquiring an additional 4,956 shares in the last quarter. 79.35% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Retail Properties of America (NYSE RPAI) opened at $11.45 on Wednesday. The stock has a market cap of $2,575.31, a price-to-earnings ratio of 17.62 and a beta of 0.32. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.84. Retail Properties of America has a twelve month low of $10.94 and a twelve month high of $15.81.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Tuesday, March 27th will be issued a $0.1656 dividend. The ex-dividend date is Monday, March 26th. This represents a $0.66 annualized dividend and a yield of 5.79%. Retail Properties of America’s dividend payout ratio is presently 101.54%.

Retail Properties of America announced that its board has initiated a stock repurchase plan on Thursday, December 14th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

A number of research analysts have recently commented on RPAI shares. Boenning Scattergood reissued a “buy” rating and set a $18.50 target price on shares of Retail Properties of America in a research report on Thursday, November 2nd. ValuEngine cut shares of Retail Properties of America from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Robert W. Baird reissued a “buy” rating and set a $18.00 target price on shares of Retail Properties of America in a research report on Wednesday, November 1st. Jefferies Group set a $14.00 target price on shares of Retail Properties of America and gave the stock a “hold” rating in a research report on Friday, December 15th. Finally, JPMorgan Chase & Co. raised shares of Retail Properties of America from a “neutral” rating to an “overweight” rating and set a $15.00 target price on the stock in a research report on Friday, December 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.93.

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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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