Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Retail Properties of America Inc (NYSE:RPAI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 169,425 shares of the real estate investment trust’s stock, valued at approximately $2,165,000. Connor Clark & Lunn Investment Management Ltd. owned 0.08% of Retail Properties of America at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of RPAI. Element Capital Management LLC acquired a new stake in shares of Retail Properties of America in the 1st quarter valued at $118,000. Assetmark Inc. boosted its holdings in shares of Retail Properties of America by 1,064.5% in the 1st quarter. Assetmark Inc. now owns 10,981 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 10,038 shares in the last quarter. RFG Advisory Group LLC acquired a new stake in shares of Retail Properties of America in the 2nd quarter valued at $143,000. Symons Capital Management Inc. acquired a new stake in shares of Retail Properties of America in the 1st quarter valued at $145,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Retail Properties of America in the 1st quarter valued at $146,000. Hedge funds and other institutional investors own 81.59% of the company’s stock.

Shares of RPAI stock opened at $12.11 on Tuesday. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 11.42 and a beta of 0.30. Retail Properties of America Inc has a fifty-two week low of $10.84 and a fifty-two week high of $13.78. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.02.

Retail Properties of America (NYSE:RPAI) last issued its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.20). Retail Properties of America had a net margin of 39.61% and a return on equity of 10.31%. The business had revenue of $119.16 million during the quarter, compared to analyst estimates of $120.92 million. analysts forecast that Retail Properties of America Inc will post 1.01 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 10th. Investors of record on Tuesday, September 25th will be issued a dividend of $0.166 per share. This represents a $0.66 annualized dividend and a dividend yield of 5.48%. The ex-dividend date is Monday, September 24th. Retail Properties of America’s dividend payout ratio (DPR) is 62.26%.

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. downgraded Retail Properties of America from an “overweight” rating to a “neutral” rating in a report on Friday, June 15th. ValuEngine raised Retail Properties of America from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. Jefferies Financial Group set a $13.00 target price on Retail Properties of America and gave the company a “hold” rating in a report on Tuesday, July 17th. Zacks Investment Research downgraded Retail Properties of America from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th. Finally, Boenning Scattergood set a $16.00 target price on Retail Properties of America and gave the company a “buy” rating in a report on Thursday, May 3rd. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $15.36.

Retail Properties of America Company Profile

Retail Properties of America, Inc is a REIT that owns and operates high quality, strategically located shopping centers in the United States. As of March 31, 2018, the Company owned 106 retail operating properties representing 19.5 million square feet. The Company is publicly traded on the New York Stock Exchange under the ticker symbol RPAI.

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

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