Retail Properties of America, Inc. (NYSE:RPAI) announced a quarterly dividend on Friday, October 27th, Wall Street Journal reports. Stockholders of record on Wednesday, December 27th will be given a dividend of 0.1656 per share by the real estate investment trust on Wednesday, January 10th. This represents a $0.66 annualized dividend and a dividend yield of 5.13%. The ex-dividend date is Friday, December 22nd.
Retail Properties of America has a dividend payout ratio of 63.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Retail Properties of America to earn $1.04 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 63.5%.
Retail Properties of America (NYSE:RPAI) traded up $0.08 on Friday, hitting $12.92. The stock had a trading volume of 1,875,300 shares, compared to its average volume of 1,833,698. The company has a market cap of $2,983.78, a price-to-earnings ratio of 12.19 and a beta of 0.48. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. Retail Properties of America has a 1-year low of $11.61 and a 1-year high of $15.81.
Retail Properties of America (NYSE:RPAI) last issued its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. The business had revenue of $130.52 million during the quarter, compared to analysts’ expectations of $132.45 million. Retail Properties of America had a return on equity of 7.61% and a net margin of 28.84%. Retail Properties of America’s revenue was down 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. equities research analysts expect that Retail Properties of America will post 1.04 EPS for the current fiscal year.
A number of analysts recently issued reports on RPAI shares. Zacks Investment Research raised Retail Properties of America from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Wednesday, October 11th. BidaskClub lowered Retail Properties of America from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 16th. Boenning Scattergood restated a “buy” rating and set a $18.50 target price on shares of Retail Properties of America in a report on Thursday, November 2nd. Robert W. Baird reiterated a “buy” rating and issued a $18.00 price objective on shares of Retail Properties of America in a research note on Wednesday, November 1st. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $13.00 price objective on shares of Retail Properties of America in a research note on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.00.
In other Retail Properties of America news, Director Gerald M. Gorski sold 4,790 shares of Retail Properties of America stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $13.59, for a total transaction of $65,096.10. Following the sale, the director now directly owns 46,907 shares of the company’s stock, valued at $637,466.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is currently owned by insiders.
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Retail Properties of America Company 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.
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