Capital One Financial Weighs in on Retail Properties of America Inc’s FY2017 Earnings (RPAI)

Retail Properties of America Inc (NYSE:RPAI) – Capital One Financial lowered their FY2017 earnings estimates for Retail Properties of America in a report issued on Monday. Capital One Financial analyst C. Lucas now forecasts that the real estate investment trust will earn $1.05 per share for the year, down from their previous estimate of $1.06. Capital One Financial also issued estimates for Retail Properties of America’s Q1 2018 earnings at $0.24 EPS, Q2 2018 earnings at $0.25 EPS, Q3 2018 earnings at $0.25 EPS, Q4 2018 earnings at $0.26 EPS, FY2018 earnings at $1.00 EPS and FY2019 earnings at $1.16 EPS.

Other equities analysts have also issued reports about the company. Boenning Scattergood set a $19.00 target price on Retail Properties of America and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird reaffirmed a “buy” rating and issued a $18.00 target price on shares of Retail Properties of America in a research report on Wednesday, November 1st. Zacks Investment Research lowered Retail Properties of America from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Jefferies Group set a $14.00 target price on Retail Properties of America and gave the company a “hold” rating in a research report on Friday, December 15th. Finally, ValuEngine lowered Retail Properties of America from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $16.00.

Retail Properties of America (RPAI) opened at $11.89 on Wednesday. The firm has a market capitalization of $2,600.29, a P/E ratio of 11.43 and a beta of 0.32. Retail Properties of America has a fifty-two week low of $10.94 and a fifty-two week high of $15.81. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.89 and a quick ratio of 0.89.

Retail Properties of America declared that its board has initiated a stock buyback program on Thursday, December 14th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Tuesday, March 27th will be given a dividend of $0.1656 per share. This represents a $0.66 annualized dividend and a dividend yield of 5.57%. The ex-dividend date of this dividend is Monday, March 26th. Retail Properties of America’s dividend payout ratio is currently 63.46%.

Several hedge funds have recently bought and sold shares of RPAI. State Street Corp grew its stake in Retail Properties of America by 1.0% during the 2nd quarter. State Street Corp now owns 7,679,197 shares of the real estate investment trust’s stock worth $93,762,000 after buying an additional 73,268 shares during the last quarter. AEW Capital Management L P grew its stake in Retail Properties of America by 5.8% during the 4th quarter. AEW Capital Management L P now owns 6,631,593 shares of the real estate investment trust’s stock worth $89,129,000 after buying an additional 365,800 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Retail Properties of America by 5.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 5,278,371 shares of the real estate investment trust’s stock worth $70,942,000 after buying an additional 268,343 shares during the last quarter. Renaissance Technologies LLC grew its stake in Retail Properties of America by 39.4% during the 4th quarter. Renaissance Technologies LLC now owns 5,154,055 shares of the real estate investment trust’s stock worth $69,270,000 after buying an additional 1,455,955 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Retail Properties of America by 91.2% during the 4th quarter. Millennium Management LLC now owns 3,421,897 shares of the real estate investment trust’s stock worth $45,990,000 after buying an additional 1,632,224 shares during the last quarter. 79.35% of the stock is currently owned by institutional investors and hedge funds.

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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.

Earnings History and Estimates for Retail Properties of America (NYSE:RPAI)

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