Retail Properties of America Inc (RPAI) Holdings Lifted by Macquarie Group Ltd.

Macquarie Group Ltd. grew its stake in shares of Retail Properties of America Inc (NYSE:RPAI) by 96.5% in the 4th quarter, HoldingsChannel reports. The fund owned 1,115,023 shares of the real estate investment trust’s stock after purchasing an additional 547,510 shares during the quarter. Macquarie Group Ltd.’s holdings in Retail Properties of America were worth $18,753,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vident Investment Advisory LLC acquired a new position in Retail Properties of America during the 3rd quarter worth $135,000. Public Employees Retirement Association of Colorado grew its holdings in Retail Properties of America by 60.6% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 11,668 shares of the real estate investment trust’s stock worth $157,000 after acquiring an additional 4,403 shares in the last quarter. Wolverine Trading LLC acquired a new position in Retail Properties of America during the 3rd quarter worth $186,000. Capital Analysts LLC grew its holdings in Retail Properties of America by 808.6% during the 4th quarter. Capital Analysts LLC now owns 15,474 shares of the real estate investment trust’s stock worth $3,642,000 after acquiring an additional 13,771 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Retail Properties of America by 7.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,224 shares of the real estate investment trust’s stock worth $198,000 after acquiring an additional 1,079 shares in the last quarter. 81.11% of the stock is owned by institutional investors.

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Retail Properties of America stock opened at $11.37 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.81 and a quick ratio of 0.81. Retail Properties of America Inc has a 52-week low of $10.94 and a 52-week high of $14.70. The stock has a market cap of $2,494.86, a PE ratio of 10.73 and a beta of 0.31.

Retail Properties of America (NYSE:RPAI) last posted its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.23. Retail Properties of America had a net margin of 46.73% and a return on equity of 12.36%. The company had revenue of $126.59 million for the quarter, compared to the consensus estimate of $126.72 million. research analysts anticipate that Retail Properties of America Inc will post 1.01 earnings per share for the current year.

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

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Tuesday, March 27th will be given a $0.1656 dividend. The ex-dividend date of this dividend is Monday, March 26th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.83%. Retail Properties of America’s payout ratio is currently 63.46%.

Several research analysts have weighed in on RPAI shares. JPMorgan Chase & Co. raised shares of Retail Properties of America from a “neutral” rating to an “overweight” rating and set a $15.00 price objective for the company in a report on Friday, December 15th. Jefferies Group set a $14.00 price objective on shares of Retail Properties of America and gave the stock a “hold” rating in a report on Friday, December 15th. ValuEngine lowered shares of Retail Properties of America from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Boenning Scattergood set a $19.00 price objective on shares of Retail Properties of America and gave the stock a “buy” rating in a report on Thursday, February 15th. Finally, Zacks Investment Research lowered shares of Retail Properties of America from a “hold” rating to a “sell” rating in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $15.79.

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

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