Geode Capital Management LLC Has $31.85 Million Position in Retail Properties of America, Inc. (NYSE:RPAI)

Geode Capital Management LLC raised its stake in Retail Properties of America, Inc. (NYSE:RPAI) by 26.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,208,630 shares of the real estate investment trust’s stock after buying an additional 457,401 shares during the period. Geode Capital Management LLC owned about 0.93% of Retail Properties of America worth $31,848,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in RPAI. Paragon Capital Management Ltd purchased a new stake in Retail Properties of America during the first quarter valued at $155,000. Cigna Investments Inc. New purchased a new stake in Retail Properties of America during the fourth quarter valued at $168,000. Nationwide Fund Advisors purchased a new stake in Retail Properties of America during the first quarter valued at $162,000. Comerica Bank purchased a new stake in Retail Properties of America during the first quarter valued at $156,000. Finally, IFC Holdings Incorporated FL purchased a new stake in Retail Properties of America during the first quarter valued at $177,000. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Shares of Retail Properties of America, Inc. (NYSE RPAI) traded down 0.96% during mid-day trading on Friday, hitting $13.41. The stock had a trading volume of 3,051,022 shares. The firm has a 50 day moving average price of $12.51 and a 200 day moving average price of $13.77. The firm has a market cap of $3.17 billion, a PE ratio of 31.85 and a beta of 0.45. Retail Properties of America, Inc. has a 52-week low of $11.61 and a 52-week high of $17.78.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 26th will be issued a dividend of $0.1656 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend is Monday, September 25th. Retail Properties of America’s dividend payout ratio is currently 153.49%.

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Several research firms have weighed in on RPAI. Zacks Investment Research downgraded Retail Properties of America from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. BidaskClub upgraded Retail Properties of America from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. ValuEngine downgraded Retail Properties of America from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Jefferies Group LLC boosted their price target on Retail Properties of America to $16.00 and gave the company a “hold” rating in a research note on Monday, June 5th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $16.00 price target (down previously from $18.00) on shares of Retail Properties of America in a research note on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Retail Properties of America currently has an average rating of “Hold” and an average target price of $16.08.

In other Retail Properties of America news, Director Thomas J. Sargeant acquired 3,900 shares of the stock in a transaction on Tuesday, May 9th. The shares were bought at an average price of $12.82 per share, with a total value of $49,998.00. Following the acquisition, the director now owns 39,392 shares of the company’s stock, valued at $505,005.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Shane C. Garrison acquired 2,050 shares of the stock in a transaction on Friday, May 19th. The stock was acquired at an average cost of $12.67 per share, for a total transaction of $25,973.50. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 10,450 shares of company stock worth $132,717. Corporate insiders own 0.41% of the company’s stock.

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.

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

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