Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in Retail Properties of America, Inc. (RPAI)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Retail Properties of America, Inc. (NYSE:RPAI) by 11.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 16,662 shares of the real estate investment trust’s stock after purchasing an additional 1,740 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Retail Properties of America were worth $203,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nationwide Fund Advisors bought a new position in shares of Retail Properties of America during the 1st quarter worth approximately $162,000. Comerica Bank bought a new position in shares of Retail Properties of America during the 1st quarter worth approximately $156,000. Brookstone Capital Management bought a new position in shares of Retail Properties of America during the 2nd quarter worth approximately $146,000. SG Americas Securities LLC raised its stake in shares of Retail Properties of America by 3.5% during the 2nd quarter. SG Americas Securities LLC now owns 13,214 shares of the real estate investment trust’s stock worth $161,000 after acquiring an additional 444 shares in the last quarter. Finally, First Financial Equity Corporation bought a new position in shares of Retail Properties of America during the 1st quarter worth approximately $199,000. 78.99% of the stock is owned by hedge funds and other institutional investors.

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In other news, Director Gerald M. Gorski sold 4,790 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $13.59, for a total transaction of $65,096.10. Following the completion of the sale, the director now owns 46,907 shares in the company, valued at approximately $637,466.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is currently owned by insiders.

RPAI has been the subject of several recent analyst reports. BidaskClub upgraded shares of Retail Properties of America from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Jefferies Group LLC reiterated a “hold” rating and set a $13.00 price objective on shares of Retail Properties of America in a research note on Tuesday, August 29th. KeyCorp reiterated a “hold” rating on shares of Retail Properties of America in a research note on Friday, August 25th. Zacks Investment Research upgraded shares of 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 note on Thursday, August 31st. Finally, Citigroup Inc. reiterated a “buy” rating and set a $16.00 price objective (down previously from $18.00) on shares of Retail Properties of America in a research note on Tuesday, June 6th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $15.75.

Retail Properties of America, Inc. (NYSE RPAI) opened at 13.65 on Friday. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 17.28 and a beta of 0.44. The firm’s 50-day moving average is $13.35 and its 200-day moving average is $13.35. Retail Properties of America, Inc. has a 52 week low of $11.61 and a 52 week high of $17.35.

Retail Properties of America (NYSE:RPAI) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $137.34 million during the quarter, compared to the consensus estimate of $135.81 million. Retail Properties of America had a net margin of 34.57% and a return on equity of 9.20%. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 earnings per share. On average, equities analysts anticipate that Retail Properties of America, Inc. will post $0.53 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 26th will be given a dividend of $0.1656 per share. The ex-dividend date of this dividend is Monday, September 25th. This represents a $0.66 annualized dividend and a dividend yield of 4.85%. Retail Properties of America’s dividend payout ratio is presently 82.50%.

Retail Properties of America 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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