Koch Industries Inc. Reduces Position in Retail Properties of America Inc (RPAI)

Koch Industries Inc. lowered its stake in shares of Retail Properties of America Inc (NYSE:RPAI) by 41.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 17,211 shares of the real estate investment trust’s stock after selling 12,027 shares during the quarter. Koch Industries Inc.’s holdings in Retail Properties of America were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. AEW Capital Management L P increased its position in Retail Properties of America by 5.8% during the fourth 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 acquiring an additional 365,800 shares during the period. Schwab Charles Investment Management Inc. increased its position in Retail Properties of America by 5.4% during the fourth 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 acquiring an additional 268,343 shares during the period. Dimensional Fund Advisors LP increased its position in Retail Properties of America by 2.0% during the third quarter. Dimensional Fund Advisors LP now owns 3,384,350 shares of the real estate investment trust’s stock worth $44,437,000 after acquiring an additional 65,564 shares during the period. Geode Capital Management LLC increased its position in Retail Properties of America by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 2,348,761 shares of the real estate investment trust’s stock worth $31,567,000 after acquiring an additional 12,826 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Retail Properties of America by 9.5% during the third quarter. Russell Investments Group Ltd. now owns 2,266,900 shares of the real estate investment trust’s stock worth $29,767,000 after acquiring an additional 197,343 shares during the period. 81.22% of the stock is currently owned by institutional investors and hedge funds.

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A number of equities analysts recently issued reports 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 target price on the stock in a research report on Friday, December 15th. Citigroup dropped their target price on shares of Retail Properties of America from $15.00 to $14.50 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Zacks Investment Research lowered shares of Retail Properties of America from a “hold” rating to a “sell” rating in a research report on Thursday, February 15th. ValuEngine lowered shares of Retail Properties of America from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Jefferies Group set a $14.00 price target on shares of Retail Properties of America and gave the company a “hold” rating in a report on Friday, December 15th. One 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 company has an average rating of “Hold” and a consensus price target of $15.79.

Shares of Retail Properties of America Inc (NYSE:RPAI) opened at $11.73 on Friday. The stock has a market cap of $2,571.66, a price-to-earnings ratio of 11.06 and a beta of 0.31. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.93. Retail Properties of America Inc has a fifty-two week low of $10.94 and a fifty-two week high of $14.71.

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

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Tuesday, March 27th will be issued a $0.1656 dividend. This represents a $0.66 annualized dividend and a yield of 5.65%. The ex-dividend date of this dividend is Monday, March 26th. Retail Properties of America’s dividend payout ratio (DPR) is presently 63.46%.

Retail Properties of America announced that its Board of Directors has initiated a stock buyback plan 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 reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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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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