Retail Properties of America Inc (RPAI) Shares Bought by Long Pond Capital LP

Long Pond Capital LP increased its position in Retail Properties of America Inc (NYSE:RPAI) by 6.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,267,922 shares of the real estate investment trust’s stock after purchasing an additional 479,293 shares during the quarter. Retail Properties of America makes up about 2.5% of Long Pond Capital LP’s investment portfolio, making the stock its 14th largest holding. Long Pond Capital LP owned about 3.77% of Retail Properties of America worth $96,404,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Certified Advisory Corp purchased a new position in Retail Properties of America during the fourth quarter valued at $142,000. Symons Capital Management Inc. purchased a new position in Retail Properties of America during the first quarter valued at $145,000. Campbell & CO Investment Adviser LLC purchased a new position in Retail Properties of America during the first quarter valued at $146,000. Public Employees Retirement Association of Colorado raised its stake in Retail Properties of America by 60.6% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 11,668 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 4,403 shares during the last quarter. Finally, IBM Retirement Fund purchased a new position in Retail Properties of America during the first quarter valued at $164,000. Institutional investors own 81.39% of the company’s stock.

Retail Properties of America opened at $12.77 on Thursday, MarketBeat.com reports. Retail Properties of America Inc has a 1-year low of $10.84 and a 1-year high of $13.78. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $2.72 billion, a PE ratio of 12.05 and a beta of 0.32.

Retail Properties of America (NYSE:RPAI) last posted its quarterly earnings results on Tuesday, May 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.06). Retail Properties of America had a return on equity of 15.25% and a net margin of 58.23%. The business had revenue of $124.80 million during the quarter, compared to analysts’ expectations of $123.56 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The firm’s revenue for the quarter was down 13.2% compared to the same quarter last year. research analysts anticipate that Retail Properties of America Inc will post 1.01 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 10th. Stockholders of record on Tuesday, June 26th will be paid a $0.166 dividend. The ex-dividend date is Monday, June 25th. This represents a $0.66 annualized dividend and a dividend yield of 5.20%. This is a boost from Retail Properties of America’s previous quarterly dividend of $0.17. Retail Properties of America’s payout ratio is currently 62.26%.

RPAI has been the subject of a number of recent research reports. Boenning Scattergood set a $16.00 price objective on Retail Properties of America and gave the company a “buy” rating in a research note on Thursday, May 3rd. Citigroup lowered their price objective on Retail Properties of America from $15.00 to $14.50 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Jefferies Group set a $14.00 price objective on Retail Properties of America and gave the company a “hold” rating in a research note on Tuesday, February 13th. Zacks Investment Research upgraded Retail Properties of America from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Finally, ValuEngine cut Retail Properties of America from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $15.36.

About Retail Properties of America

Retail Properties of America, Inc is a REIT that owns and operates high quality, strategically located shopping centers in the United States. As of December 31, 2017, the Company owned 112 retail operating properties representing 20.3 million square feet. The Company is publicly traded on the New York Stock Exchange under the ticker symbol RPAI.

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

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