Retail Properties of America (NYSE:RPAI) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.
According to Zacks, "Retail Properties of America, Inc. is a real estate investment trust that owns and operates shopping centers in the United States. Its retail-operating portfolio includes power centers, community centers, neighborhood centers, lifestyle centers and single-user retail properties. The Company's retail properties are primarily located in retail districts. Retail Properties of America, Inc. is headquartered in Oak Brook, IL. "
RPAI has been the topic of several other research reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on shares of Retail Properties of America from $7.00 to $9.50 in a report on Tuesday, December 15th. Compass Point raised shares of Retail Properties of America from a "sell" rating to a "neutral" rating in a report on Monday, November 9th. Finally, Smith Barney Citigroup boosted their price objective on shares of Retail Properties of America from $7.00 to $9.50 in a report on Tuesday, December 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of "Hold" and an average target price of $8.89.
Retail Properties of America stock opened at $10.85 on Tuesday. The firm has a 50 day simple moving average of $9.54 and a 200-day simple moving average of $7.63. Retail Properties of America has a 1-year low of $2.87 and a 1-year high of $12.31. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 83.47 and a beta of 1.68.
Retail Properties of America (NYSE:RPAI) last issued its quarterly earnings data on Monday, February 15th. The real estate investment trust reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Retail Properties of America had a net margin of 6.51% and a return on equity of 1.48%. Equities analysts expect that Retail Properties of America will post 0.86 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of RPAI. BlackRock Inc. raised its holdings in shares of Retail Properties of America by 9.3% during the fourth quarter. BlackRock Inc. now owns 40,606,751 shares of the real estate investment trust's stock worth $347,593,000 after purchasing an additional 3,462,832 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Retail Properties of America by 37.5% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,743,087 shares of the real estate investment trust's stock valued at $57,721,000 after purchasing an additional 1,839,236 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Retail Properties of America by 3,496.5% during the 4th quarter. Russell Investments Group Ltd. now owns 1,061,171 shares of the real estate investment trust's stock valued at $9,061,000 after purchasing an additional 1,031,665 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Retail Properties of America by 49.3% during the third quarter. JPMorgan Chase & Co. now owns 2,735,428 shares of the real estate investment trust's stock valued at $15,483,000 after buying an additional 903,407 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC lifted its stake in Retail Properties of America by 10.4% during the third quarter. Lasalle Investment Management Securities LLC now owns 8,168,326 shares of the real estate investment trust's stock valued at $47,458,000 after buying an additional 770,206 shares in the last quarter. 90.86% of the stock is currently owned by institutional investors.
About Retail Properties of America
Retail Properties of America, Inc is a REIT that owns and operates high quality, strategically located open-air shopping centers, including properties with a mixed-use component. As of September 30, 2020, the Company owned 102 retail operating properties in the United States representing 20.0 million square feet.
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