Zacks: Brokerages Expect Retail Properties of America Inc (RPAI) Will Announce Quarterly Sales of $126.72 Million

Wall Street brokerages forecast that Retail Properties of America Inc (NYSE:RPAI) will report $126.72 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Retail Properties of America’s earnings. The highest sales estimate is $131.63 million and the lowest is $121.02 million. Retail Properties of America reported sales of $142.75 million in the same quarter last year, which would suggest a negative year over year growth rate of 11.2%. The firm is scheduled to issue its next earnings report after the market closes on Tuesday, February 13th.

On average, analysts expect that Retail Properties of America will report full year sales of $126.72 million for the current fiscal year, with estimates ranging from $526.32 million to $543.18 million. For the next financial year, analysts anticipate that the firm will post sales of $505.49 million per share, with estimates ranging from $475.90 million to $544.32 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Retail Properties of America.

Retail Properties of America (NYSE:RPAI) last announced its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. The business had revenue of $130.52 million during the quarter, compared to analyst estimates of $132.45 million. Retail Properties of America had a return on equity of 7.61% and a net margin of 28.84%. The company’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share.

Several research firms have recently issued reports on RPAI. BidaskClub lowered Retail Properties of America from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Boenning Scattergood reaffirmed a “buy” rating and issued a $18.50 price target on shares of Retail Properties of America in a research report on Thursday, November 2nd. ValuEngine lowered Retail Properties of America from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Robert W. Baird reaffirmed a “buy” rating and issued a $18.00 price target on shares of Retail Properties of America in a research report on Wednesday, November 1st. Finally, Zacks Investment Research lowered Retail Properties of America from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.93.

Retail Properties of America (NYSE:RPAI) opened at $12.30 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $2,790.00, a PE ratio of 19.22 and a beta of 0.50. Retail Properties of America has a 52-week low of $11.61 and a 52-week high of $15.81.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 27th were given a $0.1656 dividend. This represents a $0.66 annualized dividend and a dividend yield of 5.39%. The ex-dividend date of this dividend was Friday, December 22nd. Retail Properties of America’s dividend payout ratio is presently 103.13%.

Retail Properties of America declared that its board has initiated a stock repurchase program on Thursday, December 14th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC increased its holdings in Retail Properties of America by 180.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 26,141 shares of the real estate investment trust’s stock worth $319,000 after buying an additional 16,811 shares in the last quarter. Legal & General Group Plc increased its holdings in Retail Properties of America by 9.0% in the 3rd quarter. Legal & General Group Plc now owns 790,927 shares of the real estate investment trust’s stock worth $10,386,000 after buying an additional 65,244 shares in the last quarter. Macquarie Group Ltd. increased its holdings in Retail Properties of America by 31.1% in the 3rd quarter. Macquarie Group Ltd. now owns 567,513 shares of the real estate investment trust’s stock worth $7,451,000 after buying an additional 134,549 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in Retail Properties of America by 4.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 816,573 shares of the real estate investment trust’s stock worth $9,970,000 after buying an additional 33,400 shares in the last quarter. Finally, Clinton Group Inc. bought a new stake in Retail Properties of America in the 2nd quarter worth about $252,000. Institutional investors own 79.13% of the company’s stock.

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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.

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Earnings History and Estimates for Retail Properties of America (NYSE:RPAI)

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