Retail Properties of America Inc (RPAI) Expected to Post Quarterly Sales of $126.72 Million

Analysts forecast that Retail Properties of America Inc (NYSE:RPAI) will post sales of $126.72 million for the current quarter, Zacks reports. Five analysts have provided estimates for Retail Properties of America’s earnings, with the highest sales estimate coming in at $131.63 million and the lowest estimate coming in at $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 expected to report its next quarterly earnings report after the market closes on Tuesday, February 13th.

According to Zacks, analysts expect that Retail Properties of America will report full year sales of $126.72 million for the current year, with estimates ranging from $526.32 million to $543.18 million. For the next financial year, analysts forecast 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 an average based on a survey of analysts that follow Retail Properties of America.

A number of research firms have recently issued reports on RPAI. ValuEngine downgraded Retail Properties of America from a “buy” rating to a “hold” rating in a research report on Friday. Jefferies Group set a $14.00 price target on Retail Properties of America and gave the stock a “hold” rating in a research report on Friday, December 15th. JPMorgan Chase & Co. raised Retail Properties of America from a “neutral” rating to an “overweight” rating and set a $15.00 price target on the stock in a research report on Friday, December 15th. KeyCorp raised Retail Properties of America from a “sector weight” rating to an “overweight” rating and set a $16.00 price target on the stock in a research report on Monday, November 20th. Finally, Boenning Scattergood reissued a “buy” rating and set a $18.50 price target on shares of Retail Properties of America in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $15.93.

Retail Properties of America (NYSE:RPAI) opened at $11.55 on Tuesday. Retail Properties of America has a 12-month low of $11.46 and a 12-month high of $15.81. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $2,620.00, a price-to-earnings ratio of 18.05 and a beta of 0.32.

Retail Properties of America declared that its board has initiated a share repurchase program on Thursday, December 14th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Profund Advisors LLC purchased a new stake in shares of Retail Properties of America during the 2nd quarter worth $143,000. New York State Common Retirement Fund lifted its stake in shares of Retail Properties of America by 0.8% during the 2nd quarter. New York State Common Retirement Fund now owns 507,200 shares of the real estate investment trust’s stock worth $6,193,000 after purchasing an additional 3,999 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Retail Properties of America by 5.0% during the 2nd quarter. California Public Employees Retirement System now owns 669,900 shares of the real estate investment trust’s stock worth $8,179,000 after purchasing an additional 32,100 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Retail Properties of America by 55.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 225,345 shares of the real estate investment trust’s stock worth $2,751,000 after purchasing an additional 80,576 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Retail Properties of America by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,318,786 shares of the real estate investment trust’s stock worth $40,524,000 after purchasing an additional 97,216 shares during the last quarter. 78.94% of the stock is currently owned by institutional investors and hedge funds.

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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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