Retail Properties of America Inc (RPAI) Plans Quarterly Dividend of $0.17

Retail Properties of America Inc (NYSE:RPAI) declared a quarterly dividend on Friday, February 9th, Wall Street Journal reports. Investors of record on Tuesday, March 27th will be given a dividend of 0.1656 per share by the real estate investment trust on Tuesday, April 10th. This represents a $0.66 annualized dividend and a dividend yield of 5.84%. The ex-dividend date is Monday, March 26th.

Retail Properties of America has a payout ratio of 62.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Retail Properties of America to earn $1.03 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 64.1%.

Retail Properties of America (NYSE:RPAI) traded up $0.13 during trading on Friday, hitting $11.34. The company had a trading volume of 2,017,165 shares, compared to its average volume of 2,380,409. 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 company has a market cap of $2,550.00, a P/E ratio of 17.72 and a beta of 0.32. Retail Properties of America has a 1-year low of $10.93 and a 1-year high of $15.81.

RPAI has been the subject of several analyst reports. Zacks Investment Research downgraded Retail Properties of America from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. BidaskClub downgraded Retail Properties of America from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Robert W. Baird reaffirmed a “buy” rating and set a $18.00 price target on shares of Retail Properties of America in a report on Wednesday, November 1st. Boenning Scattergood reaffirmed a “buy” rating and set a $18.50 price target on shares of Retail Properties of America in a report on Thursday, November 2nd. Finally, KeyCorp raised Retail Properties of America from a “sector weight” rating to an “overweight” rating and set a $16.00 price target for the company in a report on Monday, November 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Retail Properties of America presently has a consensus rating of “Hold” and an average price target of $15.93.

Retail Properties of America declared that its board has approved a stock buyback program on Thursday, December 14th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are 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.

Dividend History for Retail Properties of America (NYSE:RPAI)

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