Retail Properties of America (RPAI) Updates FY18 Earnings Guidance

Retail Properties of America (NYSE:RPAI) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.98-$1.02 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.02.

Shares of Retail Properties of America (NYSE RPAI) traded up $0.09 during mid-day trading on Tuesday, reaching $11.45. 2,318,043 shares of the company traded hands, compared to its average volume of 2,360,505. Retail Properties of America has a 12-month low of $10.94 and a 12-month high of $15.81. The company has a market cap of $2,575.31, a P/E ratio of 17.31 and a beta of 0.32. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.84.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Tuesday, March 27th will be issued a dividend of $0.1656 per share. This represents a $0.66 annualized dividend and a yield of 5.79%. The ex-dividend date is Monday, March 26th. Retail Properties of America’s dividend payout ratio is currently 101.54%.

Retail Properties of America declared that its Board of Directors has initiated a stock repurchase plan on Thursday, December 14th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Several equities analysts recently issued reports on RPAI shares. JPMorgan Chase & Co. raised shares of Retail Properties of America from a neutral rating to an overweight rating and set a $15.00 price target for the company in a report on Friday, December 15th. ValuEngine downgraded shares of Retail Properties of America from a buy rating to a hold rating in a report on Sunday, December 31st. KeyCorp raised shares of 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. Jefferies Group set a $14.00 price target on shares of Retail Properties of America and gave the company a hold rating in a report on Friday, December 15th. Finally, Zacks Investment Research downgraded shares of Retail Properties of America from a buy rating to a hold rating in a report on Wednesday, October 25th. One investment 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. The company currently has a consensus rating of Hold and a consensus target price of $15.93.

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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.

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

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