Retail Properties of America Inc (RPAI) Short Interest Update

Retail Properties of America Inc (NYSE:RPAI) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 3,874,410 shares, an increase of 63.0% from the January 12th total of 2,377,645 shares. Based on an average daily volume of 2,188,839 shares, the days-to-cover ratio is presently 1.8 days. Currently, 1.7% of the company’s shares are sold short.

A number of research firms recently issued reports on RPAI. ValuEngine downgraded shares of Retail Properties of America from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. BidaskClub downgraded shares of Retail Properties of America from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Boenning Scattergood reaffirmed 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. Robert W. Baird reaffirmed a “buy” rating and set a $18.00 price target on shares of Retail Properties of America in a research report on Wednesday, November 1st. Finally, Zacks Investment Research cut shares of Retail Properties of America from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued 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 $11.45 on Wednesday. The firm has a market cap of $2,575.31, a P/E ratio of 17.62 and a beta of 0.32. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89. Retail Properties of America has a 12-month low of $10.94 and a 12-month high of $15.81.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Tuesday, March 27th will be given a dividend of $0.1656 per share. The ex-dividend date of this dividend is Monday, March 26th. This represents a $0.66 dividend on an annualized basis and a yield of 5.79%. Retail Properties of America’s dividend payout ratio (DPR) is 101.54%.

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

A number of hedge funds have recently made changes to their positions in RPAI. Renaissance Technologies LLC lifted its position in Retail Properties of America by 39.4% during the fourth quarter. Renaissance Technologies LLC now owns 5,154,055 shares of the real estate investment trust’s stock valued at $69,270,000 after buying an additional 1,455,955 shares in the last quarter. American Century Companies Inc. acquired a new position in Retail Properties of America during the fourth quarter valued at approximately $18,630,000. Barings LLC acquired a new position in Retail Properties of America during the third quarter valued at approximately $16,933,000. First Trust Advisors LP lifted its position in Retail Properties of America by 146.8% during the fourth quarter. First Trust Advisors LP now owns 671,458 shares of the real estate investment trust’s stock valued at $9,024,000 after buying an additional 399,402 shares in the last quarter. Finally, Martingale Asset Management L P lifted its position in Retail Properties of America by 112.9% during the fourth quarter. Martingale Asset Management L P now owns 741,567 shares of the real estate investment trust’s stock valued at $9,967,000 after buying an additional 393,172 shares in the last quarter. 79.35% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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