Retail Properties of America Inc (RPAI) Position Lowered by California Public Employees Retirement System

California Public Employees Retirement System cut its holdings in shares of Retail Properties of America Inc (NYSE:RPAI) by 21.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 536,919 shares of the real estate investment trust’s stock after selling 143,923 shares during the period. California Public Employees Retirement System owned approximately 0.24% of Retail Properties of America worth $6,862,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp boosted its position in Retail Properties of America by 9.9% in the first quarter. Northern Trust Corp now owns 2,539,812 shares of the real estate investment trust’s stock worth $29,614,000 after purchasing an additional 229,672 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in Retail Properties of America by 10.3% in the first quarter. Great West Life Assurance Co. Can now owns 159,248 shares of the real estate investment trust’s stock worth $1,858,000 after purchasing an additional 14,917 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Retail Properties of America by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,651,170 shares of the real estate investment trust’s stock worth $42,573,000 after purchasing an additional 180,384 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Retail Properties of America by 19.0% in the first quarter. BNP Paribas Arbitrage SA now owns 47,964 shares of the real estate investment trust’s stock worth $559,000 after purchasing an additional 7,672 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in Retail Properties of America by 7.1% in the first quarter. Nomura Asset Management Co. Ltd. now owns 141,800 shares of the real estate investment trust’s stock worth $1,653,000 after purchasing an additional 9,400 shares during the last quarter. 82.01% of the stock is currently owned by institutional investors.

Shares of NYSE:RPAI opened at $11.58 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.02. Retail Properties of America Inc has a 52-week low of $10.84 and a 52-week high of $13.60. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 10.92 and a beta of 0.25.

Retail Properties of America (NYSE:RPAI) last posted its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.05 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.20). Retail Properties of America had a return on equity of 10.31% and a net margin of 39.61%. The company had revenue of $119.16 million during the quarter, compared to the consensus estimate of $120.92 million. As a group, equities analysts anticipate that Retail Properties of America Inc will post 1.01 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Stockholders of record on Tuesday, September 25th were paid a $0.166 dividend. This represents a $0.66 annualized dividend and a dividend yield of 5.73%. The ex-dividend date of this dividend was Monday, September 24th. Retail Properties of America’s dividend payout ratio (DPR) is currently 62.26%.

In other news, Director Gerald M. Gorski sold 3,962 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $12.61, for a total value of $49,960.82. Following the transaction, the director now owns 55,129 shares of the company’s stock, valued at $695,176.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.49% of the stock is owned by company insiders.

Several research analysts have issued reports on RPAI shares. Deutsche Bank raised Retail Properties of America from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Tuesday, August 28th. Zacks Investment Research raised Retail Properties of America from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. Jefferies Financial Group set a $13.00 target price on Retail Properties of America and gave the stock a “hold” rating in a research report on Tuesday, July 17th. ValuEngine raised Retail Properties of America from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st. Finally, JPMorgan Chase & Co. cut Retail Properties of America from an “overweight” rating to a “neutral” rating in a research report on Friday, June 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Retail Properties of America currently has an average rating of “Hold” and an average price target of $15.07.

Retail Properties of America Profile

Retail Properties of America, Inc is a REIT that owns and operates high quality, strategically located open-air shopping centers, including properties with a mixed-use component. As of June 30, 2018, the Company owned 105 retail operating properties in the United States representing 19.5 million square feet.

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Institutional Ownership by Quarter for Retail Properties of America (NYSE:RPAI)

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