Zacks: Analysts Expect Retail Properties of America Inc (RPAI) Will Announce Quarterly Sales of $119.79 Million

Wall Street brokerages expect that Retail Properties of America Inc (NYSE:RPAI) will announce sales of $119.79 million for the current quarter, according to Zacks. Five analysts have provided estimates for Retail Properties of America’s earnings. The highest sales estimate is $121.23 million and the lowest is $118.75 million. Retail Properties of America reported sales of $126.59 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.4%. The company is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, February 12th.

According to Zacks, analysts expect that Retail Properties of America will report full-year sales of $481.82 million for the current fiscal year, with estimates ranging from $476.79 million to $484.37 million. For the next year, analysts expect that the company will report sales of $487.87 million, with estimates ranging from $479.31 million to $504.15 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Retail Properties of America.

Retail Properties of America (NYSE:RPAI) last posted its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.19). Retail Properties of America had a return on equity of 9.39% and a net margin of 35.82%. The firm had revenue of $119.14 million for the quarter, compared to analyst estimates of $118.41 million. During the same period in the previous year, the business posted $0.25 EPS. The business’s quarterly revenue was down 8.7% on a year-over-year basis.

A number of brokerages have issued reports on RPAI. Zacks Investment Research raised shares of Retail Properties of America from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. ValuEngine raised shares of Retail Properties of America from a “sell” rating to a “hold” rating in a research report on Saturday, December 1st. Citigroup set a $15.00 price target on shares of Retail Properties of America and gave the stock a “buy” rating in a research report on Tuesday, November 20th. JPMorgan Chase & Co. reduced their price target on shares of Retail Properties of America from $13.50 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, September 27th. Finally, Deutsche Bank raised shares of Retail Properties of America from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Tuesday, August 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Retail Properties of America has an average rating of “Hold” and a consensus target price of $14.40.

Shares of RPAI stock opened at $12.82 on Friday. Retail Properties of America has a 52-week low of $10.84 and a 52-week high of $13.60. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 12.09 and a beta of 0.23. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.86.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Stockholders of record on Thursday, December 27th will be given a dividend of $0.166 per share. The ex-dividend date of this dividend is Wednesday, December 26th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.18%. Retail Properties of America’s dividend payout ratio is 62.26%.

In other news, Director Gerald M. Gorski sold 3,962 shares of Retail Properties of America stock in a transaction on Friday, September 14th. The shares were sold at an average price of $12.61, for a total transaction of $49,960.82. Following the transaction, the director now directly owns 55,129 shares of the company’s stock, valued at $695,176.69. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.49% of the company’s stock.

Large investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its stake in shares of Retail Properties of America by 11.4% in the second quarter. BNP Paribas Arbitrage SA now owns 53,417 shares of the real estate investment trust’s stock worth $683,000 after acquiring an additional 5,453 shares during the last quarter. Aperio Group LLC boosted its stake in shares of Retail Properties of America by 17.4% in the second quarter. Aperio Group LLC now owns 40,799 shares of the real estate investment trust’s stock worth $521,000 after acquiring an additional 6,057 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Retail Properties of America by 99.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 34,510 shares of the real estate investment trust’s stock worth $441,000 after acquiring an additional 17,218 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Retail Properties of America in the second quarter worth approximately $2,165,000. Finally, First Trust Advisors LP boosted its stake in shares of Retail Properties of America by 80.9% in the second quarter. First Trust Advisors LP now owns 1,004,789 shares of the real estate investment trust’s stock worth $12,841,000 after acquiring an additional 449,245 shares during the last quarter. Institutional investors and hedge funds own 85.24% of the company’s stock.

About Retail Properties of America

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 September 30, 2018, the Company owned 105 retail operating properties in the United States representing 19.5 million square feet.

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