Retail Properties of America (NYSE:RPAI) has been assigned a $14.00 price objective by equities research analysts at Jefferies Group in a research note issued to investors on Friday. The firm currently has a “hold” rating on the real estate investment trust’s stock. Jefferies Group’s target price would indicate a potential upside of 5.42% from the stock’s current price. Jefferies Group also issued estimates for Retail Properties of America’s Q4 2017 earnings at $0.24 EPS, FY2018 earnings at $1.02 EPS and FY2019 earnings at $1.07 EPS.
A number of other analysts have also recently issued reports on RPAI. J P Morgan Chase & Co raised Retail Properties of America from a “neutral” rating to an “overweight” rating and set a $15.00 price objective on the stock in a report on Friday. BidaskClub cut Retail Properties of America from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Zacks Investment Research cut Retail Properties of America from a “buy” rating to a “hold” rating in a report on Saturday, September 2nd. Boenning Scattergood restated a “buy” rating and issued a $18.50 target price on shares of Retail Properties of America in a research note on Thursday, November 2nd. Finally, KeyCorp restated a “hold” rating on shares of Retail Properties of America in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Retail Properties of America has an average rating of “Hold” and a consensus price target of $15.94.
Retail Properties of America (NYSE RPAI) opened at $13.28 on Friday. Retail Properties of America has a 1 year low of $11.61 and a 1 year high of $15.81. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $2,965.93, a price-to-earnings ratio of 12.32 and a beta of 0.50.
Retail Properties of America declared that its Board of Directors has approved a stock repurchase plan on Thursday, December 14th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in Retail Properties of America by 2,354.6% during the 1st quarter. BlackRock Inc. now owns 18,340,329 shares of the real estate investment trust’s stock worth $264,469,000 after acquiring an additional 17,593,152 shares during the last quarter. APG Asset Management US Inc. purchased a new stake in Retail Properties of America in the 1st quarter worth approximately $47,615,000. State Street Corp lifted its holdings in Retail Properties of America by 56.2% in the 1st quarter. State Street Corp now owns 7,605,929 shares of the real estate investment trust’s stock worth $109,678,000 after buying an additional 2,736,360 shares during the period. AEW Capital Management L P lifted its holdings in Retail Properties of America by 213.9% in the 3rd quarter. AEW Capital Management L P now owns 3,978,600 shares of the real estate investment trust’s stock worth $66,840,000 after buying an additional 2,711,300 shares during the period. Finally, Lasalle Investment Management Securities LLC lifted its holdings in Retail Properties of America by 38.9% in the 2nd quarter. Lasalle Investment Management Securities LLC now owns 8,302,302 shares of the real estate investment trust’s stock worth $140,309,000 after buying an additional 2,326,924 shares during the period. Hedge funds and other institutional investors own 79.14% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This article was reported by American Banking and Market News and is owned by of American Banking and Market News. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/12/16/retail-properties-of-america-rpai-pt-set-at-14-00-by-jefferies-group.html.
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.
