Retail Properties of America, Inc. (NYSE:RPAI) Updates FY17 Earnings Guidance

Retail Properties of America, Inc. (NYSE:RPAI) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.00 to $1.05 for the period, compared to the Thomson Reuters consensus estimate of $0.96.

Shares of Retail Properties of America, Inc. (RPAI) traded down 1.42% on Friday, hitting $13.19. 1,160,947 shares of the stock were exchanged. Retail Properties of America, Inc. has a 52-week low of $11.61 and a 52-week high of $17.57. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 16.70 and a beta of 0.47. The company has a 50 day moving average of $12.79 and a 200 day moving average of $13.66.

Retail Properties of America (NYSE:RPAI) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Retail Properties of America had a return on equity of 9.20% and a net margin of 34.57%. The company had revenue of $137.34 million during the quarter, compared to analysts’ expectations of $135.81 million. During the same period last year, the business posted $0.31 earnings per share. The firm’s revenue was down 6.7% compared to the same quarter last year. Equities research analysts forecast that Retail Properties of America, Inc. will post $0.08 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 26th will be issued a dividend of $0.1656 per share. This represents a $0.66 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend is Monday, September 25th. Retail Properties of America’s dividend payout ratio (DPR) is 82.50%.

Several analysts have commented on the company. BidaskClub raised Retail Properties of America from a hold rating to a buy rating in a report on Wednesday. Zacks Investment Research downgraded Retail Properties of America from a hold rating to a sell rating in a research report on Wednesday, May 3rd. ValuEngine downgraded Retail Properties of America from a buy rating to a hold rating in a research report on Friday, June 2nd. Jefferies Group LLC raised their target price on Retail Properties of America to $16.00 and gave the company a hold rating in a research report on Monday, June 5th. Finally, Citigroup Inc. restated a buy rating and issued a $16.00 target price (down previously from $18.00) on shares of Retail Properties of America in a research report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $16.08.

In other news, COO Shane C. Garrison sold 1,000 shares of Retail Properties of America stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $25.56, for a total value of $25,560.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard P. Imperiale bought 4,500 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were bought at an average cost of $12.61 per share, with a total value of $56,745.00. Following the completion of the purchase, the director now directly owns 37,602 shares in the company, valued at $474,161.22. The disclosure for this purchase can be found here. Insiders own 0.41% of the company’s stock.

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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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