Brokerages Anticipate Retail Properties of America Inc (RPAI) Will Post Quarterly Sales of $120.53 Million

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Equities research analysts forecast that Retail Properties of America Inc (NYSE:RPAI) will report sales of $120.53 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Retail Properties of America’s earnings, with estimates ranging from $118.64 million to $122.31 million. Retail Properties of America posted sales of $130.52 million during the same quarter last year, which suggests a negative year over year growth rate of 7.7%. The company is scheduled to announce its next quarterly earnings report on Tuesday, October 30th.

On average, analysts expect that Retail Properties of America will report full year sales of $486.98 million for the current fiscal year, with estimates ranging from $480.84 million to $491.94 million. For the next fiscal year, analysts forecast that the firm will report sales of $495.12 million per share, with estimates ranging from $488.15 million to $502.97 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Retail Properties of America.

Retail Properties of America (NYSE:RPAI) last released its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.20). Retail Properties of America had a net margin of 39.61% and a return on equity of 10.31%. The business had revenue of $119.16 million during the quarter, compared to the consensus estimate of $120.92 million.

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered shares of Retail Properties of America from an “overweight” rating to a “neutral” rating in a research note on Friday, June 15th. ValuEngine upgraded shares of Retail Properties of America from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. Jefferies Financial Group set a $13.00 target price on shares of Retail Properties of America and gave the company a “hold” rating in a report on Tuesday, July 17th. Zacks Investment Research downgraded shares of Retail Properties of America from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th. Finally, Boenning Scattergood set a $16.00 target price on shares of Retail Properties of America and gave the company a “buy” rating in a report on Thursday, May 3rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Retail Properties of America has an average rating of “Hold” and an average price target of $15.36.

A number of hedge funds and other institutional investors have recently bought and sold shares of RPAI. Comerica Bank increased its holdings in Retail Properties of America by 173.7% during the first quarter. Comerica Bank now owns 30,035 shares of the real estate investment trust’s stock worth $338,000 after buying an additional 19,061 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Retail Properties of America by 5.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 221,595 shares of the real estate investment trust’s stock worth $2,584,000 after buying an additional 11,836 shares during the last quarter. Honeywell International Inc. purchased a new stake in Retail Properties of America during the first quarter worth about $1,625,000. Mackay Shields LLC purchased a new stake in Retail Properties of America during the first quarter worth about $1,186,000. Finally, Meeder Asset Management Inc. increased its holdings in Retail Properties of America by 301.0% during the first quarter. Meeder Asset Management Inc. now owns 77,184 shares of the real estate investment trust’s stock worth $901,000 after buying an additional 57,936 shares during the last quarter. Institutional investors and hedge funds own 81.59% of the company’s stock.

Shares of Retail Properties of America stock traded up $0.16 during trading hours on Wednesday, reaching $12.55. The company’s stock had a trading volume of 1,435,798 shares, compared to its average volume of 1,853,609. Retail Properties of America has a one year low of $10.84 and a one year high of $13.78. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 11.84 and a beta of 0.30. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 10th. Stockholders of record on Tuesday, September 25th will be issued a $0.166 dividend. The ex-dividend date of this dividend is Monday, September 24th. This represents a $0.66 annualized dividend and a dividend yield of 5.29%. Retail Properties of America’s dividend payout ratio is currently 62.26%.

Retail Properties of America Company Profile

Retail Properties of America, Inc is a REIT that owns and operates high quality, strategically located shopping centers in the United States. As of March 31, 2018, the Company owned 106 retail operating properties representing 19.5 million square feet. The Company is publicly traded on the New York Stock Exchange under the ticker symbol RPAI.

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Earnings History and Estimates for Retail Properties of America (NYSE:RPAI)

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