Nomura Asset Management Co. Ltd. Sells 6,500 Shares of Retail Properties of America Inc (RPAI)

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Nomura Asset Management Co. Ltd. lessened its holdings in Retail Properties of America Inc (NYSE:RPAI) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 135,300 shares of the real estate investment trust’s stock after selling 6,500 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.06% of Retail Properties of America worth $1,729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Element Capital Management LLC bought a new position in shares of Retail Properties of America in the 1st quarter valued at about $118,000. Assetmark Inc. boosted its stake in shares of Retail Properties of America by 1,064.5% in the 1st quarter. Assetmark Inc. now owns 10,981 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 10,038 shares during the last quarter. RFG Advisory Group LLC bought a new position in shares of Retail Properties of America in the 2nd quarter valued at about $143,000. Symons Capital Management Inc. bought a new position in shares of Retail Properties of America in the 1st quarter valued at about $145,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Retail Properties of America in the 1st quarter valued at about $146,000. 81.59% of the stock is currently owned by institutional investors.

Shares of RPAI stock opened at $12.55 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 11.84 and a beta of 0.30. Retail Properties of America Inc has a 52 week low of $10.84 and a 52 week high of $13.78.

Retail Properties of America (NYSE:RPAI) last announced its earnings results 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). The company had revenue of $119.16 million for the quarter, compared to analyst estimates of $120.92 million. Retail Properties of America had a return on equity of 10.31% and a net margin of 39.61%. analysts forecast that Retail Properties of America Inc will post 1.01 EPS for the current year.

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

RPAI has been the topic of a number of analyst reports. ValuEngine downgraded shares of Retail Properties of America from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Boenning Scattergood set a $16.00 price target on shares of Retail Properties of America and gave the company a “buy” rating in a research report on Thursday, May 3rd. JPMorgan Chase & Co. downgraded shares of Retail Properties of America from an “overweight” rating to a “neutral” rating in a research report on Friday, June 15th. Jefferies Financial Group set a $13.00 price target on shares of Retail Properties of America and gave the company a “hold” rating in a research report on Tuesday, July 17th. Finally, 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. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $15.36.

About Retail Properties of America

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.

Further Reading: Technical Analysis

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

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