Sterling Capital Management LLC Purchases New Holdings in Retail Properties of America Inc (RPAI)

Sterling Capital Management LLC purchased a new position in shares of Retail Properties of America Inc (NYSE:RPAI) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 111,000 shares of the real estate investment trust’s stock, valued at approximately $1,353,000.

Other large investors have also recently added to or reduced their stakes in the company. Commonwealth Bank of Australia lifted its holdings in Retail Properties of America by 67.2% during the 2nd quarter. Commonwealth Bank of Australia now owns 10,366 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 4,166 shares during the last quarter. RFG Advisory Group LLC acquired a new stake in Retail Properties of America during the 2nd quarter worth approximately $143,000. ARP Americas LP acquired a new stake in Retail Properties of America during the 2nd quarter worth approximately $206,000. Hartford Investment Management Co. acquired a new stake in Retail Properties of America during the 2nd quarter worth approximately $247,000. Finally, Point72 Hong Kong Ltd lifted its holdings in Retail Properties of America by 707.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 19,377 shares of the real estate investment trust’s stock worth $248,000 after purchasing an additional 16,978 shares during the last quarter. 81.94% of the stock is owned by institutional investors and hedge funds.

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

Retail Properties of America stock opened at $12.33 on Friday. Retail Properties of America Inc has a one year low of $10.84 and a one year high of $13.60. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 11.63 and a beta of 0.19.

Retail Properties of America (NYSE:RPAI) last posted its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.06 EPS for the quarter, missing the Zacks’ 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 company had revenue of $119.14 million for the quarter, compared to the consensus estimate of $118.41 million. During the same quarter last year, the business earned $0.25 EPS. Retail Properties of America’s revenue was down 8.7% on a year-over-year basis. Equities research analysts expect that Retail Properties of America Inc will post 1.01 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 10th. Shareholders of record on Thursday, December 27th will be paid a dividend of $0.166 per share. The ex-dividend date is Wednesday, December 26th. This represents a $0.66 dividend on an annualized basis and a yield of 5.39%. Retail Properties of America’s dividend payout ratio (DPR) is presently 62.26%.

Several research firms recently weighed in on RPAI. Zacks Investment Research cut Retail Properties of America from a “hold” rating to a “sell” rating in a report on Wednesday, October 31st. Jefferies Financial Group set a $13.00 price target on Retail Properties of America and gave the stock a “hold” rating in a report on Tuesday, July 17th. ValuEngine cut Retail Properties of America from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Deutsche Bank raised Retail Properties of America from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Tuesday, August 28th. Finally, JPMorgan Chase & Co. dropped their price target on Retail Properties of America from $13.50 to $13.00 and set a “neutral” rating for the company in a report on Thursday, September 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Retail Properties of America has a consensus rating of “Hold” and a consensus target price of $14.58.

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Retail Properties of America Profile

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

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Want to see what other hedge funds are holding RPAI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Retail Properties of America Inc (NYSE:RPAI).

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

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