Paloma Partners Management Co Buys 36,291 Shares of Retail Properties of America, Inc. (RPAI)

Paloma Partners Management Co boosted its stake in Retail Properties of America, Inc. (NYSE:RPAI) by 123.4% during the first quarter, Holdings Channel reports. The institutional investor owned 65,699 shares of the real estate investment trust’s stock after buying an additional 36,291 shares during the period. Paloma Partners Management Co’s holdings in Retail Properties of America were worth $947,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of RPAI. IFC Holdings Incorporated FL purchased a new position in shares of Retail Properties of America during the first quarter valued at about $177,000. Nationwide Fund Advisors purchased a new position in shares of Retail Properties of America during the first quarter valued at about $162,000. State of Alaska Department of Revenue increased its position in shares of Retail Properties of America by 25.0% in the first quarter. State of Alaska Department of Revenue now owns 161,310 shares of the real estate investment trust’s stock valued at $2,325,000 after buying an additional 32,240 shares in the last quarter. Bank of Montreal Can increased its position in shares of Retail Properties of America by 9.6% in the first quarter. Bank of Montreal Can now owns 34,182 shares of the real estate investment trust’s stock valued at $493,000 after buying an additional 3,000 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Retail Properties of America by 38.1% in the fourth quarter. Teachers Advisors LLC now owns 322,089 shares of the real estate investment trust’s stock valued at $4,938,000 after buying an additional 88,836 shares in the last quarter. Hedge funds and other institutional investors own 78.61% of the company’s stock.

Retail Properties of America, Inc. (NYSE RPAI) opened at 12.11 on Monday. Retail Properties of America, Inc. has a 12 month low of $11.61 and a 12 month high of $17.78. The company has a market cap of $2.86 billion, a P/E ratio of 28.76 and a beta of 0.45. The company’s 50-day moving average is $12.48 and its 200-day moving average is $14.14.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 10th. Shareholders of record on Monday, June 26th will be given a dividend of $0.1656 per share. This represents a $0.66 annualized dividend and a yield of 5.47%. The ex-dividend date of this dividend is Thursday, June 22nd. Retail Properties of America’s dividend payout ratio is presently 153.49%.

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Several brokerages have recently issued reports on RPAI. Jefferies Group LLC set a $16.00 target price on shares of Retail Properties of America and gave the stock a “hold” rating in a research note on Saturday, March 25th. Zacks Investment Research downgraded shares of Retail Properties of America from a “buy” rating to a “hold” rating in a research note on Wednesday, March 15th. BidaskClub upgraded shares of Retail Properties of America from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. ValuEngine downgraded shares of Retail Properties of America from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Citigroup Inc. reiterated 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 note on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $16.25.

In other Retail Properties of America news, COO Shane C. Garrison sold 1,000 shares of Retail Properties of America stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $25.56, for a total transaction 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 acquired 4,500 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were acquired at an average price of $12.61 per share, with a total value of $56,745.00. Following the completion of the purchase, the director now owns 37,602 shares in the company, valued at approximately $474,161.22. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 10,450 shares of company stock worth $132,717. 0.41% of the stock is owned by insiders.

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.

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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