Retail Properties of America Inc (RPAI) Expected to Announce Quarterly Sales of $121.60 Million

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Equities research analysts expect that Retail Properties of America Inc (NYSE:RPAI) will post $121.60 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Retail Properties of America’s earnings, with the highest sales estimate coming in at $127.38 million and the lowest estimate coming in at $119.35 million. Retail Properties of America posted sales of $124.84 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.6%. The company is expected to announce its next earnings results after the market closes on Tuesday, April 30th.

According to Zacks, analysts expect that Retail Properties of America will report full year sales of $483.52 million for the current financial year, with estimates ranging from $477.27 million to $490.65 million. For the next year, analysts expect that the business will report sales of $499.07 million, with estimates ranging from $490.28 million to $508.20 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Retail Properties of America.

Retail Properties of America (NYSE:RPAI) last released its quarterly earnings results on Tuesday, February 12th. The real estate investment trust reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. Retail Properties of America had a return on equity of 4.24% and a net margin of 16.09%. The firm had revenue of $119.30 million during the quarter, compared to the consensus estimate of $119.77 million. During the same quarter in the prior year, the firm posted $0.25 EPS. The business’s revenue was down 5.7% on a year-over-year basis.

Several research firms have recently commented on RPAI. ValuEngine raised Retail Properties of America from a “sell” rating to a “hold” rating in a report on Saturday, December 1st. Zacks Investment Research cut Retail Properties of America from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. KeyCorp set a $15.00 price target on Retail Properties of America and gave the company a “buy” rating in a research note on Thursday, December 20th. Finally, Citigroup set a $15.00 price target on Retail Properties of America and gave the company a “buy” rating in a research note on Tuesday, November 20th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.29.

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of Retail Properties of America by 0.3% in the fourth quarter. BlackRock Inc. now owns 16,616,628 shares of the real estate investment trust’s stock worth $180,291,000 after purchasing an additional 56,414 shares during the period. Boston Partners increased its position in shares of Retail Properties of America by 42.6% in the fourth quarter. Boston Partners now owns 7,533,107 shares of the real estate investment trust’s stock worth $81,734,000 after purchasing an additional 2,252,191 shares during the period. Franklin Resources Inc. increased its position in shares of Retail Properties of America by 7.6% in the third quarter. Franklin Resources Inc. now owns 6,263,687 shares of the real estate investment trust’s stock worth $76,354,000 after purchasing an additional 444,800 shares during the period. Renaissance Technologies LLC increased its position in shares of Retail Properties of America by 20.4% in the third quarter. Renaissance Technologies LLC now owns 4,966,055 shares of the real estate investment trust’s stock worth $60,536,000 after purchasing an additional 841,200 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Retail Properties of America by 58.2% in the third quarter. JPMorgan Chase & Co. now owns 4,587,848 shares of the real estate investment trust’s stock worth $55,926,000 after purchasing an additional 1,687,591 shares during the period. Hedge funds and other institutional investors own 82.73% of the company’s stock.

NYSE:RPAI traded down $0.03 during trading hours on Monday, reaching $12.16. 1,376,151 shares of the stock were exchanged, compared to its average volume of 1,651,122. The company has a market cap of $2.60 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 5.31 and a beta of 0.58. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.93. Retail Properties of America has a twelve month low of $10.57 and a twelve month high of $13.40.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Wednesday, March 27th will be given a dividend of $0.1656 per share. This represents a $0.66 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend is Tuesday, March 26th. Retail Properties of America’s payout ratio is 64.08%.

Retail Properties of America Company 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 December 31, 2018, the Company owned 105 retail operating properties in the United States representing 20.1 million square feet.

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

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