Acadian Asset Management LLC acquired a new stake in shares of Retail Properties of America Inc (NYSE:RPAI) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 23,486 shares of the real estate investment trust’s stock, valued at approximately $286,000.

Other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Bank of Australia increased its position in Retail Properties of America by 67.2% in the second 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 bought a new stake in Retail Properties of America in the second quarter worth $143,000. ARP Americas LP bought a new stake in Retail Properties of America in the second quarter worth $206,000. Hartford Investment Management Co. bought a new stake in Retail Properties of America in the second quarter worth $247,000. Finally, Point72 Hong Kong Ltd increased its position in Retail Properties of America by 707.7% in the second 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. Hedge funds and other institutional investors own 85.33% of the company’s stock.

Several brokerages recently weighed in on RPAI. Citigroup set a $15.00 price target on shares of Retail Properties of America and gave the stock a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Retail Properties of America from a “sell” rating to a “hold” rating in a research report on Saturday. ValuEngine cut shares of Retail Properties of America from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. JPMorgan Chase & Co. reduced their price target on shares of Retail Properties of America from $13.50 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, September 27th. Finally, Deutsche Bank upgraded shares of Retail Properties of America from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Tuesday, August 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $14.40.

In other Retail Properties of America news, Director Gerald M. Gorski sold 3,962 shares of the business’s stock in a transaction on Friday, September 14th. The shares were 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 $695,176.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.49% of the company’s stock.

RPAI stock opened at $12.08 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.86. Retail Properties of America Inc has a twelve month low of $10.84 and a twelve month high of $13.60. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 11.40 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 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.19). Retail Properties of America had a net margin of 35.82% and a return on equity of 9.39%. The firm 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 firm earned $0.25 EPS. The company’s revenue was down 8.7% on a year-over-year basis. As a group, analysts anticipate that Retail Properties of America Inc will post 1.01 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 10th. Shareholders of record on Thursday, December 27th will be given a dividend of $0.166 per share. This represents a $0.66 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date is Wednesday, December 26th. Retail Properties of America’s dividend payout ratio (DPR) is 62.26%.

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

Further Reading: What is Depreciation?

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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