Retail Properties of America (NYSE:RPAI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.
According to Zacks, “Retail Properties of America, Inc. is a real estate investment trust that owns and operates shopping centers in the United States. Its retail-operating portfolio includes power centers, community centers, neighborhood centers, lifestyle centers and single-user retail properties. The Company’s retail properties are primarily located in retail districts. Retail Properties of America, Inc. is headquartered in Oak Brook, IL. “
Shares of NYSE:RPAI opened at $11.89 on Thursday. Retail Properties of America has a twelve month low of $10.57 and a twelve month high of $13.40. The firm has a market capitalization of $2.55 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 3.45 and a beta of 0.57. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.96 and a quick ratio of 0.96.
Hedge funds have recently made changes to their positions in the stock. Resources Investment Advisors Inc. bought a new position in Retail Properties of America during the first quarter worth about $33,000. Marshall Wace North America L.P. bought a new position in Retail Properties of America during the first quarter worth about $33,000. Joseph P. Lucia & Associates LLC bought a new position in Retail Properties of America during the first quarter worth about $228,000. CWM LLC boosted its holdings in Retail Properties of America by 68.8% during the fourth quarter. CWM LLC now owns 3,697 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 1,507 shares during the last quarter. Finally, We Are One Seven LLC bought a new position in Retail Properties of America during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 81.36% of the company’s stock.
About Retail Properties of America
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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