Zacks Investment Research cut shares of Retail Properties of America Inc (NYSE:RPAI) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

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. “

A number of other research firms have also recently weighed in on RPAI. TheStreet cut Retail Properties of America from a b- rating to a c+ rating in a report on Friday, February 17th. JPMorgan Chase & Co. upgraded Retail Properties of America from an underweight rating to a neutral rating and set a $16.50 target price for the company in a research note on Friday, December 16th. Finally, Deutsche Bank AG cut Retail Properties of America from a buy rating to a hold rating and reduced their target price for the company from $18.00 to $16.00 in a research note on Monday, January 9th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $17.71.

Retail Properties of America (NYSE:RPAI) opened at 14.60 on Wednesday. The company has a 50-day moving average of $14.95 and a 200-day moving average of $15.51. Retail Properties of America has a 52-week low of $13.88 and a 52-week high of $17.78. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 22.12 and a beta of 0.42.

Retail Properties of America (NYSE:RPAI) last released its quarterly earnings results on Tuesday, February 14th. The company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.24. Retail Properties of America had a return on equity of 7.01% and a net margin of 25.71%. During the same period in the previous year, the firm posted $0.26 earnings per share. Equities research analysts expect that Retail Properties of America will post ($0.01) EPS for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Monday, April 10th. Stockholders of record on Monday, March 27th will be paid a dividend of $0.1656 per share. This represents a $0.66 annualized dividend and a dividend yield of 4.54%. The ex-dividend date is Thursday, March 23rd. Retail Properties of America’s dividend payout ratio (DPR) is currently 110.00%.

Institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio boosted its position in Retail Properties of America by 3.5% in the second quarter. Public Employees Retirement System of Ohio now owns 105,782 shares of the company’s stock valued at $1,788,000 after buying an additional 3,583 shares during the period. Royal Bank of Canada boosted its position in Retail Properties of America by 93.5% in the second quarter. Royal Bank of Canada now owns 58,676 shares of the company’s stock valued at $991,000 after buying an additional 28,354 shares during the period. Macquarie Group Ltd. boosted its position in Retail Properties of America by 26.9% in the second quarter. Macquarie Group Ltd. now owns 1,199,191 shares of the company’s stock valued at $20,266,000 after buying an additional 254,298 shares during the period. CWM LLC boosted its position in Retail Properties of America by 54.5% in the third quarter. CWM LLC now owns 6,261 shares of the company’s stock valued at $105,000 after buying an additional 2,208 shares during the period. Finally, First Quadrant L P CA boosted its position in Retail Properties of America by 145.9% in the third quarter. First Quadrant L P CA now owns 21,640 shares of the company’s stock valued at $364,000 after buying an additional 12,840 shares during the period. Institutional investors own 78.55% of the company’s stock.

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.

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