Retail Properties of America Inc (RPAI) reported quarterly earnings results on Monday, May-2-2016. The company said it had a profit of $0.28 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.26. The company posted revenue of $148.64 million in the period, compared to analysts expectations of $146.71 million. The company’s revenue was down -3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS.
Many Wall Street Analysts have commented on Retail Properties of America Inc. Retail Properties of America Inc was Upgraded by Citigroup to ” Buy” on Apr 4, 2016. Robert W. Baird Initiated Retail Properties of America Inc on Mar 30, 2016 to “Outperform”, Price Target of the shares are set at $18.
Retail Properties of America Inc closed down -0.01 points or -0.06% at $16.14 with 7,46,601 shares getting traded on Wednesday. Post opening the session at $16.09, the shares hit an intraday low of $15.94 and an intraday high of $16.195 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Feb 26, 2016, Thomas J Sargeant (director) purchased 800 shares at $26.00 per share price. According to the SEC, on Sep 9, 2015, Richard P Imperiale (director) purchased 3,000 shares at $13.20 per share price.
Retail Properties of America Inc. is a real estate investment trust (REIT). The Company owns and operates shopping centers in the United States. The Company’s retail operating portfolio includes power centers neighborhood and community centers and lifestyle centers and predominantly multi-tenant retail mixed-use properties as well as single-user retail properties. Its properties include 23rd Street Plaza Panama City; Academy Sports Houma; Academy Sports Midland; Academy Sports Port Arthur; Arvada Connection and Arvada Marketplace Arvada; The Brickyard Chicago; Broadway Shopping Center Bangor and Cinemark Seven Bridges Woodridge among others. It also owns a property Towson Square which is approximately 138000 square foot entertainment based center including a range of national and regional restaurant concepts. The Company owns approximately 201 retail operating properties representing over 29.2 million square feet.