Retail Properties of America (NYSE:RPAI) : The consensus on Retail Properties of America (NYSE:RPAI) based on 6 analyst recommendation on the company stock is 2.33, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 3 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 2 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.
Retail Properties of America (NYSE:RPAI) : The highest level Retail Properties of America (NYSE:RPAI) is projected to reach is $19 for the short term and the lowest estimate is at $15. The consolidated price target from 4 rating analysts who initiate coverage on the stock is $17.13 and the possibility the share price can swing is $1.55.
For the current week, the company shares have a recommendation consensus of Buy. Also, In the latest statement by the brokerage house, Citigroup upgrades its outlook on Retail Properties of America (NYSE:RPAI). The current rating of the shares is Buy, according to the research report released by the firm. Previously, the company had a rating of Neutral. The brokerage firm raises the price target from $16 per share to $18 per share. The rating by the firm was issued on April 4, 2016.
Retail Properties of America (NYSE:RPAI): stock turned positive on Tuesday. Though the stock opened at $16.48, the bulls momentum made the stock top out at $16.78 level for the day. The stock recorded a low of $16.36 and closed the trading day at $16.73, in the green by 2.20%. The total traded volume for the day was 1,788,023. The stock had closed at $16.37 in the previous days trading.
In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Retail Properties Of America, Inc., Biumi Bonnie, had purchased 2,000 shares in a transaction dated on June 7, 2016. The transaction was executed at $16.24 per share with total amount equaling $32,480.
Retail Properties of America, Inc. is a real estate investment trust (REIT). The Company owns and operates shopping centers in the United States. The Companys 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 138,000 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.