Boenning & Scattergood Keeps Their Buy Rating on Retail Properties of America Inc

In a report released today, Floris van Dijkum from Boenning & Scattergood reiterated a Buy rating on Retail Properties of America Inc (NYSE: RPAI), with a price target of $16. The company’s shares closed yesterday at $11.45.

According to TipRanks.com, Dijkum is a 3-star analyst with an average return of 2.4% and a 58.1% success rate. Dijkum covers the Financial sector, focusing on stocks such as Pennsylvania Real Estate ate Investment, General Growth Properties Inc, and Washington Prime Group Inc.

Retail Properties of America Inc has an analyst consensus of Moderate Buy, with a price target consensus of $15.

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Based on Retail Properties of America Inc’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $125 million and quarterly net profit of $7.26 million. In comparison, last year the company earned revenue of $144 million and had a GAAP net loss of $50.35 million.

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Retail Properties of America, Inc. operates as a real estate investment trust. Its retail operating portfolio includes: power centers; neighborhood and community centers; and lifestyle centers and multi-tenant retail-focused mixed-use properties, as well as single-user retail properties.