KeyBanc Starts Retail Properties of America (RPAI) at Buy; Valuation is Attractive

KeyBanc initiates coverage on Retail Properties of America (NYSE: RPAI) with a Buy. PT $10.50.

Analyst, Todd M. Thomas, said, "We view RPAI as a high-beta way to play a slow and gradual recovery in the shopping center sector. Though the Company has clawed back approximately 300 basis points of occupancy since its trough in 2009, occupancy sits at 88%, well below peers' occupancy that is in the low-90%s. Encouragingly, there is an additional 260 basis points of leased gross leasable area (GLA) expected to come online in the quarters ahead, while leasing activity remains steady as demand for small shop space has begun to accelerate."

For an analyst ratings summary and ratings history on Retail Properties of America click here. For more ratings news on Retail Properties of America click here.

Shares of Retail Properties of America closed at $9.11 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• ICICI Securities Resumes Oberoi Realty Ltd (OBER:IN) at Buy (1)
• KeyBanc Reiterates Overweight Rating on Workday (WDAY), 'a turning point' for software?
• BMO Capital Starts Energy Fuels (UUUU) at Outperform