Deutsche Bank Downgrades Retail Properties of America (RPAI) to Hold

Deutsche Bank downgraded Retail Properties of America (NYSE: RPAI) from Buy to Hold with a price target of $18 (unchanged).

Analyst Vin Chao said, "With an expected total return of just 2.5% to our updated target price, we are downgrading RPAI to Hold from Buy. RPAI has done a good job transitioning to a more targeted geographic mix and restructuring the balance sheet which should allow for more normalized and accelerating earnings growth over the next few years. However, we believe the shares fairly reflect these positive changes having outperformed both shopping center peers and the REITs over the past 12 months. While we see above average occupancy upside, RPAI’s heavy exposure to our “watchlist” of tenants also give us some pause even as conditions appear to be improving for most retailers."

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 $18.03 yesterday.

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