Key Developments: Retail Properties of America Inc (RPAI.N)

RPAI.N on New York Stock Exchange

14.17USD
1 Aug 2013
Price Change (% chg)

$0.08 (+0.57%)
Prev Close
$14.09
Open
$14.15
Day's High
$14.27
Day's Low
$14.04
Volume
129,885
Avg. Vol
280,782
52-wk High
$16.04
52-wk Low
$9.84

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Latest Key Developments (Source: Significant Developments)

Retail Properties of America Inc Announces Third Quarter 2013 Dividends On Preferred And Common Stock
Tuesday, 30 Jul 2013 07:30pm EDT 

Retail Properties of America Inc announced that the Board of Directors declared the third quarter dividend for the Company's 7.00% Series A Cumulative Redeemable Preferred Stock. The dividend of $0.4375 per preferred share will be paid on September 30, 2013, to preferred stockholders of record on September 19, 2013.  Full Article

Retail Properties Of America Inc Signs Lululemon To New Leases At Southlake Town Square And Shops At Legacy
Thursday, 27 Jun 2013 11:00am EDT 

Retail Properties of America Inc announced that it has entered into its first leases with Lululemon Athletica Inc bringing lululemon's trend-setting athletic apparel to Southlake Town Square in Southlake, TX and The Shops at Legacy in Plano, TX, further establishing these lifestyle centers as shopping destinations in Texas. The lululemon leases, which total 6,423 square-feet, include 3,243 square-feet at Town Square and 3,180 square-feet at Legacy. RPAI has additionally signed new and renewal small shop leases of 114,680 and 76,909 square feet to Town Square and Legacy, respectively in the last 12 months.  Full Article

Retail Properties of America Inc Announces Closing Of $1 Billion Unsecured Credit Facility
Wednesday, 15 May 2013 08:30am EDT 

Retail Properties of America Inc announced the closing of a $1 billion amended and restated credit facility, increasing total capacity by $350 million. The amended and restated facility (the Facility) is comprised of a $450 million unsecured term loan and a $550 million unsecured revolver. The current interest rate on the unsecured revolver decreased 50 bps to LIBOR plus 1.50% per annum and the current interest rate on the unsecured term loan decreased 55 bps to LIBOR plus 1.45% per annum. The improvement in pricing is due to a reduction in the applicable margin across all tiers of the leverage grid as well as a migration to the lowest tier of the leverage grid. The movement within the leverage grid is the result of a reduction in the capitalization rate that is used to determine asset value under the Facility, from 7.50% to 7.25%. The maturity dates on the Facility were extended by over two years, to May 2018 for the unsecured term loan and May 2017 for the unsecured revolver. The Company will have the option to extend the maturity of the unsecured revolver for one additional year to 2018, which it may exercise, subject to continued compliance with the terms of the Facility and the payment of an extension fee of 0.15%, a 10 bps reduction from the previous facility. The Facility includes an accordion feature that allows the Company to increase the total potential capacity of the Facility up to $1.45 billion, subject to certain conditions.  Full Article

Retail Properties of America Inc Declares Second Quarter Dividend
Monday, 6 May 2013 05:06pm EDT 

Retail Properties of America Inc announced that on April 30, 2013, the Company’s Board of Directors declared the second quarter 2013 Series A preferred stock distribution of $0.4375 per preferred share, for the period beginning April 1, 2013, which will be paid on July 1, 2013, to preferred shareholders of record on June 20, 2013. On April 30,2013, the Company’s Board of Directors also declared the second quarter 2013 quarterly cash dividend of $0.165625 per share on all classes of outstanding common stock of RPAI. The common dividend will be paid on July 10, 2013, to common shareholders of record on June 28, 2013.  Full Article

Retail Properties of America Inc Raises FY 2013 FFO Guidance
Monday, 6 May 2013 05:06pm EDT 

Retail Properties of America Inc announced that for fiscal 2013, it expects operating FFO per share in the range of $0.88-$0.92, FFO per share in the range of $0.83-$0.87 and net income available to common shareholders per share in the range of $0.11- $0.15.  Full Article

Retail Properties of America Inc Announces At-The-Market Equity Program
Thursday, 7 Mar 2013 05:59pm EST 

Retail Properties of America Inc announced it has established an at-the-market equity program under which it may sell shares of Class A common stock of the Company, having an aggregate offering price of up to $200 million (the Shares), from time to time through Deutsche Bank Securities, Citigroup and Jefferies, as sales agents. Sales of Shares, if any, may be made in negotiated transactions or transactions that are deemed to be "at-the-market offerings" as defined in Rule 415 under the Securities Act of 1933, as amended, including sales made directly on the New York Stock Exchange or sales made to or through a market maker other than on an exchange or through an electronic communications network. The Shares will be offered at negotiated prices or prevailing market prices at the time of sale. The Company intends to use the net proceeds of this offering for general corporate purposes, which may include repaying debt, including the Company`s revolving credit facility, and funding acquisitions.  Full Article

Retail Properties of America Inc Issues FY 2013 FFO Guidance In Line With Analysts' Estimates
Tuesday, 19 Feb 2013 04:00pm EST 

Retail Properties of America Inc announced that for fiscal 2013, it expects operating FFO per share in the range of $0.88-$0.92, FFO per share in the range of $0.82-$0.86 and net income available to common shareholders per share in the range of $0.02- $0.06. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report FFO per share of $0.90 for fiscal 2013.  Full Article

Retail Properties of America Inc Announces First Quarter 2013 Dividends On Preferred And Common Shares
Wednesday, 13 Feb 2013 06:44pm EST 

Retail Properties of America Inc announced that the Board of Directors have declared the initial cash dividend for the Company's 7.00% Series A Cumulative Redeemable Preferred Shares. The dividend of $0.4861 per preferred share, for the period beginning December 20, 2012, will be paid on April 1, 2013, to preferred shareholders of record on March 21, 2013. The Company also announced that its Board has declared the quarterly cash dividend of $0.165625 per share on all classes of outstanding common shares of RPAI. The common dividend will be paid on April 10, 2013, to common shareholders of record on March 29, 2013.  Full Article

Law Firm of Klayman & Toskes Announces Class Action Lawsuit Against Retail Properties of America Inc
Friday, 11 Jan 2013 01:05pm EST 

The Securities Arbitration Law Firm of Klayman & Toskes (K&T), announced that it filed a claim against LPL Financial (LPL) to recover damages sustained in Inland Western REIT n/k/a Retail Properties of America, Inland America REIT, Dividend Capital Trust, and LaeRoc 2004-2005 Income Fund. The securities arbitration claim was filed with the Financial Industry Regulatory Authority (FINRA), and seeks damages of $225,000.  Full Article

Retail Properties of America Inc Declares Fourth Quarter Dividend
Friday, 7 Dec 2012 05:24pm EST 

Retail Properties of America Inc announced today that the Board of Directors declared a quarterly common share dividend of $0.165625 per share on all classes of outstanding common shares of RPAI. The common dividend is payable January 10, 2013 to shareholders of record at the close of business on December 31, 2012.  Full Article

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