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Retail Properties of America, Inc | 7.00% Series A Cumulative Redeemable Preferred Stock (RPAI.PRA)

Prospectus excerpt:  We are offering 5,000,000 shares of our 7.00% Series A Cumulative Redeemable Preferred Stock, par value $.001 per share, which we refer to in this prospectus supplement as our Series A Preferred Stock.

We will pay cumulative dividends on the Series A Preferred Stock from, and including, the date of original issue at a rate of 7.00% per annum of the $25.00 liquidation preference per share (equivalent to the annual rate of $1.75 per share). Dividends on the Series A Preferred Stock will be payable quarterly in arrears on or about the last day of March, June, September and December (or, if not a business day, the next succeeding business day) of each year, each such date a “Dividend Payment Date”, commencing on April 1, 2013 (as March 31, 2013 is not a business day) and will accrue from, and including, the original issue date to, but excluding, March 31, 2013 in the amount of approximately $0.4861 per share.

Generally, we are not permitted to redeem the Series A Preferred Stock prior to December 20, 2017, except in limited circumstances relating to our ability to qualify as a real estate investment trust, or REIT. On or after December 20, 2017, we may, at our option, redeem the Series A Preferred Stock, in whole or in part, at any time or from time to time, for cash at a redemption price of $25.00 per share, plus all accrued and unpaid dividends on such Series A Preferred Stock up to, but excluding, the redemption date. The Series A Preferred Stock has no stated maturity date and is not subject to mandatory redemption or any sinking fund. Holders of shares of the Series A Preferred Stock will generally have no voting rights, except for limited voting rights if we fail to pay dividends for six or more quarterly periods (whether or not consecutive) and in certain other circumstances.

Full Prospectus PDF », RPAI Page »

Alternate symbology:RPAI-A, RPAI-PA, RPAIprA
Call Date:12/20/2017
Shares Offered:5,000,000
Liquidation Preference:$25
Recent Market Price:$25.25
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$0.25 (1.00%)
Annualized Dividend:1.75
Recent Ex-Date:9/20/2017
Current Yield:6.94%
Original Coupon:7.00%
Pay Period:Quarterly
Pay Dates:31-Mar, 30-Jun, 30-Sep, 31-Dec
Retail Properties of America is a real estate investment trust that owns and operates shopping centers in the U.S. As of Dec 31 2016, Co. owned 156 retail operating properties. Co.'s retail operating portfolio includes neighborhood and community centers, power centers, and lifestyle centers and multi-tenant retail-focused mixed-use properties, as well as single-user retail properties. In addition to its operating portfolio, as of Dec 31 2016, Co. owned two properties where it has begun redevelopment activities.

Preferred: RPAI.PRA

Open the RPAI Information Page »
Name:  Retail Properties of America, Inc
Sector:  REITs
Number of ETFs Holding RPAI:  43 (see which ones)
Total Market Value Held by ETFs:  $379,756,180
Total Market Capitalization:  $3,021,000,000
% of Market Cap. Held by ETFs:  12.57%

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