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

Prospectus exerpt:  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 »

Series:A
Redeemable?:Yes
Call Date:12/20/2017
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:5,000,000
Overallotment:750,000
Liquidation Preference:$25
Recent Market Price:$25.52
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$0.52 (2.08%)
Annualized Dividend:1.75
Recent Ex-Date:6/17/2014
Current Yield:6.86%
Original Coupon:7.000%
Pay Period:Quarterly
Pay Dates:31-Mar, 30-Jun, 30-Sep, 31-Dec
Retail Properties of America is a real estate investment trust engaged in owning and operating shopping centers in the U.S. At Dec 31 2012, Co.'s retail operating portfolio consisted of 230 properties with approximately 32.7 million square feet of gross leasable area across 35 states and included power centers, community centers, neighborhood centers and lifestyle centers, as well as single-user retail properties. Also as of such date, Co. held interests in 10 office properties, two industrial properties, 22 retail operating properties held by three unconsolidated joint ventures, three retail properties under development and three retail operating properties classified as held for sale.

Preferred: RPAI.PRA


Open the RPAI Information Page »
Name:  Retail Properties of America, Inc
Website:  www.rpai.com
Sector:  REITs
Number of ETFs Holding RPAI:  36 (see which ones)
Total Market Value Held by ETFs:  $350,452,664
Total Market Capitalization:  $3,700,000,000
% of Market Cap. Held by ETFs:  9.47%

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