The furniture store Rent-A-Center is redecorating in Bushwick, Brooklyn, Commercial Observer has learned.
Rent-A-Center inked a 10-year deal to relocate its store at 299 Knickerbocker Avenue to the adjacent 4,500-square-foot storefront and basement at 301 Knickerbocker Avenue, according to Augenbaum Realty’s Josh Augenbaum, who brokered the deal for landlord Blue Bell.
Asking rent was $45 per square foot for Rent-A-Center’s 2,500 square feet on the ground floor.
Rent-A-Center will replace a 99c & Up store at the base of the four-story residential building between Suydam and Hart streets, and jumped on the space because it was so close to its existing location, Augenbaum said.
“They stayed in the same corridor and same area and demographic that they are familiar with,” Augenbaum said. “At the same time, they get to modernize the store and they get to use their online [website], and combine it with the brick and mortar version to make a more effective and easier shopping experience.”
Newmark’s Barry Fishbach and Young Kim represented the tenant in the deal. Fishbach and Kim did not immediately respond to requests for comment.
Celia Young can be reached at cyoung@commercialobserver.com.
Rent-A-Center, Inc. (NASDAQ:RCII – Get Rating) Director Jeffrey J. Brown purchased 1,084 shares of the business’s stock in a transaction on Tuesday, January 10th. The stock was purchased at an average cost of $24.20 per share, for a total transaction of $26,232.80. Following the completion of the acquisition, the director now directly owns 78,228 shares of the company’s stock, valued at approximately $1,893,117.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Rent-A-Center Stock Down 1.1 %
Rent-A-Center stock traded down $0.29 during mid-day trading on Thursday, reaching $25.02. 365,656 shares of the company’s stock were exchanged, compared to its average volume of 494,945. Rent-A-Center, Inc. has a twelve month low of $16.82 and a twelve month high of $47.00. The company has a fifty day moving average of $22.84 and a 200-day moving average of $23.13. The company has a quick ratio of 0.93, a current ratio of 3.33 and a debt-to-equity ratio of 2.50. The company has a market cap of $1.39 billion, a P/E ratio of 84.37 and a beta of 1.76.
Rent-A-Center (NASDAQ:RCII – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. Rent-A-Center had a net margin of 0.44% and a return on equity of 44.72%. The company had revenue of $1,000.00 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm posted $1.52 EPS. The company’s quarterly revenue was down 15.3% compared to the same quarter last year. Sell-side analysts expect that Rent-A-Center, Inc. will post 3.59 EPS for the current year.
Rent-A-Center Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 10th. Shareholders of record on Tuesday, December 20th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date was Monday, December 19th. Rent-A-Center’s dividend payout ratio is presently 453.33%.
Analyst Ratings Changes
Several equities analysts have issued reports on RCII shares. KeyCorp cut their price target on shares of Rent-A-Center from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Friday, November 4th. Bank of America decreased their target price on shares of Rent-A-Center from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, September 30th. StockNews.com downgraded shares of Rent-A-Center from a “buy” rating to a “hold” rating in a research report on Saturday, January 7th. Raymond James decreased their price objective on shares of Rent-A-Center from $35.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, October 3rd. Finally, Craig Hallum assumed coverage on shares of Rent-A-Center in a research note on Monday, December 5th. They set a “buy” rating and a $40.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.80.
Institutional Investors Weigh In On Rent-A-Center
A number of large investors have recently modified their holdings of RCII. Public Employees Retirement System of Ohio increased its position in shares of Rent-A-Center by 29.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,249 shares of the company’s stock valued at $74,000 after purchasing an additional 968 shares during the last quarter. Point72 Hong Kong Ltd grew its position in shares of Rent-A-Center by 16.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 5,897 shares of the company’s stock valued at $115,000 after buying an additional 847 shares during the last quarter. CX Institutional purchased a new position in shares of Rent-A-Center in the 2nd quarter valued at $124,000. Prentice Wealth Management LLC purchased a new position in shares of Rent-A-Center in the 2nd quarter valued at $128,000. Finally, Robeco Institutional Asset Management B.V. purchased a new position in shares of Rent-A-Center in the 3rd quarter valued at $144,000. 86.08% of the stock is owned by hedge funds and other institutional investors.
About Rent-A-Center
Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a lease-to-own basis. The company operates in four segments: Rent-A-Center Business, Acima, Mexico, and Franchising. It offers furniture and accessories, appliances, consumer electronics, computers, tablets and smartphones, tools, tires, handbags, and other accessories under rental purchase agreements.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Rent-A-Center, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Rent-A-Center wasn’t on the list.
While Rent-A-Center currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Rent-A-Center (NASDAQ:RCII – Get Rating) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
RCII has been the subject of several other research reports. KeyCorp cut their target price on Rent-A-Center from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Friday, November 4th. Raymond James reduced their price objective on shares of Rent-A-Center from $35.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, October 3rd. Craig Hallum initiated coverage on shares of Rent-A-Center in a research report on Monday, December 5th. They set a “buy” rating and a $40.00 target price for the company. Finally, Bank of America reduced their price target on shares of Rent-A-Center from $37.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, September 30th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Rent-A-Center has an average rating of “Moderate Buy” and an average price target of $34.80.
Rent-A-Center Trading Up 2.7 %
Rent-A-Center stock opened at $24.41 on Friday. Rent-A-Center has a 12-month low of $16.82 and a 12-month high of $48.38. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 81.37 and a beta of 1.76. The firm has a 50 day moving average of $22.59 and a 200 day moving average of $23.04. The company has a current ratio of 3.33, a quick ratio of 0.93 and a debt-to-equity ratio of 2.50.
Rent-A-Center (NASDAQ:RCII – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The firm had revenue of $1,000.00 million during the quarter, compared to analysts’ expectations of $1.01 billion. Rent-A-Center had a net margin of 0.44% and a return on equity of 44.72%. The company’s revenue for the quarter was down 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.52 earnings per share. As a group, research analysts predict that Rent-A-Center will post 3.59 earnings per share for the current year.
Insider Activity at Rent-A-Center
In other Rent-A-Center news, Director Jeffrey J. Brown acquired 1,475 shares of the company’s stock in a transaction on Tuesday, October 25th. The stock was acquired at an average cost of $17.45 per share, with a total value of $25,738.75. Following the purchase, the director now directly owns 77,144 shares of the company’s stock, valued at approximately $1,346,162.80. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 11.00% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its position in Rent-A-Center by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 898,624 shares of the company’s stock valued at $22,637,000 after purchasing an additional 14,110 shares during the period. Citigroup Inc. boosted its holdings in shares of Rent-A-Center by 2.3% in the 1st quarter. Citigroup Inc. now owns 56,586 shares of the company’s stock worth $1,425,000 after purchasing an additional 1,271 shares during the period. Natixis Advisors L.P. increased its position in shares of Rent-A-Center by 22.2% during the 1st quarter. Natixis Advisors L.P. now owns 32,336 shares of the company’s stock valued at $815,000 after purchasing an additional 5,864 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Rent-A-Center by 55.3% during the 1st quarter. MetLife Investment Management LLC now owns 36,471 shares of the company’s stock valued at $919,000 after buying an additional 12,981 shares during the period. Finally, Rhumbline Advisers lifted its position in Rent-A-Center by 6.4% in the first quarter. Rhumbline Advisers now owns 160,642 shares of the company’s stock worth $4,047,000 after buying an additional 9,611 shares during the last quarter. Institutional investors own 86.08% of the company’s stock.
About Rent-A-Center
Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a lease-to-own basis. The company operates in four segments: Rent-A-Center Business, Acima, Mexico, and Franchising. It offers furniture and accessories, appliances, consumer electronics, computers, tablets and smartphones, tools, tires, handbags, and other accessories under rental purchase agreements.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Rent-A-Center, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Rent-A-Center wasn’t on the list.
While Rent-A-Center currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Rent-A-Center (NASDAQ:RCII – Get Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.
A number of other equities analysts have also commented on the company. Raymond James cut their price target on Rent-A-Center from $35.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, October 3rd. Bank of America decreased their price target on Rent-A-Center from $37.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, September 30th. Finally, KeyCorp cut their price objective on shares of Rent-A-Center from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Friday, November 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.50.
Rent-A-Center Stock Up 0.5 %
Shares of NASDAQ RCII opened at $22.25 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 3.33 and a debt-to-equity ratio of 2.50. The company’s fifty day simple moving average is $21.46 and its 200 day simple moving average is $23.77. The firm has a market cap of $1.24 billion, a PE ratio of 74.17 and a beta of 1.78. Rent-A-Center has a 12-month low of $16.82 and a 12-month high of $51.98.
Rent-A-Center (NASDAQ:RCII – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.05. Rent-A-Center had a return on equity of 44.72% and a net margin of 0.44%. The business had revenue of $1,000.00 million during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm posted $1.52 EPS. Rent-A-Center’s quarterly revenue was down 15.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Rent-A-Center will post 3.65 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Jeffrey J. Brown acquired 1,475 shares of the firm’s stock in a transaction dated Tuesday, October 25th. The shares were purchased at an average price of $17.45 per share, for a total transaction of $25,738.75. Following the completion of the acquisition, the director now owns 77,144 shares in the company, valued at $1,346,162.80. The purchase was disclosed in a filing with the SEC, which is available at this link. 11.00% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Rent-A-Center
Institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Rent-A-Center by 34.4% in the second quarter. FMR LLC now owns 7,855,208 shares of the company’s stock worth $152,784,000 after purchasing an additional 2,011,123 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Rent-A-Center by 1.1% during the third quarter. Vanguard Group Inc. now owns 5,968,555 shares of the company’s stock valued at $104,510,000 after buying an additional 66,728 shares during the period. Engaged Capital LLC raised its holdings in shares of Rent-A-Center by 8.9% during the third quarter. Engaged Capital LLC now owns 2,564,544 shares of the company’s stock valued at $44,905,000 after acquiring an additional 208,814 shares in the last quarter. State Street Corp boosted its holdings in Rent-A-Center by 8.8% in the first quarter. State Street Corp now owns 2,333,336 shares of the company’s stock valued at $58,777,000 after acquiring an additional 189,510 shares in the last quarter. Finally, Ieq Capital LLC increased its position in Rent-A-Center by 1.9% during the 2nd quarter. Ieq Capital LLC now owns 2,056,333 shares of the company’s stock valued at $39,995,000 after purchasing an additional 39,330 shares during the period. Hedge funds and other institutional investors own 83.45% of the company’s stock.
Rent-A-Center Company Profile
Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a lease-to-own basis. The company operates in four segments: Rent-A-Center Business, Acima, Mexico, and Franchising. It offers furniture and accessories, appliances, consumer electronics, computers, tablets and smartphones, tools, tires, handbags, and other accessories under rental purchase agreements.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Rent-A-Center, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Rent-A-Center wasn’t on the list.
While Rent-A-Center currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Rent-A-Center (NASDAQ:RCII – Get Rating) had its target price decreased by investment analysts at KeyCorp from $37.00 to $34.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 59.92% from the company’s current price.
A number of other equities research analysts also recently weighed in on the company. Raymond James lowered their price target on Rent-A-Center from $35.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, October 3rd. StockNews.com assumed coverage on Rent-A-Center in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Bank of America decreased their price objective on Rent-A-Center from $37.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, September 30th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Rent-A-Center currently has an average rating of “Moderate Buy” and a consensus target price of $33.50.
Rent-A-Center Price Performance
NASDAQ:RCII opened at $21.26 on Friday. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 70.87 and a beta of 1.78. Rent-A-Center has a 52-week low of $16.82 and a 52-week high of $52.00. The stock has a fifty day moving average of $22.13 and a 200 day moving average of $23.95. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 3.37.
Rent-A-Center (NASDAQ:RCII – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.05. The company had revenue of $1,000.00 million during the quarter, compared to analyst estimates of $1.01 billion. Rent-A-Center had a return on equity of 46.90% and a net margin of 1.02%. The firm’s quarterly revenue was down 15.3% on a year-over-year basis. During the same quarter last year, the company earned $1.52 earnings per share. On average, research analysts expect that Rent-A-Center will post 3.74 EPS for the current fiscal year.
Insider Buying and Selling at Rent-A-Center
In related news, Director Jeffrey J. Brown purchased 1,475 shares of the company’s stock in a transaction dated Tuesday, October 25th. The shares were purchased at an average cost of $17.45 per share, with a total value of $25,738.75. Following the transaction, the director now directly owns 77,144 shares in the company, valued at approximately $1,346,162.80. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 11.00% of the company’s stock.
Institutional Trading of Rent-A-Center
A number of hedge funds have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. raised its holdings in Rent-A-Center by 11.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 4,378 shares of the company’s stock worth $110,000 after acquiring an additional 441 shares during the last quarter. California Public Employees Retirement System raised its stake in Rent-A-Center by 0.5% during the 2nd quarter. California Public Employees Retirement System now owns 100,627 shares of the company’s stock valued at $1,957,000 after buying an additional 484 shares during the last quarter. First Republic Investment Management Inc. increased its stake in shares of Rent-A-Center by 4.8% in the 3rd quarter. First Republic Investment Management Inc. now owns 13,175 shares of the company’s stock worth $231,000 after purchasing an additional 609 shares in the last quarter. Legacy Wealth Asset Management LLC increased its stake in shares of Rent-A-Center by 5.5% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 12,730 shares of the company’s stock worth $321,000 after purchasing an additional 664 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Rent-A-Center by 7.1% in the 1st quarter. Teacher Retirement System of Texas now owns 12,346 shares of the company’s stock worth $311,000 after purchasing an additional 822 shares in the last quarter. 83.45% of the stock is owned by institutional investors.
Rent-A-Center Company Profile
Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a lease-to-own basis. The company operates in four segments: Rent-A-Center Business, Acima, Mexico, and Franchising. It offers furniture and accessories, appliances, consumer electronics, computers, tablets and smartphones, tools, tires, handbags, and other accessories under rental purchase agreements.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Rent-A-Center, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Rent-A-Center wasn’t on the list.
While Rent-A-Center currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.