Retail Opportunity Investments (NASDAQ:ROIC) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Retail Opportunity Investments (NASDAQ:ROIC) from a buy rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “Retail Opportunity Investments Corp. is a corporation that intends to qualify as a REIT for U.S. federal incoming tax purposes and that expects to invest in, acquire, own, lease, reposition and manage a diverse portfolio of necessity-based retail properties. This includes primarily, well located community and neighborhood shopping centers, anchored by national or regional supermarkets and drugstores. The company may also acquire other retail properties, including power centers, regional malls lifestyle centers and single-tenant retail locations that are leased to national, regional and local tenants. In addition, the Company may supplement its direct purchases of retail properties with first mortgages or second mortgages, mezzanine loans, bridge or other loans or debt investments related to retail properties, in each case provided that the underlying real estate meets the Company’s criteria for direct investment. “

Shares of ROIC opened at $19.47 on Wednesday. The firm has a market capitalization of $2.36 billion, a PE ratio of 43.27, a PEG ratio of 5.40 and a beta of 1.48. The company’s 50-day moving average is $18.77 and its 200-day moving average is $18.11. Retail Opportunity Investments has a fifty-two week low of $13.73 and a fifty-two week high of $20.09. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.93 and a quick ratio of 2.93.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings data on Monday, October 25th. The real estate investment trust reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.11. Retail Opportunity Investments had a net margin of 18.96% and a return on equity of 4.10%. The company had revenue of $71.39 million for the quarter, compared to analyst estimates of $70.14 million. During the same period in the prior year, the firm earned $0.25 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. Analysts predict that Retail Opportunity Investments will post 1 earnings per share for the current fiscal year.

The firm also recently declared a dividend, which was paid on Friday, January 14th. Investors of record on Thursday, December 23rd were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, December 22nd. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 97.78%.

Hedge funds have recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP acquired a new position in shares of Retail Opportunity Investments in the second quarter valued at about $28,000. William Blair Investment Management LLC acquired a new position in shares of Retail Opportunity Investments in the second quarter valued at about $31,000. Van ECK Associates Corp grew its stake in shares of Retail Opportunity Investments by 18.2% in the third quarter. Van ECK Associates Corp now owns 5,543 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 853 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in shares of Retail Opportunity Investments by 35.7% in the second quarter. Advisor Group Holdings Inc. now owns 7,722 shares of the real estate investment trust’s stock valued at $135,000 after acquiring an additional 2,033 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Retail Opportunity Investments by 18.6% in the second quarter. PNC Financial Services Group Inc. now owns 7,938 shares of the real estate investment trust’s stock valued at $140,000 after acquiring an additional 1,247 shares in the last quarter. Institutional investors and hedge funds own 95.54% of the company’s stock.

Retail Opportunity Investments Company Profile

Retail Opportunity Investments Corp. operates as a self-managed real estate investment trust. The company engages in the ownership, management, and redevelopment of retail real estate properties. It specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely-populated, metropolitan markets across the West Coast.

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