Jennison Associates LLC Trims Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Jennison Associates LLC lessened its holdings in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 38.6% during the fourth quarter, HoldingsChannel reports. The firm owned 1,675,304 shares of the real estate investment trust’s stock after selling 1,053,307 shares during the quarter. Jennison Associates LLC’s holdings in Retail Opportunity Investments were worth $23,505,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Retail Opportunity Investments by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 19,819,688 shares of the real estate investment trust’s stock worth $245,368,000 after purchasing an additional 71,258 shares during the period. Federated Hermes Inc. increased its holdings in shares of Retail Opportunity Investments by 10.8% during the 4th quarter. Federated Hermes Inc. now owns 4,216,242 shares of the real estate investment trust’s stock worth $59,154,000 after buying an additional 409,837 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Retail Opportunity Investments by 45.5% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,830,264 shares of the real estate investment trust’s stock worth $39,709,000 after buying an additional 884,914 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Retail Opportunity Investments by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,042,309 shares of the real estate investment trust’s stock worth $25,284,000 after buying an additional 84,289 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new stake in shares of Retail Opportunity Investments during the 3rd quarter worth $24,988,000. Hedge funds and other institutional investors own 97.16% of the company’s stock.

Analysts Set New Price Targets

ROIC has been the subject of a number of research analyst reports. Bank of America restated an “underperform” rating and set a $12.00 price objective (down from $14.50) on shares of Retail Opportunity Investments in a report on Friday, April 5th. StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, KeyCorp raised Retail Opportunity Investments from a “sector weight” rating to an “overweight” rating and set a $16.00 price objective on the stock in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $14.75.

Retail Opportunity Investments Stock Down 1.0 %

Shares of NASDAQ ROIC opened at $12.40 on Thursday. Retail Opportunity Investments Corp. has a 1 year low of $10.98 and a 1 year high of $15.16. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 41.33 and a beta of 1.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.38 and a current ratio of 1.38. The stock’s 50-day simple moving average is $12.66 and its 200-day simple moving average is $12.93.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.21). Retail Opportunity Investments had a return on equity of 2.74% and a net margin of 11.21%. The business had revenue of $84.60 million for the quarter, compared to analysts’ expectations of $81.09 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend was Thursday, March 14th. Retail Opportunity Investments’s payout ratio is 200.00%.

Retail Opportunity Investments Profile

Retail Opportunity Investments Corp. (Nasdaq: ROIC), is a fully integrated, self-managed real estate investment trust (REIT) that specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely populated, metropolitan markets across the West Coast. As of December 31, 2023, ROIC owned 94 shopping centers encompassing approximately 10.6 million square feet.