Retail Opportunity Investments (NASDAQ:ROIC) Now Covered by StockNews.com

StockNews.com began coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research report released on Friday. The brokerage issued a hold rating on the real estate investment trust’s stock.

Several other equities analysts have also recently commented on ROIC. Robert W. Baird reaffirmed a “neutral” rating and set a $17.50 price target (up previously from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday, November 7th. BMO Capital Markets upped their price target on Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research report on Friday, November 8th. Wells Fargo & Company boosted their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Bank of America assumed coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price target on the stock. Finally, Baird R W downgraded shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.17.

Retail Opportunity Investments Stock Down 0.5 %

Shares of NASDAQ:ROIC opened at $17.31 on Friday. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 37.63 and a beta of 1.47. The company has a 50 day moving average of $16.88 and a two-hundred day moving average of $15.15. Retail Opportunity Investments has a 52-week low of $11.87 and a 52-week high of $17.52. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $83.50 million for the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. As a group, analysts forecast that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.47%. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 130.43%.

Institutional Trading of Retail Opportunity Investments

Large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in shares of Retail Opportunity Investments by 20.4% during the second quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock valued at $74,975,000 after purchasing an additional 1,020,314 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Retail Opportunity Investments by 296.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 952,252 shares of the real estate investment trust’s stock valued at $14,979,000 after acquiring an additional 711,835 shares in the last quarter. Strategy Asset Managers LLC increased its stake in shares of Retail Opportunity Investments by 57.7% during the third quarter. Strategy Asset Managers LLC now owns 876,179 shares of the real estate investment trust’s stock valued at $13,782,000 after acquiring an additional 320,520 shares during the period. Easterly Investment Partners LLC acquired a new position in shares of Retail Opportunity Investments during the third quarter valued at approximately $4,556,000. Finally, Barclays PLC raised its holdings in Retail Opportunity Investments by 316.7% during the third quarter. Barclays PLC now owns 211,816 shares of the real estate investment trust’s stock worth $3,331,000 after purchasing an additional 160,981 shares in the last quarter. 97.16% of the stock is currently owned by institutional investors and hedge funds.

Retail Opportunity Investments Company 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.