Alpine Associates Management Inc. Buys Shares of 1,350,000 Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Alpine Associates Management Inc. bought a new stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC) during the fourth quarter, HoldingsChannel reports. The firm bought 1,350,000 shares of the real estate investment trust’s stock, valued at approximately $23,436,000. Retail Opportunity Investments accounts for approximately 1.4% of Alpine Associates Management Inc.’s investment portfolio, making the stock its 25th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ROIC. International Assets Investment Management LLC raised its position in shares of Retail Opportunity Investments by 1,473.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 1,753 shares in the last quarter. Versant Capital Management Inc increased its stake in Retail Opportunity Investments by 117.8% during the fourth quarter. Versant Capital Management Inc now owns 3,572 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 1,932 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Retail Opportunity Investments by 188.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,270 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 3,440 shares during the period. KBC Group NV lifted its position in shares of Retail Opportunity Investments by 51.7% in the 4th quarter. KBC Group NV now owns 6,026 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 2,053 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Retail Opportunity Investments by 78.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,122 shares of the real estate investment trust’s stock valued at $112,000 after buying an additional 3,124 shares during the period. 97.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Retail Opportunity Investments in a report on Sunday, March 2nd. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.20.

Retail Opportunity Investments Stock Up 0.1 %

NASDAQ ROIC opened at $17.51 on Friday. The company has a market capitalization of $2.26 billion, a P/E ratio of 38.07 and a beta of 1.45. Retail Opportunity Investments Corp. has a 12 month low of $11.87 and a 12 month high of $17.52. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. The company’s 50 day simple moving average is $17.46 and its 200 day simple moving average is $16.72.

About Retail Opportunity Investments

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.