Retail Opportunity Investments (NASDAQ:ROIC) Coverage Initiated by Analysts at StockNews.com

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

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

Retail Opportunity Investments Stock Up 0.1 %

Shares of ROIC opened at $17.40 on Tuesday. The firm has a 50 day simple moving average of $16.32 and a two-hundred day simple moving average of $14.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. Retail Opportunity Investments has a one year low of $11.87 and a one year high of $17.43. The company has a market cap of $2.24 billion, a P/E ratio of 37.83 and a beta of 1.44.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 4.32% and a net margin of 17.38%. Retail Opportunity Investments’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.27 EPS. Research analysts forecast that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, December 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.45%. Retail Opportunity Investments’s payout ratio is 130.43%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its holdings in Retail Opportunity Investments by 2.7% in the 2nd quarter. Arizona State Retirement System now owns 35,555 shares of the real estate investment trust’s stock worth $442,000 after acquiring an additional 927 shares during the last quarter. Creative Planning grew its stake in Retail Opportunity Investments by 6.7% in the 3rd quarter. Creative Planning now owns 18,988 shares of the real estate investment trust’s stock worth $299,000 after buying an additional 1,194 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Retail Opportunity Investments by 35.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock valued at $77,000 after buying an additional 1,289 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Retail Opportunity Investments by 7.4% during the 2nd quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock worth $236,000 after acquiring an additional 1,307 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of Retail Opportunity Investments by 0.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 183,780 shares of the real estate investment trust’s stock valued at $2,891,000 after purchasing an additional 1,400 shares during the last quarter. 97.16% of the stock is currently owned by hedge funds and other institutional investors.

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.