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. “
A number of other brokerages have also recently weighed in on ROIC. ValuEngine raised XCel Brands from a sell rating to a hold rating in a report on Tuesday, July 9th. BidaskClub raised ZIX from a buy rating to a strong-buy rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $18.00.
Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $0.29 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.29. The company had revenue of $76.05 million for the quarter, compared to analysts’ expectations of $75.31 million. Retail Opportunity Investments had a return on equity of 3.46% and a net margin of 15.22%. Retail Opportunity Investments’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.30 EPS. As a group, sell-side analysts anticipate that Retail Opportunity Investments will post 1.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were paid a $0.197 dividend. The ex-dividend date was Wednesday, June 12th. This represents a $0.79 dividend on an annualized basis and a yield of 4.39%. Retail Opportunity Investments’s dividend payout ratio (DPR) is currently 69.30%.
Institutional investors have recently made changes to their positions in the business. First Hawaiian Bank purchased a new position in Retail Opportunity Investments in the 1st quarter worth approximately $32,000. PNC Financial Services Group Inc. increased its stake in shares of Retail Opportunity Investments by 23.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,197 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 603 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Retail Opportunity Investments by 1,542.1% during the first quarter. Quadrant Capital Group LLC now owns 3,005 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 2,822 shares during the period. Nisa Investment Advisors LLC purchased a new position in shares of Retail Opportunity Investments during the first quarter valued at approximately $92,000. Finally, Cipher Capital LP purchased a new position in shares of Retail Opportunity Investments during the fourth quarter valued at approximately $198,000. 92.00% of the stock is currently owned by institutional investors and hedge funds.
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 March 31, 2019, ROIC owned 90 shopping centers encompassing approximately 10.3 million square feet.
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