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 commented on ROIC. ValuEngine upgraded XCel Brands from a sell rating to a hold rating in a report on Tuesday, July 9th. BidaskClub upgraded Westport Fuel Systems from a hold rating to a buy rating in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Retail Opportunity Investments has an average rating of Hold and an average target price of $18.00.
Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $0.29 EPS for the quarter, hitting analysts’ consensus estimates of $0.29. Retail Opportunity Investments had a return on equity of 3.46% and a net margin of 15.22%. The company had revenue of $76.05 million during the quarter, compared to analyst estimates of $75.31 million. During the same period in the previous year, the company earned $0.30 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities analysts expect that Retail Opportunity Investments will post 1.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were given a dividend of $0.197 per share. This represents a $0.79 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date was Wednesday, June 12th. Retail Opportunity Investments’s dividend payout ratio is presently 69.30%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ROIC. Norges Bank bought a new stake in shares of Retail Opportunity Investments during the fourth quarter valued at approximately $20,652,000. Centersquare Investment Management LLC bought a new stake in shares of Retail Opportunity Investments during the first quarter valued at approximately $19,668,000. Janus Henderson Group PLC bought a new stake in shares of Retail Opportunity Investments during the first quarter valued at approximately $9,049,000. Federated Investors Inc. PA increased its position in shares of Retail Opportunity Investments by 14.2% during the first quarter. Federated Investors Inc. PA now owns 3,060,003 shares of the real estate investment trust’s stock valued at $53,060,000 after purchasing an additional 379,498 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its position in shares of Retail Opportunity Investments by 239.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 434,833 shares of the real estate investment trust’s stock valued at $6,905,000 after purchasing an additional 306,648 shares during the period. Institutional investors and hedge funds own 92.00% of the company’s stock.
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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