Insider Selling: Retail Opportunity Investments Corp. (NASDAQ:ROIC) Director Sells 30,000 Shares of Stock

Retail Opportunity Investments Corp. (NASDAQ:ROIC) Director Eric S. Zorn sold 30,000 shares of the firm’s stock in a transaction dated Friday, April 30th. The stock was sold at an average price of $17.45, for a total value of $523,500.00. Following the completion of the transaction, the director now directly owns 71,414 shares in the company, valued at $1,246,174.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

NASDAQ:ROIC traded up $0.04 on Monday, hitting $17.64. The company’s stock had a trading volume of 69,520 shares, compared to its average volume of 1,063,766. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 1.12. Retail Opportunity Investments Corp. has a one year low of $7.49 and a one year high of $18.10. The firm has a market capitalization of $2.09 billion, a P/E ratio of 60.83 and a beta of 1.47. The stock has a fifty day moving average of $16.72 and a two-hundred day moving average of $14.36.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its earnings results on Tuesday, April 27th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.18). Retail Opportunity Investments had a return on equity of 2.61% and a net margin of 11.68%. As a group, sell-side analysts anticipate that Retail Opportunity Investments Corp. will post 1.03 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 9th. Shareholders of record on Friday, June 18th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, June 17th. This represents a $0.44 dividend on an annualized basis and a yield of 2.49%. Retail Opportunity Investments’s dividend payout ratio is currently 40.00%.

A number of analysts have recently commented on ROIC shares. DA Davidson upped their target price on Retail Opportunity Investments from $12.00 to $18.00 in a research note on Wednesday, February 24th. Zacks Investment Research raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Saturday, April 3rd. Wells Fargo & Company increased their target price on Retail Opportunity Investments from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 23rd. Robert W. Baird initiated coverage on shares of Retail Opportunity Investments in a research report on Tuesday, April 13th. They issued an “outperform” rating on the stock. Finally, Bank of America upgraded Retail Opportunity Investments from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $11.75 to $16.00 in a research report on Tuesday, January 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $13.56.

A number of institutional investors have recently bought and sold shares of the business. Daiwa Securities Group Inc. lifted its holdings in Retail Opportunity Investments by 9.8% during the first quarter. Daiwa Securities Group Inc. now owns 29,129 shares of the real estate investment trust’s stock worth $462,000 after buying an additional 2,600 shares during the period. Ground Swell Capital LLC acquired a new position in shares of Retail Opportunity Investments during the first quarter worth $164,000. Virginia Retirement Systems ET AL increased its position in shares of Retail Opportunity Investments by 117.9% during the first quarter. Virginia Retirement Systems ET AL now owns 65,600 shares of the real estate investment trust’s stock worth $1,041,000 after purchasing an additional 35,500 shares in the last quarter. Dupont Capital Management Corp increased its position in shares of Retail Opportunity Investments by 9.1% during the first quarter. Dupont Capital Management Corp now owns 77,740 shares of the real estate investment trust’s stock worth $1,234,000 after purchasing an additional 6,515 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in shares of Retail Opportunity Investments by 1,131.5% during the first quarter. Meeder Asset Management Inc. now owns 13,313 shares of the real estate investment trust’s stock worth $211,000 after purchasing an additional 12,232 shares in the last quarter. Institutional investors own 91.04% of the company’s stock.

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 September 30, 2020, ROIC owned 88 shopping centers encompassing approximately 10.1 million square feet.

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