PNC Financial Services Group Inc. lifted its stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 18.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,938 shares of the real estate investment trust’s stock after acquiring an additional 1,247 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Retail Opportunity Investments were worth $140,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. The PNC Financial Services Group Inc. grew its holdings in Retail Opportunity Investments by 9.5% during the first quarter. The PNC Financial Services Group Inc. now owns 6,691 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 581 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in Retail Opportunity Investments by 2.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 39,698 shares of the real estate investment trust’s stock worth $701,000 after purchasing an additional 792 shares during the period. Mutual of America Capital Management LLC grew its holdings in Retail Opportunity Investments by 7.2% during the first quarter. Mutual of America Capital Management LLC now owns 15,775 shares of the real estate investment trust’s stock worth $250,000 after purchasing an additional 1,058 shares during the period. Berman Capital Advisors LLC grew its holdings in Retail Opportunity Investments by 581.3% during the first quarter. Berman Capital Advisors LLC now owns 1,642 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 1,401 shares during the period. Finally, Eaton Vance Management bought a new position in Retail Opportunity Investments during the first quarter worth about $26,000. 94.88% of the stock is currently owned by institutional investors and hedge funds.
ROIC has been the subject of a number of research analyst reports. Zacks Investment Research cut Retail Opportunity Investments from a “buy” rating to a “hold” rating in a report on Wednesday, August 11th. Citigroup upgraded Retail Opportunity Investments from a “neutral” rating to a “buy” rating in a report on Thursday, July 1st. Finally, Wells Fargo & Company lifted their price target on shares of Retail Opportunity Investments from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Thursday, August 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.50.
Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings data on Wednesday, July 28th. The real estate investment trust reported $0.14 EPS for the quarter, beating the consensus estimate of $0.06 by $0.08. Retail Opportunity Investments had a net margin of 13.89% and a return on equity of 3.03%. On average, analysts expect that Retail Opportunity Investments Corp. will post 1 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 8th. Shareholders of record on Friday, September 17th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, September 16th. This represents a $0.44 annualized dividend and a yield of 2.56%. Retail Opportunity Investments’s dividend payout ratio is currently 41.90%.
Retail Opportunity Investments Company Profile
Retail Opportunity Investments Corp. operates as a self-managed real estate investment trust. The company engages in the ownership, management, and redevelopment of retail real estate properties. It specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely-populated, metropolitan markets across the West Coast.
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