StockNews.com Begins Coverage on Retail Opportunity Investments (NASDAQ:ROIC)

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

A number of other analysts have also recently commented on the stock. Raymond James cut shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. BMO Capital Markets raised their target price on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research note on Friday, November 8th. KeyCorp downgraded Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Bank of America started coverage on Retail Opportunity Investments in a research note on Thursday, October 24th. They set an “underperform” rating and a $14.00 target price for the company. Finally, Baird R W cut shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, Retail Opportunity Investments has a consensus rating of “Hold” and an average price target of $16.17.

Retail Opportunity Investments Price Performance

NASDAQ:ROIC opened at $17.37 on Monday. Retail Opportunity Investments has a 52-week low of $11.87 and a 52-week high of $17.40. The company has a market cap of $2.23 billion, a P/E ratio of 37.76 and a beta of 1.44. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92. The stock’s 50-day simple moving average is $15.97 and its 200 day simple moving average is $14.31.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company 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%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. As a group, sell-side analysts forecast that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ROIC. International Assets Investment Management LLC increased its position in Retail Opportunity Investments by 1,473.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,753 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Retail Opportunity Investments by 4,320.3% during the third quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 3,197 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Retail Opportunity Investments by 35.2% in 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 acquiring an additional 1,289 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Retail Opportunity Investments during the 2nd quarter valued at $82,000. Finally, Point72 DIFC Ltd grew its position in Retail Opportunity Investments by 71.8% during the 2nd quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 3,145 shares during the last quarter. Institutional investors own 97.16% 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 December 31, 2023, ROIC owned 94 shopping centers encompassing approximately 10.6 million square feet.