Retail Opportunity Investments (NASDAQ:ROIC) Hits New 12-Month High – Here’s Why

Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $17.43 and last traded at $17.41, with a volume of 73253 shares changing hands. The stock had previously closed at $17.40.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ROIC. Robert W. Baird reiterated a “neutral” rating and set a $17.50 price target (up from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday, November 7th. StockNews.com initiated coverage on Retail Opportunity Investments in a report on Tuesday. They issued a “hold” rating on the stock. Raymond James cut Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. BMO Capital Markets lifted their target price on Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a report on Friday, November 8th. Finally, KeyCorp cut Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Retail Opportunity Investments presently has a consensus rating of “Hold” and an average target price of $16.17.

Retail Opportunity Investments Trading Down 0.1 %

The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 37.80 and a beta of 1.44. The company has a 50-day moving average price of $16.26 and a 200 day moving average price of $14.57. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $83.50 million during 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 business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS. As a group, research analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.45%. Retail Opportunity Investments’s dividend payout ratio is currently 130.43%.

Institutional Trading of Retail Opportunity Investments

Large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its stake in shares of 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 acquiring an additional 1,753 shares in the last quarter. Lasalle Investment Management Securities LLC boosted its stake in shares of Retail Opportunity Investments by 14.8% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust’s stock worth $46,783,000 after acquiring an additional 469,905 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Retail Opportunity Investments by 2.9% during the 2nd quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock worth $56,652,000 after acquiring an additional 127,799 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Retail Opportunity Investments by 1.3% during the 3rd quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust’s stock worth $96,072,000 after purchasing an additional 75,803 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Retail Opportunity Investments by 35.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 1,289 shares during the last quarter. Institutional investors own 97.16% 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 December 31, 2023, ROIC owned 94 shopping centers encompassing approximately 10.6 million square feet.