Retail Opportunity Investments (NASDAQ:ROIC) Now Covered by StockNews.com

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

A number of other analysts have also issued reports on the stock. Raymond James lowered shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. 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. Bank of America began coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They issued an “underperform” rating and a $14.00 target price on the stock. KeyCorp downgraded shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $17.50 price objective (up previously from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $16.17.

Retail Opportunity Investments Stock Performance

Retail Opportunity Investments stock opened at $17.44 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market capitalization of $2.24 billion, a P/E ratio of 37.91 and a beta of 1.47. Retail Opportunity Investments has a 1-year low of $11.87 and a 1-year high of $17.52. The company’s 50-day moving average is $16.69 and its 200 day moving average is $14.99.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The business had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. During the same period in the prior year, the business posted $0.27 earnings per share. Retail Opportunity Investments’s revenue was up 2.5% on a year-over-year basis. Research analysts forecast that Retail Opportunity Investments will post 1.04 EPS for the current year.

Retail Opportunity Investments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders 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 annualized dividend and a dividend yield of 3.44%. Retail Opportunity Investments’s payout ratio is presently 130.43%.

Hedge Funds Weigh In On Retail Opportunity Investments

Institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC lifted its holdings in Retail Opportunity Investments by 1,473.1% during the third quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 1,753 shares during the period. Allworth Financial LP raised its position in shares of Retail Opportunity Investments by 4,320.3% in the 3rd quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 3,197 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position 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 worth $77,000 after acquiring an additional 1,289 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Retail Opportunity Investments during the 2nd quarter worth $82,000. Finally, Point72 DIFC Ltd boosted its position in Retail Opportunity Investments by 71.8% during the second quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 3,145 shares in the last quarter. 97.16% of the stock is owned by hedge funds and other institutional investors.

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.