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

StockNews.com began coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research note issued to investors on Tuesday morning. The brokerage issued a hold rating on the real estate investment trust’s stock.

Several other equities research analysts also recently issued reports on the company. Baird R W downgraded Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America assumed coverage on shares of Retail Opportunity Investments in a report on Thursday, October 24th. They set an “underperform” rating and a $14.00 target price on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $17.50 price target (up previously from $16.00) on shares of Retail Opportunity Investments in a report on Thursday, November 7th. BMO Capital Markets raised their price objective on shares of 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, Wells Fargo & Company upped their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. 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

Shares of ROIC stock opened at $17.40 on Tuesday. The stock has a market cap of $2.24 billion, a PE ratio of 37.83 and a beta of 1.44. The stock has a 50-day moving average of $16.32 and a 200-day moving average of $14.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. Retail Opportunity Investments has a one year low of $11.87 and a one year high of $17.43.

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). Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The firm had revenue of $83.50 million during the quarter, compared to the consensus estimate of $82.13 million. During the same period in the previous year, the company posted $0.27 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, sell-side analysts expect that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Dividend Announcement

The firm 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 dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.60 annualized dividend and a yield of 3.45%. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 130.43%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ROIC. International Assets Investment Management LLC lifted its position in shares of Retail Opportunity Investments by 1,473.1% in the third quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 1,753 shares during the last quarter. Allworth Financial LP increased its stake 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 purchasing an additional 3,197 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in 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 buying an additional 1,289 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Retail Opportunity Investments in the second quarter valued at about $82,000. Finally, Point72 DIFC Ltd grew its stake in shares of Retail Opportunity Investments by 71.8% in the second quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 3,145 shares in the last quarter. Institutional investors and hedge funds 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.