Retail Opportunity Investments (NASDAQ:ROIC) Sees Strong Trading Volume – Here’s Why

Retail Opportunity Investments Corp. (NASDAQ:ROIC) shares saw unusually-strong trading volume on Friday . Approximately 2,842,959 shares changed hands during trading, an increase of 206% from the previous session’s volume of 929,414 shares.The stock last traded at $17.38 and had previously closed at $17.39.

Analyst Ratings Changes

Several analysts recently commented on ROIC shares. StockNews.com began coverage on shares of Retail Opportunity Investments in a research note on Sunday, January 5th. They issued a “hold” rating for the company. Raymond James lowered Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Robert W. Baird reaffirmed a “neutral” rating and issued a $17.50 price objective (up from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. Bank of America assumed coverage on Retail Opportunity Investments in a report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 target price on the stock. Finally, BMO Capital Markets lifted their price target on Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $16.20.

Retail Opportunity Investments Stock Performance

The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 37.72 and a beta of 1.46. The stock has a fifty day moving average price of $17.36 and a two-hundred day moving average price of $15.69.

Retail Opportunity Investments (NASDAQ:ROIC) last released its 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 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 analysts’ expectations of $82.13 million. During the same quarter last year, the company posted $0.27 earnings per share. Retail Opportunity Investments’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, analysts forecast that Retail Opportunity Investments Corp. will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.60 annualized dividend and a yield of 3.46%. Retail Opportunity Investments’s payout ratio is currently 130.43%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC grew 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 purchasing an additional 1,753 shares during the period. Allworth Financial LP boosted its stake in 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 buying an additional 3,197 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Retail Opportunity Investments by 117.8% during the 4th quarter. Versant Capital Management Inc now owns 3,572 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 1,932 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 acquiring an additional 1,289 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Retail Opportunity Investments in the second quarter worth approximately $82,000. 97.16% of the stock is currently owned by institutional investors and hedge funds.

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.