Louisiana State Employees Retirement System Acquires 1,700 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Louisiana State Employees Retirement System lifted its holdings in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,100 shares of the real estate investment trust’s stock after purchasing an additional 1,700 shares during the period. Louisiana State Employees Retirement System owned about 0.05% of Retail Opportunity Investments worth $797,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. EntryPoint Capital LLC increased its position in Retail Opportunity Investments by 155.8% in the first quarter. EntryPoint Capital LLC now owns 8,717 shares of the real estate investment trust’s stock worth $112,000 after buying an additional 5,309 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Retail Opportunity Investments in the 1st quarter valued at about $128,000. First Trust Direct Indexing L.P. bought a new stake in Retail Opportunity Investments in the 1st quarter valued at about $129,000. Diversified Trust Co purchased a new stake in Retail Opportunity Investments during the first quarter valued at about $152,000. Finally, M&G Plc bought a new position in Retail Opportunity Investments during the first quarter worth about $154,000. 97.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ROIC. Wells Fargo & Company boosted their price target on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday. Raymond James increased their target price on Retail Opportunity Investments from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Finally, StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $15.00.

Retail Opportunity Investments Price Performance

Shares of NASDAQ:ROIC opened at $15.51 on Friday. The company has a 50 day moving average of $13.91 and a 200 day moving average of $13.03. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.07. The stock has a market cap of $1.98 billion, a P/E ratio of 51.70, a P/E/G ratio of 2.01 and a beta of 1.45. Retail Opportunity Investments Corp. has a 12 month low of $10.98 and a 12 month high of $15.75.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.19). Retail Opportunity Investments had a net margin of 10.40% and a return on equity of 2.57%. The firm had revenue of $83.32 million for the quarter, compared to analysts’ expectations of $81.19 million. During the same quarter last year, the firm earned $0.27 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that Retail Opportunity Investments Corp. will post 1.05 EPS for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, September 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.87%. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 200.00%.

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.