Bank of New York Mellon Corp Boosts Stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Bank of New York Mellon Corp boosted its stake in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,306,866 shares of the real estate investment trust’s stock after buying an additional 13,883 shares during the period. Bank of New York Mellon Corp’s holdings in Retail Opportunity Investments were worth $16,244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Louisiana State Employees Retirement System lifted its holdings in Retail Opportunity Investments by 2.7% during the second quarter. Louisiana State Employees Retirement System now owns 64,100 shares of the real estate investment trust’s stock worth $797,000 after buying an additional 1,700 shares during the period. Stableford Capital II LLC lifted its holdings in Retail Opportunity Investments by 62.7% during the second quarter. Stableford Capital II LLC now owns 203,861 shares of the real estate investment trust’s stock worth $2,746,000 after buying an additional 78,598 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Retail Opportunity Investments by 3.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,300,317 shares of the real estate investment trust’s stock worth $41,023,000 after buying an additional 118,766 shares during the period. Vanderbilt University lifted its holdings in Retail Opportunity Investments by 41.1% during the second quarter. Vanderbilt University now owns 52,104 shares of the real estate investment trust’s stock worth $648,000 after buying an additional 15,186 shares during the period. Finally, Lasalle Investment Management Securities LLC lifted its holdings 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 valued at $46,783,000 after purchasing an additional 469,905 shares during the last quarter. Hedge funds and other institutional investors own 97.16% of the company’s stock.

Wall Street Analysts Forecast Growth

ROIC has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Raymond James increased their price objective on Retail Opportunity Investments from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Finally, StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Retail Opportunity Investments presently has a consensus rating of “Hold” and a consensus target price of $15.00.

Retail Opportunity Investments Price Performance

NASDAQ ROIC opened at $15.11 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.38 and a quick ratio of 1.38. The stock’s fifty day moving average price is $14.26 and its 200 day moving average price is $13.12. Retail Opportunity Investments Corp. has a 1 year low of $10.98 and a 1 year high of $15.75. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 50.37, a PEG ratio of 2.03 and a beta of 1.45.

Retail Opportunity Investments (NASDAQ:ROIC) last released its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $81.19 million. During the same period in the previous year, the company earned $0.27 earnings per share. Retail Opportunity Investments’s revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts forecast that Retail Opportunity Investments Corp. will post 1.05 earnings per share for the current year.

Retail Opportunity Investments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.97%. The ex-dividend date is Friday, September 20th. Retail Opportunity Investments’s dividend payout ratio is currently 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.