Amalgamated Bank Cuts Holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Amalgamated Bank decreased its position in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 2.6% in the second quarter, Holdings Channel reports. The institutional investor owned 38,183 shares of the real estate investment trust’s stock after selling 1,023 shares during the period. Amalgamated Bank’s holdings in Retail Opportunity Investments were worth $475,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ROIC. Vanguard Group Inc. increased its stake in shares of Retail Opportunity Investments by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust’s stock worth $254,040,000 after purchasing an additional 160,068 shares in the last quarter. Centersquare Investment Management LLC increased its stake in shares of Retail Opportunity Investments by 6.5% during the first quarter. Centersquare Investment Management LLC now owns 9,319,113 shares of the real estate investment trust’s stock worth $114,346,000 after purchasing an additional 571,370 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Retail Opportunity Investments by 20.4% during the second quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock worth $74,975,000 after purchasing an additional 1,020,314 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Retail Opportunity Investments by 2.9% during the second quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock worth $56,652,000 after purchasing an additional 127,799 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC grew its stake in 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 acquiring an additional 469,905 shares in the last quarter. Hedge funds and other institutional investors own 97.16% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on ROIC shares. StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. Wells Fargo & Company upped their price objective on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Finally, Raymond James boosted their target price on shares of Retail Opportunity Investments from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.00.

Retail Opportunity Investments Stock Performance

Shares of ROIC stock opened at $15.63 on Monday. Retail Opportunity Investments Corp. has a one year low of $10.98 and a one year high of $16.20. The firm’s 50 day moving average price is $15.10 and its 200-day moving average price is $13.40. The firm has a market cap of $1.99 billion, a P/E ratio of 52.10, a P/E/G ratio of 2.10 and a beta of 1.45. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.38 and a current ratio of 1.38.

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

Retail Opportunity Investments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Friday, September 20th. Retail Opportunity Investments’s payout ratio is currently 200.00%.

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.