abrdn plc Grows Stock Holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

abrdn plc lifted its position in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 10.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,812 shares of the real estate investment trust’s stock after purchasing an additional 2,367 shares during the period. abrdn plc’s holdings in Retail Opportunity Investments were worth $390,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC lifted its position in 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 acquiring an additional 1,753 shares during the last quarter. Allworth Financial LP lifted its position in Retail Opportunity Investments by 4,320.3% in the third quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 3,197 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Retail Opportunity Investments by 35.2% in the third 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 acquiring an additional 1,289 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Retail Opportunity Investments in the second quarter valued at $82,000. Finally, Point72 DIFC Ltd lifted its position in 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 during the last quarter. 97.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ROIC shares. Bank of America started coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price target for the company. Raymond James cut shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased 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. Finally, StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.50.

Retail Opportunity Investments Price Performance

Shares of ROIC opened at $16.80 on Tuesday. Retail Opportunity Investments Corp. has a fifty-two week low of $11.80 and a fifty-two week high of $17.17. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 36.52 and a beta of 1.44. The firm has a 50-day simple moving average of $15.62 and a 200-day simple moving average of $14.00. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $83.50 million for the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. Retail Opportunity Investments’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company posted $0.27 EPS. On average, equities research analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, December 20th. This represents a $0.60 annualized dividend and a yield of 3.57%. Retail Opportunity Investments’s dividend payout ratio is currently 130.43%.

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.