Retail Opportunity Investments Corp. (NASDAQ:ROIC) Receives $15.90 Average PT from Brokerages

Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) have received an average recommendation of “Reduce” from the seven brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $16.17.

Several equities research analysts have weighed in on the company. Robert W. Baird reiterated a “neutral” rating and issued a $17.50 target price (up from $16.00) on shares of Retail Opportunity Investments in a report on Thursday, November 7th. StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. KeyCorp lowered shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Raymond James downgraded shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Finally, Bank of America initiated coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price objective for the company.

Retail Opportunity Investments Stock Up 0.1 %

Shares of ROIC opened at $17.34 on Thursday. The firm has a fifty day moving average price of $15.79 and a 200-day moving average price of $14.17. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $2.23 billion, a P/E ratio of 37.70 and a beta of 1.44. Retail Opportunity Investments has a 12-month low of $11.80 and a 12-month high of $17.40.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $83.50 million during the quarter, compared to analysts’ expectations of $82.13 million. During the same period last year, the firm earned $0.27 earnings per share. Retail Opportunity Investments’s quarterly revenue was up 2.5% on a year-over-year basis. Equities research analysts expect that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a yield of 3.46%. Retail Opportunity Investments’s payout ratio is 130.43%.

Hedge Funds Weigh In On Retail Opportunity Investments

Large investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its stake in Retail Opportunity Investments by 20.4% during the 2nd quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock worth $74,975,000 after buying an additional 1,020,314 shares during the last quarter. Centersquare Investment Management LLC grew 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 acquiring an additional 571,370 shares during the last quarter. Lasalle Investment Management Securities LLC increased its holdings in shares of Retail Opportunity Investments by 14.8% during the first 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. Strategy Asset Managers LLC raised its position in shares of Retail Opportunity Investments by 57.7% in the 3rd quarter. Strategy Asset Managers LLC now owns 876,179 shares of the real estate investment trust’s stock valued at $13,782,000 after purchasing an additional 320,520 shares during the last quarter. Finally, Easterly Investment Partners LLC acquired a new stake in Retail Opportunity Investments in the 3rd quarter worth approximately $4,556,000. 97.16% of the stock is owned by institutional investors and hedge funds.

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.