Van ECK Associates Corp Has $338,000 Stock Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Van ECK Associates Corp lifted its stake in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 12.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 21,302 shares of the real estate investment trust’s stock after purchasing an additional 2,338 shares during the quarter. Van ECK Associates Corp’s holdings in Retail Opportunity Investments were worth $338,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Retail Opportunity Investments by 20.4% in 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 purchasing an additional 1,020,314 shares in the last quarter. Centersquare Investment Management LLC grew its holdings 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 during the last quarter. Lasalle Investment Management Securities LLC increased its stake in shares of Retail Opportunity Investments by 14.8% in 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 buying an additional 469,905 shares during the period. Vanguard Group Inc. raised its holdings in Retail Opportunity Investments by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust’s stock valued at $254,040,000 after buying an additional 160,068 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in Retail Opportunity Investments by 2.9% during the 2nd quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock worth $56,652,000 after buying an additional 127,799 shares during the period. 97.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. KeyCorp downgraded shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. Robert W. Baird reissued a “neutral” rating and issued a $17.50 price target (up previously from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. Baird R W lowered Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, BMO Capital Markets increased their target price on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.17.

Retail Opportunity Investments Stock Performance

ROIC opened at $17.34 on Wednesday. The company has a fifty day moving average price of $15.83 and a two-hundred day moving average price of $14.20. Retail Opportunity Investments Corp. has a 1-year low of $11.80 and a 1-year high of $17.40. The company has a market cap of $2.23 billion, a P/E ratio of 37.70 and a beta of 1.44. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04.

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

Retail Opportunity Investments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a yield of 3.46%. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 130.43%.

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.