Metis Global Partners LLC Buys Shares of 13,127 Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Metis Global Partners LLC bought a new position in Retail Opportunity Investments Corp. (NASDAQ:ROIC) in the third quarter, Holdings Channel.com reports. The institutional investor bought 13,127 shares of the real estate investment trust’s stock, valued at approximately $206,000.

Several other hedge funds have also modified their holdings of ROIC. Principal Financial Group Inc. raised its stake in shares of 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 acquiring an additional 1,020,314 shares in the last quarter. Lasalle Investment Management Securities LLC grew its holdings in 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 worth $46,783,000 after purchasing an additional 469,905 shares during the last quarter. Easterly Investment Partners LLC acquired a new position in shares of Retail Opportunity Investments during the third quarter worth $4,556,000. Vanguard Group Inc. lifted its holdings in shares of Retail Opportunity Investments by 0.8% during 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 purchasing an additional 160,068 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Retail Opportunity Investments by 2.9% in 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 purchasing an additional 127,799 shares in the last quarter. 97.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. BMO Capital Markets upped their target price on 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. 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 report on Wednesday, August 28th. StockNews.com started coverage on shares of Retail Opportunity Investments in a research note on Monday. They issued a “hold” rating for the company. Baird R W lowered shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Bank of America started coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They set an “underperform” rating and a $14.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, Retail Opportunity Investments currently has a consensus rating of “Hold” and a consensus price target of $16.17.

Retail Opportunity Investments Stock Performance

Shares of NASDAQ ROIC opened at $17.38 on Wednesday. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 37.78 and a beta of 1.44. Retail Opportunity Investments Corp. has a 12 month low of $11.87 and a 12 month high of $17.40. The company has a 50 day simple moving average of $16.06 and a two-hundred day simple moving average of $14.38. 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 posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $83.50 million during the quarter, compared to analysts’ expectations of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. Retail Opportunity Investments’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 earnings per share. As a group, analysts predict that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Announces Dividend

The business also recently declared 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. This represents a $0.60 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio is currently 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.