Brokerages Set Retail Opportunity Investments Corp. (NASDAQ:ROIC) Price Target at $16.17

Retail Opportunity Investments Corp. (NASDAQ:ROIC) has received an average rating of “Reduce” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $16.17.

Several equities analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Retail Opportunity Investments in a research report on Wednesday. They set a “hold” rating for the company. BMO Capital Markets upped their price target on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a research report on Friday, November 8th. Bank of America assumed coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They set an “underperform” rating and a $14.00 price target for the company. Wells Fargo & Company upped their price target on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $17.50 target price (up previously from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday, November 7th.

Retail Opportunity Investments Trading Up 0.1 %

NASDAQ ROIC opened at $17.43 on Monday. The stock has a market cap of $2.24 billion, a P/E ratio of 37.89 and a beta of 1.47. The company’s fifty day simple moving average is $16.43 and its 200-day simple moving average is $14.74. 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 has a 52 week low of $11.87 and a 52 week high of $17.49.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings results 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). The company had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.27 earnings per share. Equities research analysts predict that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.44%. Retail Opportunity Investments’s dividend payout ratio is currently 130.43%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in shares of Retail Opportunity Investments by 1.3% in the third quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust’s stock worth $96,072,000 after buying an additional 75,803 shares during the period. Federated Hermes Inc. boosted its holdings 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 during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Retail Opportunity Investments by 3.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,300,317 shares of the real estate investment trust’s stock worth $41,023,000 after purchasing an additional 118,766 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Retail Opportunity Investments by 0.7% during the third quarter. Geode Capital Management LLC now owns 3,290,973 shares of the real estate investment trust’s stock worth $51,776,000 after purchasing an additional 24,421 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Retail Opportunity Investments by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,347,118 shares of the real estate investment trust’s stock worth $36,920,000 after purchasing an additional 85,037 shares during the period. 97.16% of the stock is currently 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.