Stifel Financial Corp Cuts Stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Stifel Financial Corp lessened its stake in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 0.5% during the 3rd quarter, Holdings Channel reports. The firm owned 115,124 shares of the real estate investment trust’s stock after selling 591 shares during the quarter. Stifel Financial Corp’s holdings in Retail Opportunity Investments were worth $1,811,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of ROIC. Principal Financial Group Inc. lifted its holdings in 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 valued at $96,072,000 after acquiring an additional 75,803 shares during the period. Federated Hermes Inc. lifted its position in shares of Retail Opportunity Investments by 2.9% in the second quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock valued at $56,652,000 after acquiring an additional 127,799 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Retail Opportunity Investments by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,347,118 shares of the real estate investment trust’s stock valued at $36,920,000 after purchasing an additional 85,037 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Retail Opportunity Investments by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,834,124 shares of the real estate investment trust’s stock valued at $22,798,000 after buying an additional 39,980 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Retail Opportunity Investments by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 1,306,866 shares of the real estate investment trust’s stock valued at $16,244,000 after purchasing an additional 13,883 shares during the period. 97.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on ROIC. Bank of America started coverage on Retail Opportunity Investments in a research note on Thursday, October 24th. They set an “underperform” rating and a $14.00 target price on the stock. StockNews.com initiated coverage on Retail Opportunity Investments in a research report on Friday. They set a “hold” rating on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $17.50 price target (up from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. Wells Fargo & Company raised their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Finally, Raymond James downgraded shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $16.17.

Retail Opportunity Investments Price Performance

NASDAQ ROIC opened at $17.31 on Friday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $2.23 billion, a PE ratio of 37.63 and a beta of 1.47. Retail Opportunity Investments Corp. has a 12-month low of $11.87 and a 12-month high of $17.52. The company has a 50 day moving average price of $16.88 and a two-hundred day moving average price of $15.15.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share 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 company 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 business posted $0.27 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. As a group, equities analysts predict that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio is 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.