Geode Capital Management LLC Purchases 24,421 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Geode Capital Management LLC boosted its position in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 0.7% in the third quarter, HoldingsChannel reports. The fund owned 3,290,973 shares of the real estate investment trust’s stock after purchasing an additional 24,421 shares during the quarter. Geode Capital Management LLC’s holdings in Retail Opportunity Investments were worth $51,776,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in shares of Retail Opportunity Investments by 1,473.1% during the third quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,753 shares in the last quarter. Allworth Financial LP increased its position in Retail Opportunity Investments by 4,320.3% during the 3rd quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 3,197 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Retail Opportunity Investments by 35.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock valued at $77,000 after buying an additional 1,289 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Retail Opportunity Investments in the second quarter worth about $82,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in shares of Retail Opportunity Investments by 78.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,122 shares of the real estate investment trust’s stock valued at $112,000 after purchasing an additional 3,124 shares during the last quarter. Hedge funds and other institutional investors own 97.16% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ROIC. BMO Capital Markets upped their price target on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research note on Friday, November 8th. Baird R W lowered Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. KeyCorp downgraded Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. Raymond James cut Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company upped their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.17.

Retail Opportunity Investments Stock Down 0.5 %

Shares of ROIC stock opened at $17.31 on Monday. 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 Corp. has a twelve month low of $11.87 and a twelve month high of $17.52. The stock has a 50 day moving average of $16.88 and a 200 day moving average of $15.19. The stock has a market cap of $2.23 billion, a P/E ratio of 37.63 and a beta of 1.47.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its 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 firm 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 business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 earnings per share. As a group, sell-side analysts expect that Retail Opportunity Investments Corp. will post 1.04 EPS for the current year.

Retail Opportunity Investments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be paid a $0.15 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.47%. Retail Opportunity Investments’s dividend payout ratio 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.