Retail Opportunity Investments (NASDAQ:ROIC) Now Covered by StockNews.com

StockNews.com started coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a report issued on Saturday. The brokerage issued a hold rating on the real estate investment trust’s stock.

A number of other research analysts have also weighed in on ROIC. Raymond James lowered Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. BMO Capital Markets raised 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 note on Friday, November 8th. Baird R W lowered shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird reiterated a “neutral” rating and issued a $17.50 price objective (up previously from $16.00) on shares of Retail Opportunity Investments in a report on Thursday, November 7th. Finally, KeyCorp cut Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $16.17.

Retail Opportunity Investments Stock Performance

NASDAQ:ROIC opened at $17.35 on Friday. The company has a fifty day moving average of $17.01 and a two-hundred day moving average of $15.32. Retail Opportunity Investments has a fifty-two week low of $11.87 and a fifty-two week high of $17.52. The stock has a market capitalization of $2.23 billion, a PE ratio of 37.72 and a beta of 1.47. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings results 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 analysts’ expectations of $82.13 million. During the same period in the prior year, the business posted $0.27 earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, research analysts forecast that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be issued 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 dividend yield of 3.46%. Retail Opportunity Investments’s dividend payout ratio is currently 130.43%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ROIC. Principal Financial Group Inc. raised its position 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 purchasing an additional 75,803 shares during the period. Geode Capital Management LLC increased its position in shares of Retail Opportunity Investments by 0.7% during the 3rd 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 last quarter. Barclays PLC raised its holdings in Retail Opportunity Investments by 316.7% in the 3rd quarter. Barclays PLC now owns 211,816 shares of the real estate investment trust’s stock valued at $3,331,000 after buying an additional 160,981 shares during the period. Public Employees Retirement System of Ohio lifted its position in Retail Opportunity Investments by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 183,780 shares of the real estate investment trust’s stock valued at $2,891,000 after buying an additional 1,400 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Retail Opportunity Investments during the third quarter worth about $267,000. 97.16% of the stock is currently owned by institutional investors and hedge funds.

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.