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

Retail Opportunity Investments Corp. (NASDAQ:ROIC) has earned an average rating of “Reduce” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $16.17.

A number of research firms recently issued reports on ROIC. KeyCorp lowered shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. BMO Capital Markets raised their target price on 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. Raymond James downgraded Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Bank of America started coverage on shares of Retail Opportunity Investments in a report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 target price on the stock. Finally, 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 report on Thursday, November 7th.

Retail Opportunity Investments Price Performance

NASDAQ ROIC opened at $17.35 on Friday. Retail Opportunity Investments has a 1 year low of $11.87 and a 1 year high of $17.52. The stock’s 50-day moving average price is $17.01 and its two-hundred day moving average price is $15.34. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04. The company has a market cap of $2.23 billion, a PE ratio of 37.72 and a beta of 1.47.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. Retail Opportunity Investments’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.27 earnings per share. On average, analysts predict that Retail Opportunity Investments will post 1.04 EPS for the current year.

Retail Opportunity Investments Dividend Announcement

The business also recently declared 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio (DPR) is currently 130.43%.

Institutional Trading of Retail Opportunity Investments

A number of hedge funds have recently modified their holdings of the company. Arizona State Retirement System lifted its position in Retail Opportunity Investments by 2.7% in the 2nd quarter. Arizona State Retirement System now owns 35,555 shares of the real estate investment trust’s stock valued at $442,000 after acquiring an additional 927 shares in the last quarter. Creative Planning boosted its stake in shares of Retail Opportunity Investments by 6.7% during the 3rd quarter. Creative Planning now owns 18,988 shares of the real estate investment trust’s stock worth $299,000 after acquiring an additional 1,194 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 purchasing an additional 1,289 shares during the last quarter. Van ECK Associates Corp grew its stake in Retail Opportunity Investments by 7.4% in the 2nd quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock valued at $236,000 after buying an additional 1,307 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Retail Opportunity Investments by 0.8% during the third quarter. Public Employees Retirement System of Ohio now owns 183,780 shares of the real estate investment trust’s stock worth $2,891,000 after purchasing an additional 1,400 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.