StockNews.com Initiates Coverage on Retail Opportunity Investments (NASDAQ:ROIC)

StockNews.com began coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research note published on Monday morning. The brokerage issued a hold rating on the real estate investment trust’s stock.

A number of other brokerages have also recently commented on ROIC. Raymond James cut Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. BMO Capital Markets boosted their price target 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. Baird R W downgraded shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. KeyCorp cut shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. 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. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat.com, Retail Opportunity Investments currently has an average rating of “Hold” and a consensus price target of $16.20.

Retail Opportunity Investments Stock Up 0.1 %

ROIC opened at $17.36 on Monday. The company has a market cap of $2.24 billion, a PE ratio of 37.74 and a beta of 1.46. 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 has a 1 year low of $11.87 and a 1 year high of $17.52. The firm has a 50 day moving average price of $17.36 and a 200 day moving average price of $15.72.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The business had revenue of $83.50 million during the quarter, compared to analysts’ expectations 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 was up 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 EPS. Sell-side analysts expect that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 20th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was 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 and other institutional investors have recently made changes to their positions in ROIC. International Assets Investment Management LLC boosted its stake in Retail Opportunity Investments by 1,473.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 1,753 shares during the last quarter. Allworth Financial LP lifted its position in shares of Retail Opportunity Investments by 4,320.3% during the third quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 3,197 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Retail Opportunity Investments by 117.8% during the fourth quarter. Versant Capital Management Inc now owns 3,572 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 1,932 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew 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 worth $77,000 after purchasing an additional 1,289 shares in the last quarter. Finally, Point72 DIFC Ltd increased its holdings in Retail Opportunity Investments by 71.8% in the second quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 3,145 shares during the last quarter. Institutional investors own 97.16% of the company’s stock.

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.