Renaissance Technologies LLC Sells 183,300 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Renaissance Technologies LLC decreased its holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 37.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 305,000 shares of the real estate investment trust’s stock after selling 183,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Retail Opportunity Investments were worth $3,791,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ROIC. Inspire Investing LLC boosted its stake in Retail Opportunity Investments by 3.1% in the 1st quarter. Inspire Investing LLC now owns 28,070 shares of the real estate investment trust’s stock worth $360,000 after purchasing an additional 856 shares in the last quarter. Arizona State Retirement System increased its holdings 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 worth $442,000 after buying an additional 927 shares during the period. Van ECK Associates Corp boosted its holdings in shares of 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 acquiring an additional 1,307 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Retail Opportunity Investments by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 110,276 shares of the real estate investment trust’s stock worth $1,414,000 after purchasing an additional 1,476 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in Retail Opportunity Investments by 2.7% during the second quarter. Louisiana State Employees Retirement System now owns 64,100 shares of the real estate investment trust’s stock valued at $797,000 after purchasing an additional 1,700 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 equities research analysts have commented on ROIC shares. StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. Raymond James lifted their price target on Retail Opportunity Investments from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Finally, Wells Fargo & Company increased their price target on Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.00.

Retail Opportunity Investments Price Performance

Retail Opportunity Investments stock opened at $15.63 on Friday. The company has a fifty day simple moving average of $15.10 and a 200-day simple moving average of $13.40. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 52.10, a PEG ratio of 2.10 and a beta of 1.45. Retail Opportunity Investments Corp. has a 52-week low of $10.98 and a 52-week high of $16.20.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.19). The firm had revenue of $83.32 million for the quarter, compared to analysts’ expectations of $81.19 million. Retail Opportunity Investments had a return on equity of 2.57% and a net margin of 10.40%. Retail Opportunity Investments’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the firm earned $0.27 earnings per share. On average, equities analysts anticipate that Retail Opportunity Investments Corp. will post 1.05 EPS for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Friday, September 20th. Retail Opportunity Investments’s dividend payout ratio is presently 200.00%.

Retail Opportunity Investments 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.