Millennium Management LLC Sells 950,241 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Millennium Management LLC reduced its stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 74.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 318,213 shares of the real estate investment trust’s stock after selling 950,241 shares during the period. Millennium Management LLC owned 0.25% of Retail Opportunity Investments worth $3,955,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ROIC. Vanguard Group Inc. boosted its holdings in shares of Retail Opportunity Investments by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust’s stock valued at $254,040,000 after purchasing an additional 160,068 shares during the period. Centersquare Investment Management LLC grew its position in shares of Retail Opportunity Investments by 6.5% during the 1st quarter. Centersquare Investment Management LLC now owns 9,319,113 shares of the real estate investment trust’s stock worth $114,346,000 after buying an additional 571,370 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Retail Opportunity Investments by 20.4% during the 2nd quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock worth $74,975,000 after buying an additional 1,020,314 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Retail Opportunity Investments by 2.9% during the second quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock valued at $56,652,000 after buying an additional 127,799 shares during the period. Finally, Lasalle Investment Management Securities LLC raised its holdings in shares of Retail Opportunity Investments by 14.8% in the first quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust’s stock valued at $46,783,000 after acquiring an additional 469,905 shares in the last quarter. 97.16% of the stock is owned by hedge funds and other institutional investors.

Retail Opportunity Investments Stock Up 1.3 %

NASDAQ:ROIC opened at $15.64 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market capitalization of $1.99 billion, a P/E ratio of 52.13, a P/E/G ratio of 2.07 and a beta of 1.45. The company’s 50-day simple moving average is $15.42 and its 200-day simple moving average is $13.61. Retail Opportunity Investments Corp. has a fifty-two week low of $10.98 and a fifty-two week high of $16.20.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.19). The firm had revenue of $83.32 million during 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 earnings per share. On average, equities analysts anticipate that Retail Opportunity Investments Corp. will post 1.05 earnings per share for the current fiscal year.

Retail Opportunity Investments Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. Finally, Raymond James upped their target price on Retail Opportunity Investments from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Retail Opportunity Investments has an average rating of “Hold” and an average target price of $15.00.

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.