Sumitomo Mitsui Trust Group Inc. Has $23.66 Million Stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Sumitomo Mitsui Trust Group Inc. cut its position in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 54.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,504,285 shares of the real estate investment trust’s stock after selling 1,796,032 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 1.17% of Retail Opportunity Investments worth $23,662,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC grew its holdings 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 worth $29,000 after acquiring an additional 1,753 shares during the period. Vanguard Group Inc. grew its stake in Retail Opportunity Investments by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust’s stock worth $254,040,000 after purchasing an additional 160,068 shares during the period. Lasalle Investment Management Securities LLC grew its stake in Retail Opportunity Investments by 14.8% during the first quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust’s stock worth $46,783,000 after purchasing an additional 469,905 shares during the period. Federated Hermes Inc. lifted its stake in Retail Opportunity Investments by 2.9% in 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, Principal Financial Group Inc. lifted its stake 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 buying an additional 75,803 shares during the period. Institutional investors own 97.16% of the company’s stock.

Retail Opportunity Investments Stock Performance

Shares of ROIC opened at $17.35 on Monday. The firm has a market capitalization of $2.23 billion, a P/E ratio of 37.72 and a beta of 1.44. Retail Opportunity Investments Corp. has a 52 week low of $11.87 and a 52 week high of $17.40. The stock has a 50 day moving average price of $15.97 and a two-hundred day moving average price of $14.31. 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 announced its quarterly earnings results 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). Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The company had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. During the same quarter last year, the company posted $0.27 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities analysts forecast that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 130.43%.

Wall Street Analysts Forecast Growth

ROIC has been the subject of several research analyst reports. BMO Capital Markets lifted their price objective on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research note on Friday, November 8th. Bank of America assumed coverage on shares of Retail Opportunity Investments in a report on Thursday, October 24th. They set an “underperform” rating and a $14.00 price objective on the stock. StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. Raymond James downgraded Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price objective on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.17.

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.