Retail Opportunity Investments Corp. (NASDAQ:ROIC) Position Lifted by Federated Hermes Inc.

Federated Hermes Inc. raised its stake in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 10.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,216,242 shares of the real estate investment trust’s stock after acquiring an additional 409,837 shares during the quarter. Federated Hermes Inc. owned approximately 3.35% of Retail Opportunity Investments worth $59,154,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund bought a new position in shares of Retail Opportunity Investments in the 3rd quarter worth about $890,000. Qube Research & Technologies Ltd lifted its position in shares of Retail Opportunity Investments by 559.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 189,585 shares of the real estate investment trust’s stock worth $2,347,000 after buying an additional 160,818 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Retail Opportunity Investments by 7.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 48,940 shares of the real estate investment trust’s stock worth $606,000 after buying an additional 3,430 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Retail Opportunity Investments by 3.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 40,240 shares of the real estate investment trust’s stock worth $498,000 after buying an additional 1,477 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Retail Opportunity Investments by 4.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 206,066 shares of the real estate investment trust’s stock worth $2,551,000 after buying an additional 9,094 shares during the last quarter. 97.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ROIC has been the topic of a number of recent research reports. KeyCorp upgraded shares of Retail Opportunity Investments from a “sector weight” rating to an “overweight” rating and set a $16.00 price target on the stock in a research report on Friday, January 5th. Bank of America reaffirmed an “underperform” rating and issued a $12.00 price objective (down previously from $14.50) on shares of Retail Opportunity Investments in a report on Friday, April 5th. Finally, StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $14.75.

Retail Opportunity Investments Trading Up 1.6 %

Shares of NASDAQ:ROIC opened at $12.28 on Friday. The company has a market cap of $1.57 billion, a PE ratio of 45.48 and a beta of 1.42. The company’s 50-day moving average price is $12.69 and its 200 day moving average price is $12.90. Retail Opportunity Investments Corp. has a fifty-two week low of $10.98 and a fifty-two week high of $15.16. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.01.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.21). The firm had revenue of $84.60 million during the quarter, compared to the consensus estimate of $81.09 million. Retail Opportunity Investments had a net margin of 10.54% and a return on equity of 2.53%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 earnings per share. Sell-side analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.89%. Retail Opportunity Investments’s dividend payout ratio (DPR) is 222.23%.

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.