RBO & Co. LLC Sells 4,221 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

RBO & Co. LLC decreased its position in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 0.6% during the third quarter, HoldingsChannel reports. The firm owned 756,905 shares of the real estate investment trust’s stock after selling 4,221 shares during the quarter. Retail Opportunity Investments comprises approximately 1.9% of RBO & Co. LLC’s holdings, making the stock its 29th biggest position. RBO & Co. LLC’s holdings in Retail Opportunity Investments were worth $11,906,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ROIC. Principal Financial Group Inc. lifted its holdings in shares of Retail Opportunity Investments by 20.4% during the second 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 during the last quarter. Lasalle Investment Management Securities LLC grew its position in Retail Opportunity Investments by 14.8% in the 1st 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 last quarter. Strategy Asset Managers LLC grew its position in Retail Opportunity Investments by 57.7% in the 3rd quarter. Strategy Asset Managers LLC now owns 876,179 shares of the real estate investment trust’s stock worth $13,782,000 after purchasing an additional 320,520 shares during the last quarter. Easterly Investment Partners LLC bought a new position in shares of Retail Opportunity Investments during the 3rd quarter worth about $4,556,000. Finally, Vanguard Group Inc. raised its position in shares of 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 valued at $254,040,000 after buying an additional 160,068 shares during the last quarter. 97.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ROIC shares. Bank of America assumed coverage on Retail Opportunity Investments in a research report on Thursday, October 24th. They set an “underperform” rating and a $14.00 target price on the stock. Raymond James cut Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. StockNews.com assumed coverage on Retail Opportunity Investments in a research report on Tuesday. They issued a “hold” rating for the company. Robert W. Baird reiterated a “neutral” rating and set a $17.50 price target (up previously from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. Finally, Baird R W cut shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.17.

Retail Opportunity Investments Price Performance

Shares of ROIC stock opened at $17.41 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. The stock’s fifty day simple moving average is $16.20 and its 200 day simple moving average is $14.52. Retail Opportunity Investments Corp. has a one year low of $11.87 and a one year high of $17.42. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 37.85 and a beta of 1.44.

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 the consensus estimate of $0.26 by ($0.01). The firm had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 EPS. On average, analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders 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 dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments’s payout ratio is 130.43%.

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.