Retail Opportunity Investments (NASDAQ:ROIC) Reaches New 52-Week High – Here’s What Happened

Retail Opportunity Investments Corp. (NASDAQ:ROIC)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $17.52 and last traded at $17.44, with a volume of 88911 shares trading hands. The stock had previously closed at $17.43.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ROIC shares. StockNews.com started coverage on shares of Retail Opportunity Investments in a research note on Wednesday. They issued a “hold” rating on the stock. Robert W. Baird reissued a “neutral” rating and issued a $17.50 price objective (up from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. Raymond James cut shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Bank of America assumed coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price objective on the stock. Finally, BMO Capital Markets boosted their target price on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, Retail Opportunity Investments currently has an average rating of “Hold” and a consensus target price of $16.17.

Retail Opportunity Investments Trading Down 0.1 %

The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 37.91 and a beta of 1.47. 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 firm’s fifty day moving average is $16.50 and its 200-day moving average is $14.79.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The company had revenue of $83.50 million for the quarter, compared to analyst estimates of $82.13 million. During the same quarter in the prior year, the company posted $0.27 EPS. Retail Opportunity Investments’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities 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 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. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.44%. Retail Opportunity Investments’s dividend payout ratio is currently 130.43%.

Hedge Funds Weigh In On Retail Opportunity Investments

Several institutional investors have recently made changes to their positions in ROIC. Principal Financial Group Inc. raised its holdings in shares of Retail Opportunity Investments by 20.4% in 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 acquiring an additional 1,020,314 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Retail Opportunity Investments by 296.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 952,252 shares of the real estate investment trust’s stock worth $14,979,000 after acquiring an additional 711,835 shares during the last quarter. Strategy Asset Managers LLC raised its holdings in shares of 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 acquiring an additional 320,520 shares during the last quarter. Easterly Investment Partners LLC acquired a new stake in shares of Retail Opportunity Investments in the 3rd quarter worth about $4,556,000. Finally, Barclays PLC raised its holdings in shares of Retail Opportunity Investments by 316.7% in the 3rd quarter. Barclays PLC now owns 211,816 shares of the real estate investment trust’s stock worth $3,331,000 after acquiring an additional 160,981 shares during the last quarter. Institutional investors and hedge funds own 97.16% of the company’s stock.

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.