Retail Opportunity Investments (NASDAQ:ROIC) Now Covered by StockNews.com

StockNews.com began coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research note released on Thursday morning. The brokerage issued a hold rating on the real estate investment trust’s stock.

Several other equities analysts have also weighed in on ROIC. Robert W. Baird restated a “neutral” rating and set a $17.50 target price (up from $16.00) on shares of Retail Opportunity Investments in a report on Thursday, November 7th. 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. Bank of America began coverage on Retail Opportunity Investments in a research report on Thursday, October 24th. They set an “underperform” rating and a $14.00 target price for the company. BMO Capital Markets lifted their price target on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research report on Friday, November 8th. Finally, KeyCorp downgraded shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, Retail Opportunity Investments has a consensus rating of “Hold” and a consensus price target of $16.17.

Retail Opportunity Investments Trading Down 0.1 %

Shares of NASDAQ ROIC opened at $17.44 on Thursday. The business has a 50 day simple moving average of $16.65 and a 200 day simple moving average of $14.94. Retail Opportunity Investments has a 52 week low of $11.87 and a 52 week high of $17.52. The stock 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 quick ratio of 1.92 and a current ratio of 1.92.

Retail Opportunity Investments (NASDAQ:ROIC) last posted 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 business had revenue of $83.50 million during the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 earnings per share. On average, research analysts predict that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal 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 paid a $0.15 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.44%. Retail Opportunity Investments’s payout ratio is 130.43%.

Hedge Funds Weigh In On Retail Opportunity Investments

Several large investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in Retail Opportunity Investments by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,290,973 shares of the real estate investment trust’s stock worth $51,776,000 after purchasing an additional 24,421 shares during the last quarter. Barclays PLC lifted its stake in shares of Retail Opportunity Investments by 316.7% in the third quarter. Barclays PLC now owns 211,816 shares of the real estate investment trust’s stock valued at $3,331,000 after buying an additional 160,981 shares during the period. Public Employees Retirement System of Ohio increased its stake in Retail Opportunity Investments by 0.8% during the third quarter. Public Employees Retirement System of Ohio now owns 183,780 shares of the real estate investment trust’s stock valued at $2,891,000 after acquiring an additional 1,400 shares during the period. XTX Topco Ltd acquired a new position in Retail Opportunity Investments in the 3rd quarter valued at approximately $267,000. Finally, Quantinno Capital Management LP raised its holdings in Retail Opportunity Investments by 22.9% in the 3rd quarter. Quantinno Capital Management LP now owns 23,073 shares of the real estate investment trust’s stock valued at $363,000 after acquiring an additional 4,302 shares in the last quarter. 97.16% of the stock is currently owned by institutional investors and hedge funds.

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.