Retail Opportunity Investments Corp. (NASDAQ:ROIC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 3.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,872,537 shares of the real estate investment trust’s stock after selling 235,056 shares during the period. Principal Financial Group Inc.’s holdings in Retail Opportunity Investments were worth $101,947,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ROIC. International Assets Investment Management LLC increased 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 purchasing an additional 1,753 shares during the last quarter. Allworth Financial LP boosted its position in Retail Opportunity Investments by 4,320.3% during the 3rd quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 3,197 shares during the period. Versant Capital Management Inc boosted its position in Retail Opportunity Investments by 117.8% during the 4th quarter. Versant Capital Management Inc now owns 3,572 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 1,932 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Retail Opportunity Investments by 35.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock worth $77,000 after acquiring an additional 1,289 shares during the period. Finally, KBC Group NV boosted its position in Retail Opportunity Investments by 51.7% during the 4th quarter. KBC Group NV now owns 6,026 shares of the real estate investment trust’s stock worth $105,000 after acquiring an additional 2,053 shares during the period. 97.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on ROIC shares. Raymond James lowered Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Bank of America began coverage on Retail Opportunity Investments in a report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price objective for the company. Robert W. Baird reaffirmed a “neutral” rating and set a $17.50 target price (up from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday, November 7th. Baird R W lowered Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, KeyCorp lowered Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $16.20.

Retail Opportunity Investments Stock Performance

Shares of ROIC stock opened at $17.51 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. Retail Opportunity Investments Corp. has a fifty-two week low of $11.87 and a fifty-two week high of $17.52. The stock’s 50-day moving average is $17.43 and its two-hundred day moving average is $16.51. The firm has a market cap of $2.26 billion, a P/E ratio of 38.07 and a beta of 1.45.

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.