Retail Opportunity Investments (NASDAQ:ROIC) Hits New 12-Month High – Here’s Why

Retail Opportunity Investments Corp. (NASDAQ:ROIC) reached a new 52-week high on Wednesday . The stock traded as high as $17.43 and last traded at $17.41, with a volume of 73253 shares traded. The stock had previously closed at $17.40.

Analysts Set New Price Targets

ROIC has been the subject of several research analyst reports. Robert W. Baird restated a “neutral” rating and set a $17.50 price target (up from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. Bank of America initiated coverage on Retail Opportunity Investments in a research note on Thursday, October 24th. They issued an “underperform” rating and a $14.00 target price for the company. Raymond James lowered Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their target price 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. Finally, StockNews.com started coverage on Retail Opportunity Investments in a report on Tuesday. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $16.17.

Retail Opportunity Investments Trading Down 0.1 %

The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92. The business has a fifty day simple moving average of $16.26 and a 200 day simple moving average of $14.57. The company has a market cap of $2.24 billion, a P/E ratio of 37.80 and a beta of 1.44.

Retail Opportunity Investments (NASDAQ:ROIC) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The firm had revenue of $83.50 million for 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 company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 EPS. Analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a $0.15 dividend. 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 dividend payout ratio (DPR) is 130.43%.

Institutional Trading of Retail Opportunity Investments

Several hedge funds have recently made changes to their positions in ROIC. International Assets Investment Management LLC lifted its holdings in shares of Retail Opportunity Investments by 1,473.1% in 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 increased its position in Retail Opportunity Investments by 4,320.3% in the 3rd quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 3,197 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Retail Opportunity Investments by 35.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock valued at $77,000 after acquiring an additional 1,289 shares during the period. Meeder Asset Management Inc. acquired a new stake in Retail Opportunity Investments in the 2nd quarter valued at approximately $82,000. Finally, Point72 DIFC Ltd increased its position in Retail Opportunity Investments by 71.8% in the 2nd quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 3,145 shares during the period. Institutional investors own 97.16% of the company’s stock.

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.