StockNews.com Begins Coverage on Retail Opportunity Investments (NASDAQ:ROIC)

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

Several other research analysts have also recently issued reports on the company. Raymond James cut Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. 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 research report on Thursday, November 7th. Bank of America assumed coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price target on the stock. Baird R W downgraded shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, KeyCorp cut Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, Retail Opportunity Investments currently has a consensus rating of “Hold” and an average price target of $16.20.

Retail Opportunity Investments Stock Performance

Shares of ROIC stock opened at $17.39 on Friday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average price of $17.25 and a 200-day moving average price of $15.61. Retail Opportunity Investments has a 52 week low of $11.87 and a 52 week high of $17.52. The firm has a market capitalization of $2.24 billion, a PE ratio of 37.80 and a beta of 1.46.

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 analysts’ consensus estimates of $0.26 by ($0.01). The company 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 company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.27 EPS. As a group, equities research analysts expect that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a yield of 3.45%. Retail Opportunity Investments’s dividend payout ratio is presently 130.43%.

Hedge Funds Weigh In On Retail Opportunity Investments

Institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC grew its holdings in shares of Retail Opportunity Investments by 1,473.1% in the third quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 1,753 shares in the last quarter. Allworth Financial LP raised 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 worth $51,000 after purchasing an additional 3,197 shares during the period. Versant Capital Management Inc lifted its stake in shares of 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 last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Retail Opportunity Investments by 35.2% during the third 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 purchasing an additional 1,289 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in Retail Opportunity Investments in the 2nd quarter valued at about $82,000. 97.16% of the stock is owned by hedge funds and other institutional investors.

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.