Retail Opportunity Investments (NASDAQ:ROIC) Rating Lowered to Sell at StockNews.com

StockNews.com lowered shares of Retail Opportunity Investments (NASDAQ:ROIC) from a hold rating to a sell rating in a research note released on Friday.

Separately, Wells Fargo & Company decreased their price target on shares of Retail Opportunity Investments from $14.00 to $13.50 and set an equal weight rating on the stock in a report on Tuesday, May 28th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $14.38.

Retail Opportunity Investments Stock Up 0.8 %

NASDAQ ROIC opened at $15.25 on Friday. The business has a fifty day moving average price of $13.11 and a two-hundred day moving average price of $12.86. The stock has a market capitalization of $1.94 billion, a PE ratio of 50.83, a PEG ratio of 2.01 and a beta of 1.45. Retail Opportunity Investments has a fifty-two week low of $10.98 and a fifty-two week high of $15.75. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.38 and a quick ratio of 1.38.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.19). The business had revenue of $83.32 million for the quarter, compared to analyst estimates of $81.19 million. Retail Opportunity Investments had a return on equity of 2.57% and a net margin of 10.40%. Retail Opportunity Investments’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.27 EPS. Equities analysts expect that Retail Opportunity Investments will post 1.05 earnings per share for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be issued a $0.15 dividend. The ex-dividend date is Friday, September 20th. This represents a $0.60 dividend on an annualized basis and a yield of 3.93%. Retail Opportunity Investments’s payout ratio is presently 200.00%.

Institutional Trading of Retail Opportunity Investments

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in Retail Opportunity Investments by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,834,124 shares of the real estate investment trust’s stock valued at $22,798,000 after buying an additional 39,980 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Retail Opportunity Investments by 2.9% during the second quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock valued at $56,652,000 after acquiring an additional 127,799 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Retail Opportunity Investments during the second quarter worth $82,000. Headlands Technologies LLC bought a new stake in shares of Retail Opportunity Investments in the second quarter worth $114,000. Finally, Quest Partners LLC increased its holdings in Retail Opportunity Investments by 98.5% in the second quarter. Quest Partners LLC now owns 203,406 shares of the real estate investment trust’s stock valued at $2,528,000 after purchasing an additional 100,912 shares during the period. 97.16% of the stock is 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.