Wolverine Asset Management LLC Purchases 116,797 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Wolverine Asset Management LLC increased its position in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 130.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 206,218 shares of the real estate investment trust’s stock after purchasing an additional 116,797 shares during the period. Wolverine Asset Management LLC’s holdings in Retail Opportunity Investments were worth $2,563,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ROIC. Van ECK Associates Corp boosted its stake in Retail Opportunity Investments by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 17,253 shares of the real estate investment trust’s stock worth $242,000 after purchasing an additional 2,837 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Retail Opportunity Investments by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,100,480 shares of the real estate investment trust’s stock worth $29,470,000 after buying an additional 58,171 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Retail Opportunity Investments by 158.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,753,614 shares of the real estate investment trust’s stock valued at $24,603,000 after buying an additional 1,074,741 shares during the last quarter. Westpac Banking Corp purchased a new stake in shares of Retail Opportunity Investments during the fourth quarter valued at approximately $356,000. Finally, Norges Bank bought a new stake in shares of Retail Opportunity Investments during the fourth quarter valued at approximately $11,328,000. Institutional investors own 97.16% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. 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. Raymond James upped their price target on Retail Opportunity Investments from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Finally, StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Retail Opportunity Investments has a consensus rating of “Hold” and an average target price of $15.00.

Retail Opportunity Investments Stock Down 1.7 %

Retail Opportunity Investments stock opened at $15.03 on Wednesday. The stock has a market cap of $1.92 billion, a PE ratio of 50.10, a price-to-earnings-growth ratio of 2.03 and a beta of 1.45. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a fifty day moving average of $14.09 and a 200 day moving average of $13.07. Retail Opportunity Investments Corp. has a one year low of $10.98 and a one year high of $15.75.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.19). Retail Opportunity Investments had a return on equity of 2.57% and a net margin of 10.40%. The business had revenue of $83.32 million for the quarter, compared to analysts’ expectations of $81.19 million. During the same quarter in the prior year, the business earned $0.27 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. As a group, sell-side analysts predict that Retail Opportunity Investments Corp. will post 1.05 EPS for the current year.

Retail Opportunity Investments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Friday, September 20th. Retail Opportunity Investments’s payout ratio is 200.00%.

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.