Raymond James Downgrades Retail Opportunity Investments (NASDAQ:ROIC) to Market Perform

Raymond James lowered shares of Retail Opportunity Investments (NASDAQ:ROIC) from an outperform rating to a market perform rating in a research note published on Wednesday morning, MarketBeat reports.

Several other brokerages also recently commented on ROIC. Bank of America initiated coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They issued an “underperform” rating and a $14.00 target price on the stock. Wells Fargo & Company upped their price target on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Finally, StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Retail Opportunity Investments has an average rating of “Hold” and an average target price of $15.50.

Retail Opportunity Investments Price Performance

Shares of ROIC opened at $15.59 on Wednesday. Retail Opportunity Investments has a twelve month low of $11.80 and a twelve month high of $16.27. 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 firm’s 50 day moving average price is $15.59 and its 200 day moving average price is $13.92. The firm has a market cap of $2.01 billion, a PE ratio of 33.89 and a beta of 1.45.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $83.50 million during the quarter, compared to analyst estimates 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 was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 EPS. As a group, research analysts expect that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be paid 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 3.85%. Retail Opportunity Investments’s payout ratio is 130.43%.

Institutional Investors Weigh In On Retail Opportunity Investments

Several large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC raised its stake in 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 stake in Retail Opportunity Investments by 4,320.3% during the third 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in 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 worth $77,000 after acquiring an additional 1,289 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Retail Opportunity Investments during the second quarter worth about $82,000. Finally, Point72 DIFC Ltd grew its holdings in shares of Retail Opportunity Investments by 71.8% during the second quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 3,145 shares during the last quarter. Institutional investors and hedge funds 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.