Retail Opportunity Investments (NASDAQ:ROIC) Hits New 52-Week High – Here’s What Happened

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

Wall Street Analyst Weigh In

ROIC has been the subject of a number of recent research reports. BMO Capital Markets boosted their target price on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a report on Friday, November 8th. Baird R W lowered Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. StockNews.com assumed coverage on Retail Opportunity Investments in a research note on Tuesday. They set a “hold” rating on the stock. Raymond James lowered Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Finally, KeyCorp downgraded shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, Retail Opportunity Investments has an average rating of “Hold” and a consensus target price of $16.17.

Retail Opportunity Investments Price Performance

The business has a fifty day simple moving average of $16.23 and a 200 day simple moving average of $14.55. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 37.85 and a beta of 1.44.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The firm had revenue of $83.50 million during the quarter, compared to analysts’ expectations of $82.13 million. During the same period in the previous year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts forecast that Retail Opportunity Investments Corp. will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.45%. The ex-dividend date is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio is currently 130.43%.

Institutional Trading of Retail Opportunity Investments

Several hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC boosted its position in 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 valued at $29,000 after buying an additional 1,753 shares during the period. Vanguard Group Inc. grew its stake in Retail Opportunity Investments by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust’s stock worth $254,040,000 after purchasing an additional 160,068 shares in the last quarter. Lasalle Investment Management Securities LLC raised its position in Retail Opportunity Investments by 14.8% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust’s stock valued at $46,783,000 after purchasing an additional 469,905 shares in the last quarter. Federated Hermes Inc. lifted its stake in Retail Opportunity Investments by 2.9% in the second quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock worth $56,652,000 after acquiring an additional 127,799 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Retail Opportunity Investments by 1.3% during the third quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust’s stock worth $96,072,000 after purchasing an additional 75,803 shares in 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.