Retail Opportunity Investments (NASDAQ:ROIC) Research Coverage Started at StockNews.com

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

Other equities analysts have also recently issued research reports about 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. 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 target price on the stock. BMO Capital Markets upped their price target on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a research report on Friday, November 8th. KeyCorp downgraded Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. Finally, Baird R W lowered shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.17.

Retail Opportunity Investments Price Performance

NASDAQ:ROIC opened at $17.38 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 stock’s 50-day moving average price is $17.05 and its 200-day moving average price is $15.39. The stock has a market capitalization of $2.24 billion, a PE ratio of 37.78 and a beta of 1.47. Retail Opportunity Investments has a 52 week low of $11.87 and a 52 week high of $17.52.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its earnings results 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). Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The company had revenue of $83.50 million during the quarter, compared to analysts’ expectations of $82.13 million. During the same quarter in the previous year, the company earned $0.27 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts expect that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The business also recently disclosed 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 dividend yield of 3.45%. Retail Opportunity Investments’s payout ratio is presently 130.43%.

Institutional Trading of Retail Opportunity Investments

Several hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in Retail Opportunity Investments by 1.3% in 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. Geode Capital Management LLC lifted its position in Retail Opportunity Investments by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,290,973 shares of the real estate investment trust’s stock worth $51,776,000 after buying an additional 24,421 shares in the last quarter. Barclays PLC lifted its position in Retail Opportunity Investments by 316.7% during the 3rd quarter. Barclays PLC now owns 211,816 shares of the real estate investment trust’s stock worth $3,331,000 after buying an additional 160,981 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Retail Opportunity Investments by 0.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 183,780 shares of the real estate investment trust’s stock worth $2,891,000 after acquiring an additional 1,400 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Retail Opportunity Investments in the 3rd quarter valued at about $267,000. 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.