Retail Opportunity Investments Corp. (NASDAQ:ROIC) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) from a sell rating to a hold rating in a report released on Tuesday, October 31st.

According to Zacks, “Retail Opportunity Investments Corp. is a corporation that intends to qualify as a REIT for U.S. federal incoming tax purposes and that expects to invest in, acquire, own, lease, reposition and manage a diverse portfolio of necessity-based retail properties. This includes primarily, well located community and neighborhood shopping centers, anchored by national or regional supermarkets and drugstores. The company may also acquire other retail properties, including power centers, regional malls lifestyle centers and single-tenant retail locations that are leased to national, regional and local tenants. In addition, the Company may supplement its direct purchases of retail properties with first mortgages or second mortgages, mezzanine loans, bridge or other loans or debt investments related to retail properties, in each case provided that the underlying real estate meets the Company’s criteria for direct investment. “

Several other research firms have also commented on ROIC. Citigroup Inc. restated a neutral rating and issued a $19.00 price target (down previously from $21.00) on shares of Retail Opportunity Investments Corp. in a report on Monday, July 10th. BidaskClub upgraded shares of Retail Opportunity Investments Corp. from a sell rating to a hold rating in a report on Sunday, July 16th. Jefferies Group LLC restated a buy rating and issued a $25.00 price target on shares of Retail Opportunity Investments Corp. in a report on Tuesday, July 25th. Royal Bank Of Canada reiterated a hold rating and set a $23.00 price objective on shares of Retail Opportunity Investments Corp. in a research note on Thursday, July 27th. Finally, Robert W. Baird reiterated a buy rating and set a $22.00 price objective on shares of Retail Opportunity Investments Corp. in a research note on Thursday, August 24th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $22.00.

Retail Opportunity Investments Corp. (NASDAQ ROIC) traded up $0.14 during mid-day trading on Tuesday, hitting $19.55. 799,985 shares of the company were exchanged, compared to its average volume of 1,006,273. Retail Opportunity Investments Corp. has a 52-week low of $17.87 and a 52-week high of $22.37. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a market cap of $2,145.23, a PE ratio of 17.61, a PEG ratio of 2.54 and a beta of 0.66.

Retail Opportunity Investments Corp. (NASDAQ:ROIC) last released its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.21). Retail Opportunity Investments Corp. had a return on equity of 2.86% and a net margin of 14.13%. The firm had revenue of $67.97 million for the quarter, compared to analysts’ expectations of $68.34 million. During the same period in the prior year, the firm posted $0.26 earnings per share. Retail Opportunity Investments Corp.’s revenue for the quarter was up 14.5% on a year-over-year basis. equities research analysts predict that Retail Opportunity Investments Corp. will post 1.13 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be issued a $0.188 dividend. This represents a $0.75 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Wednesday, December 13th. Retail Opportunity Investments Corp.’s dividend payout ratio (DPR) is currently 220.59%.

Hedge funds have recently added to or reduced their stakes in the company. Riverhead Capital Management LLC boosted its holdings in shares of Retail Opportunity Investments Corp. by 55.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,327 shares of the real estate investment trust’s stock valued at $141,000 after acquiring an additional 2,627 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Retail Opportunity Investments Corp. by 15.5% during the second quarter. Daiwa Securities Group Inc. now owns 9,700 shares of the real estate investment trust’s stock worth $186,000 after buying an additional 1,300 shares in the last quarter. Shelton Capital Management boosted its holdings in Retail Opportunity Investments Corp. by 5.6% during the second quarter. Shelton Capital Management now owns 10,858 shares of the real estate investment trust’s stock worth $208,000 after buying an additional 579 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Retail Opportunity Investments Corp. by 77.6% during the second quarter. SG Americas Securities LLC now owns 10,965 shares of the real estate investment trust’s stock worth $210,000 after buying an additional 4,790 shares in the last quarter. Finally, Flinton Capital Management LLC boosted its holdings in Retail Opportunity Investments Corp. by 56.4% during the second quarter. Flinton Capital Management LLC now owns 11,564 shares of the real estate investment trust’s stock worth $222,000 after buying an additional 4,172 shares in the last quarter. 96.01% of the stock is currently owned by institutional investors and hedge funds.

About Retail Opportunity Investments Corp.

Retail Opportunity Investments Corp. (ROIC) is a fully integrated, self-managed real estate investment trust (REIT). The Company specializes in the acquisition, ownership and management of necessity-based community and neighborhood shopping centers on the west coast of the United States, anchored by supermarkets and drugstores.

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Analyst Recommendations for Retail Opportunity Investments Corp. (NASDAQ:ROIC)

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