Retail Opportunity Investments (NASDAQ:ROIC) Upgraded at StockNews.com

StockNews.com upgraded shares of Retail Opportunity Investments (NASDAQ:ROIC) from a sell rating to a hold rating in a research report released on Monday.

Several other equities research analysts also recently commented on the stock. Raymond James boosted their target price on shares of Retail Opportunity Investments from $15.00 to $16.00 and gave the stock an outperform rating in a research report on Friday, August 16th. Wells Fargo & Company decreased their target price on shares of Retail Opportunity Investments from $14.00 to $13.50 and set an equal weight rating for the company in a research report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $14.38.

Retail Opportunity Investments Stock Up 0.3 %

Shares of NASDAQ ROIC opened at $15.10 on Monday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.07. The firm has a market cap of $1.92 billion, a PE ratio of 50.33, a P/E/G ratio of 2.01 and a beta of 1.45. The company’s fifty day simple moving average is $13.53 and its 200 day simple moving average is $12.94. Retail Opportunity Investments has a 12-month low of $10.98 and a 12-month high of $15.75.

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

Retail Opportunity Investments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Friday, September 20th. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 200.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Centersquare Investment Management LLC boosted its holdings in Retail Opportunity Investments by 6.5% during the first quarter. Centersquare Investment Management LLC now owns 9,319,113 shares of the real estate investment trust’s stock worth $114,346,000 after purchasing an additional 571,370 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Retail Opportunity Investments by 0.8% during the first 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 during the last quarter. Lasalle Investment Management Securities LLC boosted its holdings in Retail Opportunity Investments by 14.8% during the first quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust’s stock worth $46,783,000 after purchasing an additional 469,905 shares during the last quarter. Evoke Wealth LLC purchased a new position in Retail Opportunity Investments during the fourth quarter worth about $2,291,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Retail Opportunity Investments by 12.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,181,551 shares of the real estate investment trust’s stock worth $40,787,000 after purchasing an additional 351,287 shares during the last quarter. 97.16% of the stock is currently owned by hedge funds and other institutional investors.

Retail Opportunity Investments Company Profile

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.