StockNews.com Initiates Coverage on Retail Opportunity Investments (NASDAQ:ROIC)

StockNews.com started coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research report report published on Friday morning. The firm issued a hold rating on the real estate investment trust’s stock.

A number of other research firms have also commented on ROIC. Bank of America assumed coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They set an “underperform” rating and a $14.00 price target for the company. Robert W. Baird restated a “neutral” rating and set a $17.50 target price (up from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday, November 7th. BMO Capital Markets lifted their price target on Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research report on Friday, November 8th. KeyCorp cut shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Finally, Raymond James lowered shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $16.17.

Retail Opportunity Investments Stock Performance

Shares of ROIC stock opened at $17.31 on Friday. The firm’s 50 day moving average is $16.88 and its 200 day moving average is $15.19. The stock has a market capitalization of $2.23 billion, a P/E ratio of 37.63 and a beta of 1.47. Retail Opportunity Investments has a 12 month low of $11.87 and a 12 month high of $17.52. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The company had revenue of $83.50 million during the quarter, compared to the consensus estimate of $82.13 million. During the same period in the previous year, the business earned $0.27 earnings per share. Retail Opportunity Investments’s revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts anticipate that Retail Opportunity Investments will post 1.04 earnings per share for the current 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 paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.47%. The ex-dividend date is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio is currently 130.43%.

Hedge Funds Weigh In On Retail Opportunity Investments

Institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC increased its stake 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 worth $29,000 after purchasing an additional 1,753 shares during the period. Allworth Financial LP increased its stake in shares of Retail Opportunity Investments by 4,320.3% in the third quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 3,197 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Retail Opportunity Investments by 35.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock valued at $77,000 after buying an additional 1,289 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Retail Opportunity Investments during the 2nd quarter valued at $82,000. Finally, Point72 DIFC Ltd grew its holdings in Retail Opportunity Investments by 71.8% in the 2nd quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 3,145 shares during the last quarter. Institutional investors own 97.16% of the company’s stock.

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.