Retail Opportunity Investments (NASDAQ:ROIC) Coverage Initiated at Bank of America

Bank of America initiated coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research note released on Thursday morning, StockNewsAPI reports. The firm issued an underperform rating and a $14.00 price objective on the real estate investment trust’s stock.

A number of other analysts also recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Raymond James boosted their target price on Retail Opportunity Investments from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Retail Opportunity Investments has a consensus rating of “Hold” and an average target price of $15.50.

Retail Opportunity Investments Stock Down 0.3 %

Shares of NASDAQ:ROIC traded down $0.04 during midday trading on Thursday, hitting $15.82. 50,682 shares of the company’s stock were exchanged, compared to its average volume of 1,079,464. Retail Opportunity Investments has a 12 month low of $10.98 and a 12 month high of $16.27. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a 50 day moving average price of $15.55 and a 200-day moving average price of $13.81. The company has a market cap of $2.02 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 2.08 and a beta of 1.45.

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 for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The business had revenue of $83.50 million during the quarter, compared to analysts’ expectations of $82.13 million. Retail Opportunity Investments had a return on equity of 4.33% and a net margin of 17.38%. Retail Opportunity Investments’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 EPS. On average, sell-side analysts anticipate that Retail Opportunity Investments will post 1.05 EPS for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.79%. Retail Opportunity Investments’s dividend payout ratio (DPR) is currently 130.43%.

Institutional Trading of Retail Opportunity Investments

A number of hedge funds and other institutional investors have recently bought and sold shares of ROIC. Principal Financial Group Inc. boosted its holdings in Retail Opportunity Investments by 20.4% in the 2nd quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock valued at $74,975,000 after purchasing an additional 1,020,314 shares during the period. Easterly Investment Partners LLC bought a new stake in Retail Opportunity Investments during the first quarter valued at $7,764,000. Centersquare Investment Management LLC grew its position 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 buying an additional 571,370 shares in the last quarter. Lasalle Investment Management Securities LLC increased its stake 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 worth $46,783,000 after acquiring an additional 469,905 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Retail Opportunity Investments by 12.4% in 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. Institutional investors 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.