Easterly Investment Partners LLC Invests $4.56 Million in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Easterly Investment Partners LLC purchased a new position in Retail Opportunity Investments Corp. (NASDAQ:ROIC - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 289,654 shares of the real estate investment trust's stock, valued at approximately $4,556,000. Easterly Investment Partners LLC owned about 0.23% of Retail Opportunity Investments as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the business. International Assets Investment Management LLC increased its holdings in shares of 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 acquiring an additional 1,753 shares during the period. Allworth Financial LP increased its holdings in shares of Retail Opportunity Investments by 4,320.3% in the 3rd quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust's stock worth $51,000 after acquiring an additional 3,197 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Retail Opportunity Investments by 35.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust's stock worth $77,000 after acquiring an additional 1,289 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Retail Opportunity Investments in the 2nd quarter worth about $82,000. Finally, Point72 DIFC Ltd increased its holdings in shares of 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 period. 97.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on ROIC. BMO Capital Markets increased their price objective on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a "market perform" rating in a report on Friday. Wells Fargo & Company raised their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 28th. Bank of America began coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They set an "underperform" rating and a $14.00 target price on the stock. KeyCorp cut shares of Retail Opportunity Investments from an "overweight" rating to a "sector weight" rating in a research note on Tuesday. Finally, StockNews.com raised shares of Retail Opportunity Investments from a "sell" rating to a "hold" rating in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $16.17.

Retail Opportunity Investments Price Performance

Shares of NASDAQ ROIC traded up $0.01 during midday trading on Friday, reaching $17.33. The company's stock had a trading volume of 7,181,846 shares, compared to its average volume of 1,306,351. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average price of $15.71 and a 200 day moving average price of $14.07. Retail Opportunity Investments Corp. has a one year low of $11.80 and a one year high of $17.40. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 37.67 and a beta of 1.44.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last released its 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). The business had revenue of $83.50 million during the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share. On average, equities research analysts expect that Retail Opportunity Investments Corp. will post 1.04 EPS for the current year.

Retail Opportunity Investments Dividend Announcement

The company also recently announced 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. This represents a $0.60 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Friday, December 20th. Retail Opportunity Investments's dividend payout ratio (DPR) is currently 130.43%.

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.