Allspring Global Investments Holdings LLC reduced its holdings in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC - Free Report) by 99.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,728 shares of the real estate investment trust's stock after selling 200,312 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Retail Opportunity Investments were worth $27,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Meeder Asset Management Inc. bought a new stake in shares of Retail Opportunity Investments in the second quarter valued at $82,000. Point72 DIFC Ltd raised its stake in shares of Retail Opportunity Investments by 71.8% in the second quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust's stock valued at $94,000 after buying an additional 3,145 shares during the period. EntryPoint Capital LLC raised its stake in shares of Retail Opportunity Investments by 155.8% in the first quarter. EntryPoint Capital LLC now owns 8,717 shares of the real estate investment trust's stock valued at $112,000 after buying an additional 5,309 shares during the period. Headlands Technologies LLC bought a new stake in shares of Retail Opportunity Investments in the second quarter valued at $114,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Retail Opportunity Investments in the first quarter valued at $128,000. 97.16% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
ROIC has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on 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. Raymond James lowered Retail Opportunity Investments from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 30th. Bank of America initiated coverage on Retail Opportunity Investments in a research note on Thursday, October 24th. They set an "underperform" rating and a $14.00 price objective on the stock. KeyCorp lowered Retail Opportunity Investments from an "overweight" rating to a "sector weight" rating in a research note on Tuesday. Finally, StockNews.com upgraded 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 four have given a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $15.50.
Check Out Our Latest Stock Report on Retail Opportunity Investments
Retail Opportunity Investments Price Performance
NASDAQ ROIC traded up $0.76 during trading on Wednesday, reaching $17.35. The company's stock had a trading volume of 34,675,536 shares, compared to its average volume of 662,123. The stock has a market capitalization of $2.23 billion, a PE ratio of 37.72 and a beta of 1.44. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a fifty day moving average of $15.67 and a 200 day moving average of $14.05. Retail Opportunity Investments Corp. has a one year low of $11.80 and a one year high of $17.40.
Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) 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 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%. Retail Opportunity Investments's revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 earnings per share. Analysts expect that Retail Opportunity Investments Corp. will post 1.04 EPS for the current fiscal year.
Retail Opportunity Investments Announces Dividend
The firm 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. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a yield of 3.46%. Retail Opportunity Investments's dividend payout ratio is currently 130.43%.
About Retail Opportunity Investments
(
Free Report)
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.
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