Citigroup Inc. Acquires 101,275 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Citigroup Inc. grew its holdings in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC - Free Report) by 73.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 238,315 shares of the real estate investment trust's stock after buying an additional 101,275 shares during the period. Citigroup Inc. owned 0.19% of Retail Opportunity Investments worth $3,749,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its position in shares of Retail Opportunity Investments by 1,473.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 1,753 shares during the period. Allworth Financial LP raised its position in 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 acquiring an additional 3,197 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 purchasing an additional 1,289 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Retail Opportunity Investments in the 2nd quarter worth approximately $82,000. Finally, Point72 DIFC Ltd raised 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 purchasing an additional 3,145 shares in the last quarter. 97.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on ROIC shares. StockNews.com began coverage on Retail Opportunity Investments in a report on Wednesday. They issued a "hold" rating on the stock. Baird R W downgraded shares of Retail Opportunity Investments from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. Robert W. Baird reiterated a "neutral" rating and set a $17.50 target price (up from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. BMO Capital Markets raised their price target on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a "market perform" rating in a research report on Friday, November 8th. Finally, KeyCorp downgraded Retail Opportunity Investments from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $16.17.

Retail Opportunity Investments Price Performance

Shares of NASDAQ:ROIC traded up $0.02 on Thursday, hitting $17.45. The stock had a trading volume of 458,042 shares, compared to its average volume of 1,315,024. The firm's 50 day moving average price is $16.43 and its 200-day moving average price is $14.74. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92. Retail Opportunity Investments Corp. has a twelve month low of $11.87 and a twelve month high of $17.52. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 37.89 and a beta of 1.47.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last posted its quarterly earnings data 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 analyst estimates 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 for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 EPS. On average, equities research analysts predict that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors 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 annualized dividend and a yield of 3.44%. Retail Opportunity Investments's dividend payout ratio 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.