Fmr LLC Sells 45,240 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

FMR LLC trimmed its stake in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC - Free Report) by 32.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,670 shares of the real estate investment trust's stock after selling 45,240 shares during the quarter. FMR LLC owned approximately 0.07% of Retail Opportunity Investments worth $1,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Principal Financial Group Inc. raised its stake in shares of Retail Opportunity Investments by 1.3% during the third quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust's stock valued at $96,072,000 after acquiring an additional 75,803 shares during the last quarter. Federated Hermes Inc. raised its position in Retail Opportunity Investments by 2.9% during the 2nd quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust's stock valued at $56,652,000 after purchasing an additional 127,799 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Retail Opportunity Investments by 3.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,300,317 shares of the real estate investment trust's stock worth $41,023,000 after buying an additional 118,766 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Retail Opportunity Investments by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,347,118 shares of the real estate investment trust's stock worth $36,920,000 after buying an additional 85,037 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Retail Opportunity Investments by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,834,124 shares of the real estate investment trust's stock valued at $22,798,000 after buying an additional 39,980 shares during the period. 97.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ROIC shares. Bank of America started coverage on Retail Opportunity Investments in a research note on Thursday, October 24th. They issued an "underperform" rating and a $14.00 price target for the company. KeyCorp cut shares of Retail Opportunity Investments from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, November 5th. Wells Fargo & Company boosted their price target on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 28th. Raymond James downgraded shares of Retail Opportunity Investments from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 30th. Finally, Baird R W cut Retail Opportunity Investments from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $16.17.

Retail Opportunity Investments Stock Up 0.2 %

NASDAQ ROIC traded up $0.03 during trading hours on Monday, reaching $17.47. 631,787 shares of the company's stock traded hands, compared to its average volume of 1,307,043. The firm has a market cap of $2.25 billion, a PE ratio of 37.91 and a beta of 1.47. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. Retail Opportunity Investments Corp. has a 52-week low of $11.87 and a 52-week high of $17.52. The firm has a 50-day simple moving average of $16.69 and a 200 day simple moving average of $15.02.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last issued 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 prior year, the firm earned $0.27 earnings per share. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. Sell-side analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, December 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.43%. Retail Opportunity Investments's payout ratio is presently 130.43%.

Retail Opportunity Investments 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.