Franklin Resources Inc. Sells 73,864 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Franklin Resources Inc. lessened its stake in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC - Free Report) by 55.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,257 shares of the real estate investment trust's stock after selling 73,864 shares during the quarter. Franklin Resources Inc.'s holdings in Retail Opportunity Investments were worth $945,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its position in 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 buying an additional 1,753 shares during the period. Allworth Financial LP boosted its holdings in shares of Retail Opportunity Investments by 4,320.3% during the third quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust's stock worth $51,000 after purchasing an additional 3,197 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Retail Opportunity Investments by 35.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust's stock worth $77,000 after purchasing an additional 1,289 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Retail Opportunity Investments in the second quarter worth about $82,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in Retail Opportunity Investments by 78.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,122 shares of the real estate investment trust's stock valued at $112,000 after purchasing an additional 3,124 shares during the period. Institutional investors own 97.16% of the company's stock.

Retail Opportunity Investments Price Performance

NASDAQ:ROIC remained flat at $17.35 during mid-day trading on Friday. 996,992 shares of the company traded hands, compared to its average volume of 1,310,625. The stock has a market cap of $2.23 billion, a P/E ratio of 37.72 and a beta of 1.47. 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 1-year low of $11.87 and a 1-year high of $17.52. The company has a 50 day moving average price of $17.01 and a two-hundred day moving average price of $15.34.

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. On average, equities analysts forecast that Retail Opportunity Investments Corp. will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

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 of this dividend is Friday, December 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.46%. Retail Opportunity Investments's payout ratio is presently 130.43%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ROIC shares. BMO Capital Markets lifted their price objective on 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. Bank of America assumed coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They set an "underperform" rating and a $14.00 price objective on the stock. Raymond James cut shares of Retail Opportunity Investments from an "outperform" rating to a "market perform" rating in a research report on Wednesday, October 30th. Baird R W lowered shares of Retail Opportunity Investments from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. Finally, StockNews.com started coverage on shares of Retail Opportunity Investments in a research note on Saturday. They issued a "hold" rating for the company. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $16.17.

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.