JPMorgan Chase & Co. Decreases Stock Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

JPMorgan Chase & Co. decreased its position in Retail Opportunity Investments Corp. (NASDAQ:ROIC - Free Report) by 10.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,039,037 shares of the real estate investment trust's stock after selling 247,445 shares during the quarter. JPMorgan Chase & Co. owned 1.58% of Retail Opportunity Investments worth $32,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC raised its stake in Retail Opportunity Investments by 1,473.1% during the third 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 in the last quarter. Principal Financial Group Inc. raised its position in shares of Retail Opportunity Investments by 1.3% during the 3rd 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 buying an additional 75,803 shares in the last quarter. Federated Hermes Inc. raised its position in shares of 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 buying an additional 127,799 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Retail Opportunity Investments by 73.9% in the 3rd quarter. Citigroup Inc. now owns 238,315 shares of the real estate investment trust's stock valued at $3,749,000 after acquiring an additional 101,275 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Retail Opportunity Investments by 3.8% in the third 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 acquiring an additional 85,037 shares in the last quarter. 97.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. KeyCorp cut shares of Retail Opportunity Investments from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, November 5th. Raymond James downgraded shares of Retail Opportunity Investments from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 30th. BMO Capital Markets raised 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 research note on Friday, November 8th. StockNews.com assumed coverage on Retail Opportunity Investments in a research note on Sunday. They set a "hold" rating on the stock. Finally, Bank of America started coverage on Retail Opportunity Investments in a research note on Thursday, October 24th. They set an "underperform" rating and a $14.00 price target for the company. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to data from MarketBeat.com, Retail Opportunity Investments currently has a consensus rating of "Hold" and an average target price of $16.20.

Retail Opportunity Investments Trading Down 0.2 %

NASDAQ:ROIC traded down $0.03 during midday trading on Tuesday, hitting $17.39. The stock had a trading volume of 894,950 shares, compared to its average volume of 940,438. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04. The stock has a 50-day moving average of $17.25 and a 200 day moving average of $15.61. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 37.80 and a beta of 1.46. Retail Opportunity Investments Corp. has a one year low of $11.87 and a one year high of $17.52.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (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 firm had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. During the same period in the previous year, the company posted $0.27 EPS. Retail Opportunity Investments's quarterly revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Retail Opportunity Investments Corp. will post 1.04 EPS for the current year.

Retail Opportunity Investments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments's payout ratio is 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.