Retail Opportunity Investments (NASDAQ:ROIC) Reaches New 1-Year High - Time to Buy?

Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $16.94 and last traded at $16.94, with a volume of 12373 shares changing hands. The stock had previously closed at $15.59.

Analysts Set New Price Targets

Several research analysts have weighed in on ROIC shares. StockNews.com raised shares of Retail Opportunity Investments from a "sell" rating to a "hold" rating in a research note on Monday, August 19th. Raymond James cut Retail Opportunity Investments from an "outperform" rating to a "market perform" rating in a research report on Wednesday, October 30th. Bank of America started coverage on Retail Opportunity Investments in a research report on Thursday, October 24th. They set an "underperform" rating and a $14.00 price objective for the company. Finally, Wells Fargo & Company increased their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $15.50.

Retail Opportunity Investments Price Performance

The company has a market cap of $2.16 billion, a price-to-earnings ratio of 36.26 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 company's 50-day simple moving average is $15.60 and its 200-day simple moving average is $13.96.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last released its 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 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 prior year, the business earned $0.27 EPS. The company's quarterly revenue was up 2.5% on a year-over-year basis. On average, equities research analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 EPS for the current year.

Retail Opportunity Investments Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Friday, December 20th. Retail Opportunity Investments's dividend payout ratio (DPR) is presently 130.43%.

Institutional Investors Weigh In On Retail Opportunity Investments

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Diversified Trust Co purchased a new stake in shares of Retail Opportunity Investments during the 1st quarter worth about $152,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Retail Opportunity Investments by 12.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,181,551 shares of the real estate investment trust's stock valued at $40,787,000 after buying an additional 351,287 shares during the last quarter. First Trust Direct Indexing L.P. bought a new position in Retail Opportunity Investments during the first quarter valued at about $129,000. BNP Paribas Financial Markets raised its holdings in Retail Opportunity Investments by 65.4% in the 1st quarter. BNP Paribas Financial Markets now owns 80,788 shares of the real estate investment trust's stock valued at $1,036,000 after acquiring an additional 31,958 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Retail Opportunity Investments by 6.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 40,967 shares of the real estate investment trust's stock worth $525,000 after acquiring an additional 2,595 shares during the period. 97.16% of the stock is owned by institutional investors and hedge funds.

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.