Retail Opportunity Investments (NASDAQ:ROIC) Cut to "Market Perform" at Raymond James

Raymond James lowered shares of Retail Opportunity Investments (NASDAQ:ROIC - Free Report) from an outperform rating to a market perform rating in a research note published on Wednesday morning, MarketBeat.com reports.

ROIC has been the topic of several other reports. Wells Fargo & Company raised 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. StockNews.com raised Retail Opportunity Investments from a "sell" rating to a "hold" rating in a research note on Monday, August 19th. Finally, Bank of America assumed coverage on shares of 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Retail Opportunity Investments currently has an average rating of "Hold" and a consensus price target of $15.50.

Retail Opportunity Investments Trading Up 0.3 %

ROIC stock traded up $0.04 during trading on Wednesday, hitting $15.55. 640,431 shares of the company traded hands, compared to its average volume of 1,072,833. The company has a 50-day moving average of $15.58 and a 200-day moving average of $13.89. 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 has a 1 year low of $11.24 and a 1 year high of $16.27. The firm has a market capitalization of $2.00 billion, a PE ratio of 33.72 and a beta of 1.45.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). The company had revenue of $83.50 million for the quarter, compared to analysts' expectations of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.27 EPS. Analysts predict that Retail Opportunity Investments will post 1.04 earnings per share 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 is Friday, December 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.86%. Retail Opportunity Investments's payout ratio is presently 130.43%.

Institutional Trading of Retail Opportunity Investments

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Retail Opportunity Investments by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust's stock worth $254,040,000 after acquiring an additional 160,068 shares during the last quarter. Centersquare Investment Management LLC increased its holdings in Retail Opportunity Investments by 6.5% in the 1st quarter. Centersquare Investment Management LLC now owns 9,319,113 shares of the real estate investment trust's stock worth $114,346,000 after buying an additional 571,370 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Retail Opportunity Investments by 20.4% during the 2nd quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust's stock valued at $74,975,000 after acquiring an additional 1,020,314 shares during the period. Federated Hermes Inc. grew its stake in shares of Retail Opportunity Investments by 2.9% in the second quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust's stock worth $56,652,000 after acquiring an additional 127,799 shares during the period. Finally, Lasalle Investment Management Securities LLC raised its holdings in shares of Retail Opportunity Investments by 14.8% during the first quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust's stock valued at $46,783,000 after purchasing an additional 469,905 shares during the last quarter. 97.16% of the stock is owned by hedge funds and other institutional investors.

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.