Phocas Financial Corp. Decreases Stock Holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Phocas Financial Corp. trimmed its stake in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC - Free Report) by 8.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 474,003 shares of the real estate investment trust's stock after selling 45,452 shares during the quarter. Phocas Financial Corp. owned about 0.37% of Retail Opportunity Investments worth $7,456,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sei Investments Co. boosted its holdings in Retail Opportunity Investments by 15.1% in the 1st quarter. Sei Investments Co. now owns 120,437 shares of the real estate investment trust's stock valued at $1,544,000 after purchasing an additional 15,797 shares during the period. Russell Investments Group Ltd. boosted its holdings in Retail Opportunity Investments by 164.7% in the 1st quarter. Russell Investments Group Ltd. now owns 17,343 shares of the real estate investment trust's stock valued at $222,000 after purchasing an additional 10,790 shares during the period. ProShare Advisors LLC boosted its holdings in Retail Opportunity Investments by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 24,888 shares of the real estate investment trust's stock valued at $319,000 after purchasing an additional 1,705 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in Retail Opportunity Investments by 30.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 45,895 shares of the real estate investment trust's stock valued at $641,000 after purchasing an additional 10,741 shares during the period. Finally, Vanguard Group Inc. boosted 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 valued at $254,040,000 after purchasing an additional 160,068 shares during the period. Institutional investors and hedge funds own 97.16% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented 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. Wells Fargo & Company upped 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. BMO Capital Markets upped their price objective on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the company a "market perform" rating in a research note on Friday, November 8th. Robert W. Baird reiterated a "neutral" rating and issued a $17.50 price target (up previously from $16.00) on shares of Retail Opportunity Investments in a report on Thursday, November 7th. Finally, Baird R W lowered shares of Retail Opportunity Investments from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $16.17.

Retail Opportunity Investments Stock Performance

Shares of NASDAQ ROIC traded down $0.02 during mid-day trading on Tuesday, hitting $17.35. The company had a trading volume of 1,773,053 shares, compared to its average volume of 1,332,653. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 37.76 and a beta of 1.44. Retail Opportunity Investments Corp. has a 1 year low of $11.87 and a 1 year high of $17.40. The stock's 50-day moving average price is $15.97 and its 200-day moving average price is $14.31.

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). The company had revenue of $83.50 million during the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. Retail Opportunity Investments's quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 EPS. On average, sell-side analysts forecast that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Friday, December 20th. Retail Opportunity Investments's payout ratio is presently 130.43%.

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.