Principal Financial Group Inc. Has $96.07 Million Holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Principal Financial Group Inc. increased its position in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC - Free Report) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,107,593 shares of the real estate investment trust's stock after purchasing an additional 75,803 shares during the quarter. Principal Financial Group Inc. owned 4.75% of Retail Opportunity Investments worth $96,072,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of 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 worth $29,000 after purchasing an additional 1,753 shares during the period. Federated Hermes Inc. raised its stake in shares of Retail Opportunity Investments by 2.9% during the second quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust's stock valued at $56,652,000 after purchasing an additional 127,799 shares in the last quarter. Citigroup Inc. raised its position in shares of Retail Opportunity Investments by 73.9% during the 3rd quarter. Citigroup Inc. now owns 238,315 shares of the real estate investment trust's stock worth $3,749,000 after buying an additional 101,275 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 purchasing an additional 85,037 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Retail Opportunity Investments by 296.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 952,252 shares of the real estate investment trust's stock valued at $14,979,000 after purchasing an additional 711,835 shares in the last quarter. Institutional investors and hedge funds own 97.16% of the company's stock.

Retail Opportunity Investments Stock Down 0.5 %

Shares of NASDAQ:ROIC traded down $0.09 during midday trading on Friday, hitting $17.31. 3,799,250 shares of the stock were exchanged, compared to its average volume of 1,322,984. 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 52-week low of $11.87 and a 52-week high of $17.52. The business's fifty day simple moving average is $16.88 and its two-hundred day simple moving average is $15.15. The company has a market capitalization of $2.23 billion, a PE ratio of 37.63 and a beta of 1.47.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last released its quarterly earnings results 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 business had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 EPS. As a group, research analysts predict that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The company 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 dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments's dividend payout ratio is currently 130.43%.

Wall Street Analysts Forecast Growth

ROIC has been the subject of several research reports. Robert W. Baird restated a "neutral" rating and set a $17.50 price objective (up previously from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday, November 7th. Bank of America initiated 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 objective for the company. Wells Fargo & Company lifted their price objective on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 28th. Raymond James cut Retail Opportunity Investments from an "outperform" rating to a "market perform" rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets upped their price target on Retail Opportunity Investments from $17.00 to $17.50 and gave the company a "market perform" rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $16.17.

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.