Quest Partners LLC Decreases Stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Quest Partners LLC trimmed its position in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC - Free Report) by 80.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,875 shares of the real estate investment trust's stock after selling 164,531 shares during the period. Quest Partners LLC's holdings in Retail Opportunity Investments were worth $612,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings in Retail Opportunity Investments by 2.7% during the 2nd quarter. Arizona State Retirement System now owns 35,555 shares of the real estate investment trust's stock valued at $442,000 after purchasing an additional 927 shares during the last quarter. Creative Planning grew its stake in Retail Opportunity Investments by 6.7% in the 3rd quarter. Creative Planning now owns 18,988 shares of the real estate investment trust's stock worth $299,000 after acquiring an additional 1,194 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Retail Opportunity Investments by 35.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust's stock worth $77,000 after acquiring an additional 1,289 shares in the last quarter. Van ECK Associates Corp grew its stake in Retail Opportunity Investments by 7.4% in the 2nd quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust's stock worth $236,000 after acquiring an additional 1,307 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in Retail Opportunity Investments by 2.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 64,100 shares of the real estate investment trust's stock worth $797,000 after acquiring an additional 1,700 shares in the last quarter. 97.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Raymond James downgraded shares of Retail Opportunity Investments from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 30th. Bank of America started coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They issued an "underperform" rating and a $14.00 target price on the stock. StockNews.com started coverage on shares of Retail Opportunity Investments in a research note on Monday, November 18th. They set a "hold" rating on the stock. KeyCorp downgraded shares of Retail Opportunity Investments from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, November 5th. Finally, BMO Capital Markets increased 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. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $16.17.

Retail Opportunity Investments Stock Down 0.1 %

NASDAQ:ROIC traded down $0.01 during midday trading on Friday, reaching $17.37. 1,020,500 shares of the stock traded hands, compared to its average volume of 3,863,557. Retail Opportunity Investments Corp. has a 12-month low of $11.87 and a 12-month high of $17.42. The business has a 50-day moving average of $16.17 and a two-hundred day moving average of $14.45. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market capitalization of $2.23 billion, a PE ratio of 37.76 and a beta of 1.44.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last posted 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 net margin of 17.38% and a return on equity of 4.32%. The firm had revenue of $83.50 million for the quarter, compared to analysts' expectations of $82.13 million. During the same period in the previous year, the company earned $0.27 EPS. The company's revenue was up 2.5% on a year-over-year basis. On average, equities analysts forecast that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Announces Dividend

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