Retail Opportunity Investments Corp. (NASDAQ:ROIC) Holdings Decreased by State Street Corp

State Street Corp lessened its holdings in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC - Free Report) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,307,812 shares of the real estate investment trust's stock after selling 99,472 shares during the quarter. State Street Corp owned approximately 5.68% of Retail Opportunity Investments worth $116,056,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ROIC. International Assets Investment Management LLC grew its stake in shares of Retail Opportunity Investments by 1,473.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 1,753 shares during the period. Allworth Financial LP lifted its stake in shares of Retail Opportunity Investments by 4,320.3% in the 3rd quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust's stock valued at $51,000 after purchasing an additional 3,197 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Retail Opportunity Investments by 35.2% during 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 purchasing an additional 1,289 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Retail Opportunity Investments during the 2nd quarter worth about $82,000. Finally, Point72 DIFC Ltd lifted its position in Retail Opportunity Investments by 71.8% in the second quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust's stock valued at $94,000 after buying an additional 3,145 shares during the last quarter. Institutional investors and hedge funds own 97.16% of the company's stock.

Retail Opportunity Investments Price Performance

Shares of ROIC stock traded up $0.03 during midday trading on Monday, reaching $17.47. 631,787 shares of the company traded hands, compared to its average volume of 1,307,043. The firm's 50 day simple moving average is $16.73 and its two-hundred day simple moving average is $15.05. The firm has a market cap of $2.25 billion, a PE ratio of 37.98 and a beta of 1.47. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. Retail Opportunity Investments Corp. has a 1-year low of $11.87 and a 1-year high of $17.52.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $83.50 million during the quarter, compared to analysts' expectations of $82.13 million. During the same period last year, the company earned $0.27 EPS. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts expect that Retail Opportunity Investments Corp. will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be given 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 yield of 3.43%. Retail Opportunity Investments's payout ratio is currently 130.43%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ROIC shares. StockNews.com assumed coverage on Retail Opportunity Investments in a research report on Thursday. They issued a "hold" rating on the stock. Wells Fargo & Company raised 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. 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. Raymond James lowered Retail Opportunity Investments from an "outperform" rating to a "market perform" rating in a research report on Wednesday, October 30th. Finally, KeyCorp downgraded shares of Retail Opportunity Investments from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, Retail Opportunity Investments presently has a consensus rating of "Hold" and an average price target 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.