Verition Fund Management LLC Cuts Stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Verition Fund Management LLC lessened its holdings in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC - Free Report) by 52.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 266,505 shares of the real estate investment trust's stock after selling 294,039 shares during the period. Verition Fund Management LLC owned 0.21% of Retail Opportunity Investments worth $4,192,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ROIC. Arizona State Retirement System boosted its holdings in Retail Opportunity Investments by 2.7% in the second quarter. Arizona State Retirement System now owns 35,555 shares of the real estate investment trust's stock worth $442,000 after acquiring an additional 927 shares in the last quarter. Creative Planning grew its position in Retail Opportunity Investments by 6.7% during the 3rd quarter. Creative Planning now owns 18,988 shares of the real estate investment trust's stock valued at $299,000 after purchasing an additional 1,194 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Retail Opportunity Investments by 35.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust's stock worth $77,000 after buying an additional 1,289 shares during the last quarter. Van ECK Associates Corp raised its holdings in Retail Opportunity Investments by 7.4% in the second quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust's stock worth $236,000 after buying an additional 1,307 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of Retail Opportunity Investments by 2.7% during the second quarter. Louisiana State Employees Retirement System now owns 64,100 shares of the real estate investment trust's stock valued at $797,000 after buying an additional 1,700 shares during the last quarter. 97.16% of the stock is owned by hedge funds and other institutional investors.

Retail Opportunity Investments Stock Performance

NASDAQ ROIC traded up $0.02 during trading hours on Wednesday, hitting $17.43. 985,143 shares of the company's stock traded hands, compared to its average volume of 1,318,687. Retail Opportunity Investments Corp. has a 52 week low of $11.87 and a 52 week high of $17.49. The firm has a market capitalization of $2.24 billion, a P/E ratio of 37.85 and a beta of 1.47. 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 business's fifty day moving average price is $16.39 and its two-hundred day moving average price is $14.72.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) 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 company's revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 EPS. Equities research analysts predict that Retail Opportunity Investments Corp. will post 1.04 EPS for the current year.

Retail Opportunity Investments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.44%. Retail Opportunity Investments's dividend payout ratio (DPR) is presently 130.43%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ROIC shares. StockNews.com started coverage on shares of Retail Opportunity Investments in a report on Wednesday. They issued a "hold" rating for the company. 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 report on Friday, November 8th. Raymond James lowered Retail Opportunity Investments from an "outperform" rating to a "market perform" rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 28th. Finally, Robert W. Baird reissued a "neutral" rating and set a $17.50 price objective (up from $16.00) on shares of Retail Opportunity Investments in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, the stock 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.