Wolverine Asset Management LLC Decreases Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Wolverine Asset Management LLC reduced its holdings in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC - Free Report) by 53.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 96,873 shares of the real estate investment trust's stock after selling 109,345 shares during the quarter. Wolverine Asset Management LLC owned 0.08% of Retail Opportunity Investments worth $1,524,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in Retail Opportunity Investments by 20.4% in the 2nd quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust's stock worth $74,975,000 after purchasing an additional 1,020,314 shares during the period. Centersquare Investment Management LLC increased its stake in Retail Opportunity Investments by 6.5% in the first quarter. Centersquare Investment Management LLC now owns 9,319,113 shares of the real estate investment trust's stock valued at $114,346,000 after purchasing an additional 571,370 shares during the period. Lasalle Investment Management Securities LLC lifted its holdings in shares of Retail Opportunity Investments by 14.8% in the first quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust's stock valued at $46,783,000 after purchasing an additional 469,905 shares in the last quarter. Easterly Investment Partners LLC acquired a new stake in shares of Retail Opportunity Investments in the third quarter worth $4,556,000. Finally, Vanguard Group Inc. boosted its stake in Retail Opportunity Investments by 0.8% during 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 acquiring an additional 160,068 shares during the last quarter. Institutional investors and hedge funds own 97.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ROIC shares. Robert W. Baird reissued a "neutral" rating and issued a $17.50 price objective (up from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. KeyCorp lowered Retail Opportunity Investments from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, November 5th. Bank of America initiated coverage on Retail Opportunity Investments in a report on Thursday, October 24th. They set an "underperform" rating and a $14.00 price objective for the company. BMO Capital Markets increased their target price on Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a "market perform" rating in a research report on Friday. Finally, StockNews.com raised Retail Opportunity Investments from a "sell" rating to a "hold" rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, Retail Opportunity Investments currently has a consensus rating of "Hold" and an average target price of $16.17.

Retail Opportunity Investments Price Performance

Shares of ROIC remained flat at $17.34 during trading hours on Tuesday. The stock had a trading volume of 2,603,195 shares, compared to its average volume of 1,321,647. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 37.70 and a beta of 1.44. 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 firm has a fifty day moving average of $15.79 and a 200 day moving average of $14.17. Retail Opportunity Investments Corp. has a one year low of $11.80 and a one year high of $17.40.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last posted 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). 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 the consensus estimate of $82.13 million. During the same quarter last year, the company posted $0.27 EPS. The firm's revenue was up 2.5% on a year-over-year basis. As a group, analysts forecast 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 dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments's dividend payout ratio (DPR) is 130.43%.

Retail Opportunity Investments 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.