Retail Opportunity Investments (NASDAQ:ROIC) Downgraded by Baird R W to Hold

Baird R W cut shares of Retail Opportunity Investments (NASDAQ:ROIC - Free Report) from a strong-buy rating to a hold rating in a research report report published on Thursday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on ROIC. Bank of America began coverage on Retail Opportunity Investments in a report on Thursday, October 24th. They issued an "underperform" rating and a $14.00 target price on the stock. KeyCorp downgraded Retail Opportunity Investments from an "overweight" rating to a "sector weight" rating in a report on Tuesday. Wells Fargo & Company raised their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an "equal weight" rating in a report on Wednesday, August 28th. Raymond James downgraded Retail Opportunity Investments from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 30th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $17.50 target price (up previously from $16.00) on shares of Retail Opportunity Investments in a report on Thursday. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $16.17.

Retail Opportunity Investments Stock Performance

Shares of NASDAQ ROIC traded up $0.01 during trading hours on Thursday, reaching $17.33. 7,181,846 shares of the stock were exchanged, compared to its average volume of 1,306,351. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 37.67 and a beta of 1.44. 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 has a 52 week low of $11.80 and a 52 week high of $17.40. The stock's fifty day simple moving average is $15.71 and its 200 day simple moving average is $14.07.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $83.50 million for the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The company's quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 EPS. Sell-side analysts predict that Retail Opportunity Investments will post 1.04 EPS for the current year.

Retail Opportunity Investments Announces Dividend

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 3.46%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments's dividend payout ratio (DPR) is 130.43%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position 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 worth $254,040,000 after purchasing an additional 160,068 shares during the last quarter. Centersquare Investment Management LLC raised its position in Retail Opportunity Investments by 6.5% during the 1st quarter. Centersquare Investment Management LLC now owns 9,319,113 shares of the real estate investment trust's stock worth $114,346,000 after purchasing an additional 571,370 shares during the last quarter. Principal Financial Group Inc. raised its position in Retail Opportunity Investments by 1.3% during the 3rd quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust's stock worth $96,072,000 after purchasing an additional 75,803 shares during the last quarter. Federated Hermes Inc. raised its position in Retail Opportunity Investments by 2.9% during the 2nd quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust's stock worth $56,652,000 after purchasing an additional 127,799 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC raised its position in Retail Opportunity Investments by 14.8% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust's stock worth $46,783,000 after purchasing an additional 469,905 shares during the last quarter. 97.16% of the stock is owned by institutional investors.

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.