Retail Opportunity Investments (NASDAQ:ROIC) Now Covered by StockNews.com

StockNews.com started coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC - Free Report) in a research note released on Thursday morning. The brokerage issued a hold rating on the real estate investment trust's stock.

Other research analysts have also issued reports about the stock. Bank of America assumed coverage on shares of Retail Opportunity Investments in a report on Thursday, October 24th. They issued an "underperform" rating and a $14.00 price target for the company. BMO Capital Markets raised their price target on Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a "market perform" rating in a report on Friday, November 8th. Wells Fargo & Company raised their price target 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. KeyCorp cut Retail Opportunity Investments from an "overweight" rating to a "sector weight" rating in a report on Tuesday, November 5th. Finally, Baird R W downgraded shares of Retail Opportunity Investments from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $16.17.

Retail Opportunity Investments Stock Down 0.1 %

ROIC stock traded down $0.01 during midday trading on Thursday, hitting $17.44. 823,986 shares of the company's stock were exchanged, compared to its average volume of 1,310,609. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 37.91 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 firm has a 50 day moving average price of $16.65 and a 200-day moving average price of $14.94. Retail Opportunity Investments has a 12-month low of $11.87 and a 12-month high of $17.52.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate 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%. Retail Opportunity Investments's revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 earnings per share. On average, analysts anticipate that Retail Opportunity Investments will post 1.04 EPS for the current year.

Retail Opportunity Investments Announces Dividend

The business also recently declared 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 3.44%. The ex-dividend date is Friday, December 20th. Retail Opportunity Investments's dividend payout ratio is currently 130.43%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ROIC. Principal Financial Group Inc. raised its position in shares of Retail Opportunity Investments by 1.3% in the third quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust's stock valued at $96,072,000 after purchasing an additional 75,803 shares during the period. Federated Hermes Inc. lifted 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 acquiring an additional 127,799 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Retail Opportunity Investments by 3.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,300,317 shares of the real estate investment trust's stock valued at $41,023,000 after acquiring an additional 118,766 shares during the period. Geode Capital Management LLC increased its stake in Retail Opportunity Investments by 0.7% during the third quarter. Geode Capital Management LLC now owns 3,290,973 shares of the real estate investment trust's stock valued at $51,776,000 after acquiring an additional 24,421 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Retail Opportunity Investments by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,347,118 shares of the real estate investment trust's stock valued at $36,920,000 after acquiring an additional 85,037 shares in the last quarter. 97.16% of the stock is owned by institutional investors and hedge funds.

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.