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

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

Other equities analysts also recently issued reports about the company. Baird R W downgraded Retail Opportunity Investments from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. Bank of America began coverage on shares of Retail Opportunity Investments in a report on Thursday, October 24th. They set an "underperform" rating and a $14.00 price objective on the stock. KeyCorp lowered shares of Retail Opportunity Investments from an "overweight" rating to a "sector weight" rating in a report on Tuesday, November 5th. BMO Capital Markets boosted their price objective on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the company a "market perform" rating in a report on Friday, November 8th. 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 equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $16.17.

Retail Opportunity Investments Stock Up 0.1 %

Shares of ROIC stock traded up $0.01 during trading hours on Tuesday, reaching $17.41. 1,360,147 shares of the company's stock were exchanged, compared to its average volume of 1,327,729. The stock's 50 day moving average is $16.20 and its 200-day moving average is $14.52. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 37.85 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. Retail Opportunity Investments has a fifty-two week low of $11.87 and a fifty-two week high of $17.42.

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 business 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 business's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share. Analysts predict that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments's payout ratio is 130.43%.

Institutional Investors Weigh In On Retail Opportunity Investments

Hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in shares of Retail Opportunity Investments by 20.4% in the second quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust's stock worth $74,975,000 after acquiring an additional 1,020,314 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Retail Opportunity Investments by 296.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 952,252 shares of the real estate investment trust's stock worth $14,979,000 after acquiring an additional 711,835 shares during the period. Lasalle Investment Management Securities LLC raised its position 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 worth $46,783,000 after acquiring an additional 469,905 shares during the period. Strategy Asset Managers LLC raised its position in shares of Retail Opportunity Investments by 57.7% in the third quarter. Strategy Asset Managers LLC now owns 876,179 shares of the real estate investment trust's stock worth $13,782,000 after acquiring an additional 320,520 shares during the period. Finally, Easterly Investment Partners LLC acquired a new position in shares of Retail Opportunity Investments in the third quarter worth about $4,556,000. 97.16% of the stock is owned by hedge funds and other institutional investors.

About Retail Opportunity Investments

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.