Retail Opportunity Investments (NASDAQ:ROIC) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC - Free Report) in a report issued on Saturday. The firm issued a hold rating on the real estate investment trust's stock.

A number of other research analysts have also recently issued reports on the stock. Baird R W cut shares of Retail Opportunity Investments from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. Bank of America initiated coverage on shares of Retail Opportunity Investments in a report on Thursday, October 24th. They set an "underperform" rating and a $14.00 target price for the company. KeyCorp downgraded Retail Opportunity Investments from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, November 5th. Robert W. Baird reaffirmed a "neutral" rating and set a $17.50 price objective (up previously from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday, November 7th. Finally, BMO Capital Markets boosted their target price 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. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $16.17.

Retail Opportunity Investments Stock Performance

Shares of ROIC stock remained flat at $17.35 during midday trading on Friday. The company's stock had a trading volume of 996,992 shares, compared to its average volume of 1,310,625. Retail Opportunity Investments has a 1 year low of $11.87 and a 1 year high of $17.52. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 37.72 and a beta of 1.47. The company has a 50-day simple moving average of $17.01 and a 200 day simple moving average of $15.32. 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 (NASDAQ:ROIC - Get Free Report) last released its quarterly earnings results 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 firm 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 for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 earnings per share. As a group, equities analysts expect that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments's payout ratio is 130.43%.

Hedge Funds Weigh In On Retail Opportunity Investments

A number of hedge funds have recently bought and sold shares of ROIC. Principal Financial Group Inc. grew its stake 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 worth $96,072,000 after acquiring an additional 75,803 shares during the period. Federated Hermes Inc. grew its position in Retail Opportunity Investments by 2.9% in 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 period. Geode Capital Management LLC raised its stake in Retail Opportunity Investments by 0.7% during the 3rd 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 buying an additional 24,421 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Retail Opportunity Investments by 3.8% during 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 buying an additional 85,037 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Retail Opportunity Investments by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,834,124 shares of the real estate investment trust's stock worth $22,798,000 after buying an additional 39,980 shares during the last quarter. Hedge funds and other institutional investors own 97.16% of the company's stock.

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.