State of New Jersey Common Pension Fund D Sells 29,164 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

State of New Jersey Common Pension Fund D reduced its position in Retail Opportunity Investments Corp. (NASDAQ:ROIC - Free Report) by 4.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 657,866 shares of the real estate investment trust's stock after selling 29,164 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.51% of Retail Opportunity Investments worth $10,348,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in 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 valued at $74,975,000 after purchasing an additional 1,020,314 shares in the last quarter. Centersquare Investment Management LLC lifted its holdings in shares of 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 acquiring an additional 571,370 shares during the last quarter. Lasalle Investment Management Securities LLC increased its stake in 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 acquiring an additional 469,905 shares during the last quarter. Easterly Investment Partners LLC bought a new position in Retail Opportunity Investments in the third quarter valued at $4,556,000. Finally, Vanguard Group Inc. raised its position in Retail Opportunity Investments by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust's stock valued at $254,040,000 after purchasing an additional 160,068 shares in the last quarter. Hedge funds and other institutional investors own 97.16% of the company's stock.

Retail Opportunity Investments Trading Up 0.1 %

ROIC traded up $0.01 during midday trading on Monday, reaching $17.34. 3,359,412 shares of the company's stock traded hands, compared to its average volume of 1,315,768. Retail Opportunity Investments Corp. has a 52 week low of $11.80 and a 52 week high of $17.40. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a fifty day moving average of $15.79 and a two-hundred day moving average of $14.17. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 37.70 and a beta of 1.44.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The business had revenue of $83.50 million during the quarter, compared to analysts' expectations of $82.13 million. During the same period in the previous year, the business earned $0.27 EPS. The business's revenue was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Friday, December 20th. Retail Opportunity Investments's dividend payout ratio is currently 130.43%.

Analyst Ratings Changes

A number of analysts recently weighed in on ROIC shares. 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 research report on Friday. Baird R W lowered shares of Retail Opportunity Investments from a "strong-buy" rating to a "hold" rating in a report on Thursday. Bank of America assumed coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They issued an "underperform" rating and a $14.00 target price on the stock. Robert W. Baird reissued a "neutral" rating and issued a $17.50 price target (up from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday. Finally, Raymond James lowered Retail Opportunity Investments from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $16.17.

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.