StockNews.com Initiates Coverage on Retail Opportunity Investments (NASDAQ:ROIC)

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

Several other equities analysts have also recently commented on ROIC. BMO Capital Markets upped their target price on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the company a "market perform" rating in a research note on Friday, November 8th. Wells Fargo & Company increased their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 28th. 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 assumed coverage on Retail Opportunity Investments in a report on Thursday, October 24th. They issued an "underperform" rating and a $14.00 price target for the company. Finally, Robert W. Baird reissued a "neutral" rating and set a $17.50 price objective (up previously from $16.00) on shares of Retail Opportunity Investments in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $16.17.

Retail Opportunity Investments Stock Performance

Shares of NASDAQ:ROIC traded down $0.09 during midday trading on Friday, hitting $17.31. The company's stock had a trading volume of 3,799,250 shares, compared to its average volume of 1,322,984. Retail Opportunity Investments has a fifty-two week low of $11.87 and a fifty-two week high of $17.52. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 37.63 and a beta of 1.47. The stock's 50 day simple moving average is $16.84 and its 200 day simple moving average is $15.12.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last released its 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). Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The business had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. During the same period last year, the business earned $0.27 EPS. The business's quarterly revenue was up 2.5% compared to the same quarter last year. As a group, research analysts anticipate that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.47%. Retail Opportunity Investments's dividend payout ratio (DPR) is presently 130.43%.

Institutional Investors Weigh In On Retail Opportunity Investments

Several institutional investors and hedge funds have recently made changes to their positions in ROIC. International Assets Investment Management LLC boosted its holdings in shares of Retail Opportunity Investments by 1,473.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 1,753 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Retail Opportunity Investments by 4,320.3% in the 3rd quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust's stock valued at $51,000 after purchasing an additional 3,197 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Retail Opportunity Investments by 35.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust's stock worth $77,000 after buying an additional 1,289 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Retail Opportunity Investments during the second quarter worth approximately $82,000. Finally, Point72 DIFC Ltd raised its stake in shares of Retail Opportunity Investments by 71.8% during the second quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust's stock worth $94,000 after buying an additional 3,145 shares during the last quarter. Institutional investors and hedge funds own 97.16% of the company's stock.

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.