Sumitomo Mitsui Trust Group Inc. Has $23.66 Million Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC - Free Report) by 54.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,504,285 shares of the real estate investment trust's stock after selling 1,796,032 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 1.17% of Retail Opportunity Investments worth $23,662,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in shares of Retail Opportunity Investments by 1,473.1% during 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 purchasing an additional 1,753 shares during the period. Allworth Financial LP increased its holdings in shares of Retail Opportunity Investments by 4,320.3% during the 3rd quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust's stock worth $51,000 after purchasing an additional 3,197 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 purchasing an additional 1,289 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Retail Opportunity Investments during the 2nd quarter worth about $82,000. Finally, Point72 DIFC Ltd increased its holdings in shares of Retail Opportunity Investments by 71.8% during the 2nd quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust's stock worth $94,000 after purchasing an additional 3,145 shares during the period. Institutional investors and hedge funds own 97.16% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ROIC shares. BMO Capital Markets boosted their price objective on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a "market perform" rating in a report on Friday, November 8th. Bank of America initiated coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They issued an "underperform" rating and a $14.00 target price on the stock. StockNews.com raised shares of Retail Opportunity Investments from a "sell" rating to a "hold" rating in a research note on Monday, August 19th. KeyCorp cut shares of Retail Opportunity Investments from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, November 5th. Finally, Baird R W cut shares of Retail Opportunity Investments from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $16.17.

Retail Opportunity Investments Price Performance

NASDAQ:ROIC traded up $0.02 on Monday, reaching $17.37. The stock had a trading volume of 2,064,662 shares, compared to its average volume of 1,330,678. The company has a market capitalization of $2.23 billion, a P/E ratio of 37.76 and a beta of 1.44. Retail Opportunity Investments Corp. has a 1-year low of $11.87 and a 1-year high of $17.40. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04. The stock has a fifty day moving average price of $15.97 and a 200-day moving average price of $14.31.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last announced 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 return on equity of 4.32% and a net margin of 17.38%. The company had revenue of $83.50 million for the quarter, compared to analyst estimates of $82.13 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. Retail Opportunity Investments's revenue for the quarter was up 2.5% on a year-over-year basis. Research analysts forecast that Retail Opportunity Investments Corp. will post 1.04 EPS for the current year.

Retail Opportunity Investments Dividend Announcement

The business 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 dividend of $0.15 per share. The ex-dividend date is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.45%. Retail Opportunity Investments's payout ratio is 130.43%.

Retail Opportunity Investments 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.