Thrivent Financial for Lutherans Sells 185,264 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Thrivent Financial for Lutherans trimmed its stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC - Free Report) by 64.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,088 shares of the real estate investment trust's stock after selling 185,264 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of Retail Opportunity Investments worth $1,574,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ROIC. Russell Investments Group Ltd. increased its position in Retail Opportunity Investments by 164.7% in the 1st quarter. Russell Investments Group Ltd. now owns 17,343 shares of the real estate investment trust's stock valued at $222,000 after buying an additional 10,790 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Retail Opportunity Investments during the first quarter valued at approximately $128,000. Price T Rowe Associates Inc. MD raised its position in shares of Retail Opportunity Investments by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 91,939 shares of the real estate investment trust's stock worth $1,179,000 after purchasing an additional 4,491 shares during the period. Vanderbilt University raised its position in shares of Retail Opportunity Investments by 41.1% during the second quarter. Vanderbilt University now owns 52,104 shares of the real estate investment trust's stock worth $648,000 after purchasing an additional 15,186 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Retail Opportunity Investments by 3.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,300,317 shares of the real estate investment trust's stock worth $41,023,000 after purchasing an additional 118,766 shares in the last quarter. 97.16% of the stock is owned by institutional investors.

Retail Opportunity Investments Stock Performance

Shares of Retail Opportunity Investments stock traded up $0.01 during trading hours on Friday, hitting $17.40. 766,437 shares of the company's stock traded hands, compared to its average volume of 1,323,727. The company has a fifty day simple moving average of $16.32 and a 200-day simple moving average of $14.64. 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 stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 37.83 and a beta of 1.44. Retail Opportunity Investments Corp. has a 12-month low of $11.87 and a 12-month high of $17.43.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $83.50 million during the quarter, compared to the consensus estimate 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 was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 EPS. Equities research analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have weighed in on ROIC shares. KeyCorp downgraded shares of Retail Opportunity Investments from an "overweight" rating to a "sector weight" rating in a report on Tuesday, November 5th. 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. Raymond James lowered Retail Opportunity Investments from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 30th. BMO Capital Markets upped their price target 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. Finally, Baird R W lowered Retail Opportunity Investments from a "strong-buy" rating to a "hold" rating in a research 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price 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.