Sumitomo Mitsui Trust Group Inc. Sells 1,796,032 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 54.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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.’s holdings in Retail Opportunity Investments were worth $23,662,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GSA Capital Partners LLP bought a new stake in Retail Opportunity Investments in the third quarter worth about $775,000. Easterly Investment Partners LLC purchased a new stake in shares of Retail Opportunity Investments during the 3rd quarter worth approximately $4,556,000. Principal Financial Group Inc. raised its holdings in shares of Retail Opportunity Investments by 1.3% in the 3rd quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust’s stock worth $96,072,000 after purchasing an additional 75,803 shares during the period. Van ECK Associates Corp lifted its stake in Retail Opportunity Investments by 12.3% in the third quarter. Van ECK Associates Corp now owns 21,302 shares of the real estate investment trust’s stock valued at $338,000 after purchasing an additional 2,338 shares during the last quarter. Finally, abrdn plc grew its holdings in Retail Opportunity Investments by 10.5% during the third quarter. abrdn plc now owns 24,812 shares of the real estate investment trust’s stock valued at $390,000 after purchasing an additional 2,367 shares during the period. 97.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ROIC has been the topic of a number of recent research reports. KeyCorp cut Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Bank of America began 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 for the company. Wells Fargo & Company upped their price target 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. StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. Finally, BMO Capital Markets increased 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, November 8th. One 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, the stock presently has a consensus rating of “Hold” and an average price target of $16.17.

Retail Opportunity Investments Stock Up 0.1 %

ROIC stock opened at $17.35 on Monday. The company’s 50 day moving average is $15.97 and its 200 day moving average is $14.31. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 37.72 and a beta of 1.44. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04. Retail Opportunity Investments Corp. has a 1-year low of $11.87 and a 1-year high of $17.40.

Retail Opportunity Investments (NASDAQ:ROIC) last issued 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 company had revenue of $83.50 million during the quarter, compared to the consensus estimate of $82.13 million. During the same period in the previous year, the company earned $0.27 EPS. Retail Opportunity Investments’s quarterly revenue was up 2.5% on a year-over-year basis. Sell-side analysts predict that Retail Opportunity Investments Corp. will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders 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 currently 130.43%.

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.