Retail Opportunity Investments Corp. (NASDAQ:ROIC) Given Average Rating of “Reduce” by Brokerages

Retail Opportunity Investments Corp. (NASDAQ:ROIC) has been assigned a consensus rating of “Reduce” from the seven brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $16.17.

Several equities research analysts recently issued reports on the stock. Bank of America assumed 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. StockNews.com started coverage on shares of Retail Opportunity Investments in a report on Friday, December 20th. They set a “hold” rating for the company. 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 report on Thursday, November 7th. KeyCorp cut Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Finally, Raymond James lowered Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th.

Retail Opportunity Investments Trading Down 0.2 %

NASDAQ:ROIC opened at $17.35 on Friday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04. Retail Opportunity Investments has a twelve month low of $11.87 and a twelve month high of $17.52. The company has a market cap of $2.23 billion, a P/E ratio of 37.72 and a beta of 1.47. The business has a 50 day moving average price of $16.97 and a two-hundred day moving average price of $15.27.

Retail Opportunity Investments (NASDAQ:ROIC) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share 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 the consensus estimate of $82.13 million. During the same period last year, the business posted $0.27 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, analysts expect that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

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

Institutional Trading of Retail Opportunity Investments

A number of institutional investors have recently modified their holdings of ROIC. Louisiana State Employees Retirement System lifted its holdings in shares of Retail Opportunity Investments by 2.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 64,100 shares of the real estate investment trust’s stock worth $797,000 after acquiring an additional 1,700 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Retail Opportunity Investments by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,306,866 shares of the real estate investment trust’s stock valued at $16,244,000 after purchasing an additional 13,883 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Retail Opportunity Investments by 20.4% in the 2nd 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 during the last quarter. Van ECK Associates Corp raised its holdings in shares of Retail Opportunity Investments by 7.4% during the 2nd quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock worth $236,000 after buying an additional 1,307 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Retail Opportunity Investments by 1.1% during the 2nd quarter. Rhumbline Advisers now owns 428,775 shares of the real estate investment trust’s stock worth $5,330,000 after buying an additional 4,718 shares during the last quarter. 97.16% of the stock is currently owned by institutional investors.

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.