Retail Opportunity Investments (NASDAQ:ROIC) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a report published on Saturday. The firm issued a hold rating on the real estate investment trust’s stock.

A number of other equities research analysts have also issued reports on the stock. Raymond James lowered shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Robert W. Baird reiterated a “neutral” rating and issued a $17.50 target price (up from $16.00) on shares of Retail Opportunity Investments in a report on Thursday, November 7th. 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. Bank of America started coverage on Retail Opportunity Investments in a research note on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price objective for the company. Finally, KeyCorp lowered shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.17.

Retail Opportunity Investments Stock Performance

Shares of NASDAQ ROIC opened at $17.35 on Friday. The stock has a fifty day simple moving average of $17.01 and a 200-day simple moving average of $15.32. Retail Opportunity Investments has a twelve month low of $11.87 and a twelve month high of $17.52. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $2.23 billion, a PE ratio of 37.72 and a beta of 1.47.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly 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). The business had revenue of $83.50 million for the quarter, compared to analysts’ expectations of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.27 earnings per share. On average, equities analysts forecast that Retail Opportunity Investments will post 1.04 earnings per share for the current 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 given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 130.43%.

Hedge Funds Weigh In On Retail Opportunity Investments

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its holdings in Retail Opportunity Investments by 1,473.1% during the third 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 in the last quarter. Allworth Financial LP raised its stake in 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 acquiring an additional 3,197 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in 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 acquiring an additional 1,289 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Retail Opportunity Investments in the second quarter valued at $82,000. Finally, Point72 DIFC Ltd boosted its stake in Retail Opportunity Investments by 71.8% in the second quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 3,145 shares in the last quarter. 97.16% of the stock is owned by institutional investors and hedge funds.

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.