StockNews.com Lowers Retail Opportunity Investments (NASDAQ:ROIC) to Sell

StockNews.com lowered shares of Retail Opportunity Investments (NASDAQ:ROIC) from a hold rating to a sell rating in a research report released on Wednesday morning.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company lowered their target price on shares of Retail Opportunity Investments from $14.00 to $13.50 and set an equal weight rating on the stock in a research note on Tuesday, May 28th. Bank of America restated an underperform rating and set a $12.00 target price (down previously from $14.50) on shares of Retail Opportunity Investments in a research note on Friday, April 5th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $14.38.

Retail Opportunity Investments Stock Up 0.7 %

ROIC opened at $15.24 on Wednesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.38 and a current ratio of 1.38. Retail Opportunity Investments has a fifty-two week low of $10.98 and a fifty-two week high of $15.75. The firm’s fifty day moving average is $12.75 and its 200 day moving average is $12.83. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 50.80, a price-to-earnings-growth ratio of 2.01 and a beta of 1.45.

Retail Opportunity Investments (NASDAQ:ROIC) last released its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.19). Retail Opportunity Investments had a net margin of 10.40% and a return on equity of 2.57%. The firm had revenue of $83.32 million for the quarter, compared to analysts’ expectations of $81.19 million. During the same quarter last year, the firm posted $0.27 EPS. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts forecast that Retail Opportunity Investments will post 1.05 earnings per share for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Friday, September 20th. Retail Opportunity Investments’s payout ratio is currently 200.00%.

Institutional Trading of Retail Opportunity Investments

Several hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its position in shares of Retail Opportunity Investments by 185.8% during the 1st quarter. Principal Financial Group Inc. now owns 5,011,476 shares of the real estate investment trust’s stock valued at $64,247,000 after buying an additional 3,257,862 shares in the last quarter. Centersquare Investment Management LLC raised its position in shares of Retail Opportunity Investments by 31.7% during the 4th quarter. Centersquare Investment Management LLC now owns 8,747,743 shares of the real estate investment trust’s stock valued at $122,731,000 after buying an additional 2,105,436 shares in the last quarter. Waterfront Capital Partners LLC purchased a new stake in shares of Retail Opportunity Investments during the 4th quarter valued at about $17,460,000. Lasalle Investment Management Securities LLC raised its position in shares of Retail Opportunity Investments by 43.7% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 3,179,277 shares of the real estate investment trust’s stock valued at $44,605,000 after buying an additional 966,860 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Retail Opportunity Investments by 45.5% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,830,264 shares of the real estate investment trust’s stock valued at $39,709,000 after buying an additional 884,914 shares in the last quarter. Hedge funds and other institutional investors own 97.16% of the company’s stock.

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.