Retail Opportunity Investments (NASDAQ:ROIC) Rating Lowered to Sell at StockNews.com

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

Separately, Wells Fargo & Company cut their price target on Retail Opportunity Investments from $14.00 to $13.50 and set an equal weight rating for the company in a research note on Tuesday, May 28th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $14.38.

Retail Opportunity Investments Trading Down 0.6 %

Shares of NASDAQ:ROIC opened at $15.16 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.07. Retail Opportunity Investments has a 12-month low of $10.98 and a 12-month high of $15.75. The business has a 50 day moving average of $13.16 and a two-hundred day moving average of $12.87. The company has a market capitalization of $1.93 billion, a PE ratio of 50.53, a PEG ratio of 2.01 and a beta of 1.45.

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

Retail Opportunity Investments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.96%. The ex-dividend date is Friday, September 20th. Retail Opportunity Investments’s payout ratio is 200.00%.

Institutional Trading of Retail Opportunity Investments

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Retail Opportunity Investments by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust’s stock worth $254,040,000 after buying an additional 160,068 shares during the last quarter. Centersquare Investment Management LLC lifted its position in shares of Retail Opportunity Investments by 6.5% in the first quarter. Centersquare Investment Management LLC now owns 9,319,113 shares of the real estate investment trust’s stock valued at $114,346,000 after acquiring an additional 571,370 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Retail Opportunity Investments by 20.4% in the second quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock worth $74,975,000 after acquiring an additional 1,020,314 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Retail Opportunity Investments by 2.9% during the second quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock worth $56,652,000 after purchasing an additional 127,799 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC raised its stake in Retail Opportunity Investments by 14.8% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust’s stock valued at $46,783,000 after purchasing an additional 469,905 shares during the last quarter. Institutional investors and hedge funds own 97.16% of the company’s stock.

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.