Baird R W Downgrades Retail Opportunity Investments (NASDAQ:ROIC) to Hold

Baird R W downgraded shares of Retail Opportunity Investments (NASDAQ:ROIC) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

ROIC has been the subject of several other reports. KeyCorp cut shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday. Wells Fargo & Company raised their price objective on Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Robert W. Baird reiterated a “neutral” rating and set a $17.50 target price (up previously from $16.00) on shares of Retail Opportunity Investments in a report on Thursday. Raymond James lowered shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Retail Opportunity Investments currently has an average rating of “Hold” and an average price target of $16.17.

Retail Opportunity Investments Trading Up 0.1 %

Shares of ROIC stock traded up $0.01 during mid-day trading on Thursday, hitting $17.33. 5,458,563 shares of the company’s stock were exchanged, compared to its average volume of 1,298,410. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 37.67 and a beta of 1.44. The stock has a 50-day simple moving average of $15.71 and a two-hundred day simple moving average of $14.07. Retail Opportunity Investments has a fifty-two week low of $11.80 and a fifty-two week high of $17.40. 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 (NASDAQ:ROIC) last posted its quarterly earnings data 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 net margin of 17.38% and a return on equity of 4.32%. The company had revenue of $83.50 million for the quarter, compared to analyst estimates of $82.13 million. During the same period in the prior year, the company earned $0.27 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. Equities analysts expect that Retail Opportunity Investments 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. Shareholders of record on Friday, December 20th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio (DPR) is 130.43%.

Institutional Trading of Retail Opportunity Investments

Several large investors have recently modified their holdings of the business. International Assets Investment Management LLC grew its holdings in Retail Opportunity Investments by 1,473.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 1,753 shares in the last quarter. Allworth Financial LP increased its holdings in Retail Opportunity Investments by 4,320.3% in the third quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 3,197 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Retail Opportunity Investments by 35.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock valued at $77,000 after buying an additional 1,289 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Retail Opportunity Investments during the 2nd quarter worth approximately $82,000. Finally, Point72 DIFC Ltd grew its position in shares of Retail Opportunity Investments by 71.8% in the 2nd quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 3,145 shares in the last quarter. 97.16% of the stock is currently owned by institutional investors and hedge funds.

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.