StockNews.com Initiates Coverage on Retail Opportunity Investments (NASDAQ:ROIC)

StockNews.com initiated coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research note issued to investors on Sunday. The brokerage issued a hold rating on the real estate investment trust’s stock.

Several other equities analysts have also recently issued reports on ROIC. Raymond James cut Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Baird R W downgraded shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. KeyCorp lowered shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. BMO Capital Markets boosted their price target on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research report on Friday, November 8th. Finally, 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 research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, Retail Opportunity Investments has a consensus rating of “Hold” and a consensus target price of $16.20.

Retail Opportunity Investments Trading Up 0.1 %

NASDAQ:ROIC opened at $17.38 on Friday. The firm has a market capitalization of $2.24 billion, a P/E ratio of 37.78 and a beta of 1.46. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04. The company has a fifty day moving average of $17.18 and a 200 day moving average of $15.51. Retail Opportunity Investments has a 52 week low of $11.87 and a 52 week high of $17.52.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the company posted $0.27 earnings per share. On average, research analysts predict that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be paid a $0.15 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.45%. Retail Opportunity Investments’s payout ratio is 130.43%.

Institutional Investors Weigh In On Retail Opportunity Investments

Several hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in shares of Retail Opportunity Investments by 8.9% during the fourth quarter. GAMMA Investing LLC now owns 10,183 shares of the real estate investment trust’s stock valued at $177,000 after purchasing an additional 832 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Retail Opportunity Investments by 2.7% in the 2nd quarter. Arizona State Retirement System now owns 35,555 shares of the real estate investment trust’s stock worth $442,000 after buying an additional 927 shares during the last quarter. Creative Planning increased its position in Retail Opportunity Investments by 6.7% during the 3rd quarter. Creative Planning now owns 18,988 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 1,194 shares in 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 during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Retail Opportunity Investments by 7.4% in the second quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock worth $236,000 after acquiring an additional 1,307 shares in the last quarter. 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.