Retail Opportunity Investments (NASDAQ:ROIC) Reaches New 1-Year High at $15.78

Retail Opportunity Investments Corp. (NASDAQ:ROIC) shares reached a new 52-week high on Thursday . The stock traded as high as $15.78 and last traded at $15.75, with a volume of 679234 shares. The stock had previously closed at $15.16.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ROIC shares. Wells Fargo & Company boosted their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Raymond James lifted their target price on Retail Opportunity Investments from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Retail Opportunity Investments has a consensus rating of “Hold” and a consensus target price of $15.00.

Retail Opportunity Investments Stock Up 1.9 %

The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.07. The stock’s 50-day moving average price is $14.55 and its 200-day moving average price is $13.20. The company has a market cap of $2.04 billion, a P/E ratio of 53.23, a PEG ratio of 2.01 and a beta of 1.45.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.06 EPS 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 during the quarter, compared to analyst estimates of $81.19 million. During the same period last year, the business posted $0.27 EPS. The company’s revenue was up 1.6% on a year-over-year basis. As a group, research analysts forecast that Retail Opportunity Investments Corp. will post 1.05 EPS for the current year.

Retail Opportunity Investments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Friday, September 20th. Retail Opportunity Investments’s dividend payout ratio is currently 200.00%.

Institutional Investors Weigh In On Retail Opportunity Investments

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its stake in 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 acquiring an additional 3,257,862 shares in the last quarter. Centersquare Investment Management LLC grew its position in Retail Opportunity Investments by 31.7% in the 4th quarter. Centersquare Investment Management LLC now owns 8,747,743 shares of the real estate investment trust’s stock worth $122,731,000 after purchasing an additional 2,105,436 shares in the last quarter. Lasalle Investment Management Securities LLC increased its stake in Retail Opportunity Investments by 43.7% in 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 during the last quarter. Norges Bank purchased a new stake in Retail Opportunity Investments in the 4th quarter valued at about $11,328,000. Finally, Easterly Investment Partners LLC bought a new position in shares of Retail Opportunity Investments during the 1st quarter worth approximately $7,764,000. 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.