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

StockNews.com assumed coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research note published on Tuesday morning. The firm issued a hold rating on the real estate investment trust’s stock.

Several other research analysts have also issued reports on the company. Robert W. Baird restated a “neutral” rating and set a $17.50 target price (up previously from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday, November 7th. Bank of America began coverage on Retail Opportunity Investments in a research report on Thursday, October 24th. They set an “underperform” rating and a $14.00 target price for the company. Wells Fargo & Company upped their price target on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Baird R W lowered shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, KeyCorp downgraded shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $16.17.

Retail Opportunity Investments Price Performance

Shares of Retail Opportunity Investments stock opened at $17.39 on Tuesday. The stock has a 50 day moving average price of $16.26 and a 200-day moving average price of $14.57. Retail Opportunity Investments has a one year low of $11.87 and a one year high of $17.43. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 37.80 and a beta of 1.44. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates 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 company’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 EPS. Equities analysts expect that Retail Opportunity Investments will post 1.04 EPS for the current year.

Retail Opportunity Investments Announces Dividend

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

Institutional Investors Weigh In On Retail Opportunity Investments

Hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC grew its holdings in Retail Opportunity Investments by 1,473.1% in the third quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,753 shares during the last quarter. Allworth Financial LP lifted 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 acquiring an additional 3,197 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Retail Opportunity Investments by 35.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 1,289 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Retail Opportunity Investments during the 2nd quarter worth approximately $82,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Retail Opportunity Investments by 78.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,122 shares of the real estate investment trust’s stock valued at $112,000 after purchasing an additional 3,124 shares in the last quarter. 97.16% of the stock is currently owned by hedge funds and other institutional investors.

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.