Westpac Banking Corp Has $1.63 Million Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Westpac Banking Corp trimmed its holdings in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 15.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,668 shares of the real estate investment trust’s stock after selling 17,474 shares during the period. Westpac Banking Corp’s holdings in Retail Opportunity Investments were worth $1,626,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Principal Financial Group Inc. raised its holdings in Retail Opportunity Investments by 1.3% during the third quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust’s stock worth $96,072,000 after acquiring an additional 75,803 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Retail Opportunity Investments by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,290,973 shares of the real estate investment trust’s stock worth $51,776,000 after purchasing an additional 24,421 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Retail Opportunity Investments by 58.7% in the 4th quarter. JPMorgan Chase & Co. now owns 3,235,094 shares of the real estate investment trust’s stock valued at $56,161,000 after buying an additional 1,196,057 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Retail Opportunity Investments by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,379,547 shares of the real estate investment trust’s stock valued at $41,309,000 after buying an additional 32,429 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new position in shares of Retail Opportunity Investments in the fourth quarter valued at $27,343,000. Institutional investors own 97.16% of the company’s stock.

Retail Opportunity Investments Trading Up 0.1 %

Shares of Retail Opportunity Investments stock opened at $17.51 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. The business has a fifty day simple moving average of $17.50 and a two-hundred day simple moving average of $17.01. Retail Opportunity Investments Corp. has a 1 year low of $11.87 and a 1 year high of $17.52. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 38.07 and a beta of 1.45.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Retail Opportunity Investments in a research note on Thursday. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.20.

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.