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

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

A number of other equities research analysts have also commented on ROIC. KeyCorp lowered Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Robert W. Baird reaffirmed a “neutral” rating and issued a $17.50 price target (up previously from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. Baird R W cut shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America started coverage on Retail Opportunity Investments in a report on Thursday, October 24th. They set an “underperform” rating and a $14.00 target price for the company. Finally, Raymond James lowered Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, Retail Opportunity Investments presently has an average rating of “Hold” and a consensus target price of $16.17.

Retail Opportunity Investments Stock Performance

Shares of NASDAQ:ROIC opened at $17.38 on Friday. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 37.78 and a beta of 1.47. The firm’s 50 day simple moving average is $17.05 and its 200 day simple moving average is $15.39. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. Retail Opportunity Investments has a fifty-two week low of $11.87 and a fifty-two week high of $17.52.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. Retail Opportunity Investments’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.27 EPS. As a group, sell-side analysts forecast that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Announces Dividend

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

Institutional Investors Weigh In On Retail Opportunity Investments

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in Retail Opportunity Investments by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 1,306,866 shares of the real estate investment trust’s stock worth $16,244,000 after buying an additional 13,883 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Retail Opportunity Investments by 7.4% in the 2nd quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock valued at $236,000 after purchasing an additional 1,307 shares during the period. Rhumbline Advisers lifted its stake in Retail Opportunity Investments by 1.1% in the 2nd quarter. Rhumbline Advisers now owns 428,775 shares of the real estate investment trust’s stock valued at $5,330,000 after purchasing an additional 4,718 shares during the last quarter. Wolverine Asset Management LLC grew its holdings in Retail Opportunity Investments by 130.6% during the second quarter. Wolverine Asset Management LLC now owns 206,218 shares of the real estate investment trust’s stock worth $2,563,000 after purchasing an additional 116,797 shares during the period. Finally, Victory Capital Management Inc. increased its position in Retail Opportunity Investments by 16.0% during the second quarter. Victory Capital Management Inc. now owns 185,236 shares of the real estate investment trust’s stock worth $2,302,000 after buying an additional 25,574 shares during the last quarter. Institutional investors 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.