Retail Opportunity Investments (NASDAQ:ROIC) Sets New 12-Month High – Here’s Why

Retail Opportunity Investments Corp. (NASDAQ:ROIC) shares hit a new 52-week high on Wednesday . The company traded as high as $17.43 and last traded at $17.41, with a volume of 73253 shares trading hands. The stock had previously closed at $17.40.

Wall Street Analyst Weigh In

ROIC has been the topic of a number of research analyst reports. Baird R W cut Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. BMO Capital Markets upped 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. Raymond James downgraded shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $17.50 target price (up from $16.00) on shares of Retail Opportunity Investments in a report 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 MarketBeat, Retail Opportunity Investments presently has an average rating of “Hold” and an average target price of $16.17.

Retail Opportunity Investments Stock Performance

The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92. The company has a market cap of $2.24 billion, a PE ratio of 37.85 and a beta of 1.44. The stock’s 50-day simple moving average is $16.23 and its 200 day simple moving average is $14.55.

Retail Opportunity Investments (NASDAQ:ROIC) last announced 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). Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The business had revenue of $83.50 million for the quarter, compared to analyst estimates of $82.13 million. During the same period in the prior year, the company earned $0.27 EPS. The company’s revenue was up 2.5% on a year-over-year basis. As a group, equities analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 EPS for the current year.

Retail Opportunity Investments Dividend Announcement

The business also recently disclosed 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. This represents a $0.60 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio (DPR) is 130.43%.

Institutional Investors Weigh In On Retail Opportunity Investments

Several institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in shares of Retail Opportunity Investments by 20.4% during the 2nd quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock worth $74,975,000 after acquiring an additional 1,020,314 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Retail Opportunity Investments by 296.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 952,252 shares of the real estate investment trust’s stock valued at $14,979,000 after buying an additional 711,835 shares in the last quarter. Lasalle Investment Management Securities LLC lifted its holdings in shares of Retail Opportunity Investments by 14.8% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust’s stock worth $46,783,000 after purchasing an additional 469,905 shares during the last quarter. Strategy Asset Managers LLC raised its stake in shares of Retail Opportunity Investments by 57.7% during the third quarter. Strategy Asset Managers LLC now owns 876,179 shares of the real estate investment trust’s stock valued at $13,782,000 after purchasing an additional 320,520 shares in the last quarter. Finally, Easterly Investment Partners LLC acquired a new stake in Retail Opportunity Investments during the third quarter valued at approximately $4,556,000. Hedge funds and other 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.