Retail Opportunity Investments Corp. (NASDAQ:ROIC) Given Consensus Rating of “Reduce” by Brokerages

Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) have been assigned an average recommendation of “Reduce” from the five ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $15.90.

A number of research firms recently issued reports on ROIC. Bank of America began coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They issued an “underperform” rating and a $14.00 target price on the stock. Robert W. Baird restated a “neutral” rating and issued a $17.50 price target (up from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday. Raymond James cut shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. 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 research report on Wednesday, August 28th. Finally, KeyCorp cut Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday.

Retail Opportunity Investments Trading Up 0.2 %

Shares of ROIC opened at $17.38 on Thursday. Retail Opportunity Investments has a 12 month low of $11.80 and a 12 month high of $17.40. The stock has a market cap of $2.24 billion, a PE ratio of 37.78 and a beta of 1.44. 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 stock’s 50-day moving average is $15.67 and its two-hundred day moving average is $14.05.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS 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 during the quarter, compared to analyst estimates of $82.13 million. During the same period in the prior year, the firm earned $0.27 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts forecast that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders 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 payout ratio is currently 130.43%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ROIC. International Assets Investment Management LLC grew its position 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 valued at $29,000 after acquiring an additional 1,753 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Retail Opportunity Investments by 4,320.3% during the third quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 3,197 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Retail Opportunity Investments by 35.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock valued at $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 valued at $82,000. Finally, Point72 DIFC Ltd grew its holdings in shares of Retail Opportunity Investments by 71.8% during the second quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 3,145 shares in the last quarter. 97.16% of the stock is 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.