State of New Jersey Common Pension Fund D Lowers Holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

State of New Jersey Common Pension Fund D lessened its position in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 4.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 657,866 shares of the real estate investment trust’s stock after selling 29,164 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Retail Opportunity Investments were worth $10,348,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Inspire Investing LLC boosted its position in Retail Opportunity Investments by 3.1% during the first quarter. Inspire Investing LLC now owns 28,070 shares of the real estate investment trust’s stock worth $360,000 after purchasing an additional 856 shares in the last quarter. Arizona State Retirement System grew its stake in Retail Opportunity Investments by 2.7% in the 2nd quarter. Arizona State Retirement System now owns 35,555 shares of the real estate investment trust’s stock valued at $442,000 after acquiring an additional 927 shares during the last quarter. Creative Planning raised its position in Retail Opportunity Investments by 6.7% during the third quarter. Creative Planning now owns 18,988 shares of the real estate investment trust’s stock worth $299,000 after acquiring an additional 1,194 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Retail Opportunity Investments by 35.2% in the third 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 during the period. Finally, Van ECK Associates Corp increased its stake in Retail Opportunity Investments by 7.4% in the second 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 last quarter. Hedge funds and other institutional investors own 97.16% of the company’s stock.

Analysts Set New Price Targets

ROIC has been the subject of several recent analyst reports. Raymond James cut Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. Robert W. Baird reaffirmed a “neutral” rating and set a $17.50 price target (up previously from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday. Baird R W cut shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Finally, Wells Fargo & Company increased their target price on 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. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, Retail Opportunity Investments currently has an average rating of “Hold” and an average target price of $16.17.

Retail Opportunity Investments Price Performance

Shares of ROIC stock opened at $17.33 on Monday. Retail Opportunity Investments Corp. has a twelve month low of $11.80 and a twelve month high of $17.40. The company has a market capitalization of $2.23 billion, a PE ratio of 37.67 and a beta of 1.44. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04. The firm has a fifty day simple moving average of $15.75 and a 200-day simple moving average of $14.13.

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). Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The firm had revenue of $83.50 million during the quarter, compared to analysts’ expectations of $82.13 million. During the same period in the previous year, the company earned $0.27 earnings per share. The business’s quarterly revenue was up 2.5% on a year-over-year basis. Equities research analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a yield of 3.46%. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 130.43%.

Retail Opportunity Investments Profile

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.