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

Retail Opportunity Investments Corp. (NASDAQ:ROIC) has received an average recommendation of “Reduce” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $16.17.

Several research firms have recently issued reports on ROIC. KeyCorp cut Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. Wells Fargo & Company boosted their price objective 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. BMO Capital Markets raised their target price on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a research report on Friday, November 8th. Baird R W lowered shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Raymond James downgraded shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th.

Hedge Funds Weigh In On Retail Opportunity Investments

A number of hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in Retail Opportunity Investments by 1,473.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 1,753 shares during the last quarter. Allworth Financial LP lifted 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 purchasing an additional 3,197 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Retail Opportunity Investments by 35.2% during 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 in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Retail Opportunity Investments during the second quarter valued at $82,000. Finally, Point72 DIFC Ltd increased its holdings in Retail Opportunity Investments by 71.8% in the 2nd quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock worth $94,000 after buying an additional 3,145 shares in the last quarter. Institutional investors own 97.16% of the company’s stock.

Retail Opportunity Investments Stock Performance

Shares of NASDAQ ROIC opened at $17.40 on Monday. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 37.83 and a beta of 1.44. The stock’s 50-day moving average is $16.32 and its 200 day moving average is $14.65. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04. Retail Opportunity Investments has a 1-year low of $11.87 and a 1-year high of $17.43.

Retail Opportunity Investments (NASDAQ:ROIC) last posted 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). Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The company had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. During the same quarter in the previous year, the business earned $0.27 earnings per share. Retail Opportunity Investments’s revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

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 given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 130.43%.

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.