Citigroup Inc. Buys 101,275 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Citigroup Inc. boosted its holdings in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 73.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 238,315 shares of the real estate investment trust’s stock after purchasing an additional 101,275 shares during the quarter. Citigroup Inc. owned about 0.19% of Retail Opportunity Investments worth $3,749,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ROIC. International Assets Investment Management LLC raised its holdings in shares of Retail Opportunity Investments by 1,473.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 1,753 shares in the last quarter. Allworth Financial LP boosted its position in Retail Opportunity Investments by 4,320.3% in the 3rd 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 position in shares of Retail Opportunity Investments by 35.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 1,289 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Retail Opportunity Investments in the 2nd quarter worth $82,000. Finally, Point72 DIFC Ltd boosted its position in shares of 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 purchasing an additional 3,145 shares during the last quarter. Institutional investors own 97.16% of the company’s stock.

Retail Opportunity Investments Trading Up 0.1 %

Shares of NASDAQ:ROIC opened at $17.43 on Thursday. Retail Opportunity Investments Corp. has a 12-month low of $11.87 and a 12-month high of $17.49. The stock has a market cap of $2.24 billion, a PE ratio of 37.89 and a beta of 1.47. The business has a 50 day moving average of $16.43 and a 200-day moving average of $14.74. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04.

Retail Opportunity Investments (NASDAQ:ROIC) last issued 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 company had revenue of $83.50 million during the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share. As a group, equities research analysts forecast that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Announces Dividend

The business also recently declared 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 3.44%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio (DPR) is currently 130.43%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ROIC. Baird R W lowered Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. StockNews.com started coverage on Retail Opportunity Investments in a research report on Wednesday. They issued a “hold” rating on the stock. Raymond James downgraded Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. KeyCorp cut Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company lifted their price target on Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, Retail Opportunity Investments has a consensus rating of “Hold” and a consensus target price of $16.17.

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.