BNP Paribas Financial Markets Decreases Stock Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

BNP Paribas Financial Markets decreased its stake in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 6.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,896 shares of the real estate investment trust’s stock after selling 2,720 shares during the quarter. BNP Paribas Financial Markets’ holdings in Retail Opportunity Investments were worth $659,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ROIC. International Assets Investment Management LLC lifted 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 valued at $29,000 after buying an additional 1,753 shares during the period. Federated Hermes Inc. lifted its holdings in Retail Opportunity Investments by 2.9% in the second quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock valued at $56,652,000 after acquiring an additional 127,799 shares during the period. Citigroup Inc. grew its stake in shares of Retail Opportunity Investments by 73.9% during the 3rd quarter. Citigroup Inc. now owns 238,315 shares of the real estate investment trust’s stock worth $3,749,000 after purchasing an additional 101,275 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Retail Opportunity Investments by 1.3% in the 3rd quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust’s stock valued at $96,072,000 after purchasing an additional 75,803 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Retail Opportunity Investments by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,347,118 shares of the real estate investment trust’s stock valued at $36,920,000 after purchasing an additional 85,037 shares in the last quarter. Institutional investors and hedge funds own 97.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Robert W. Baird reissued a “neutral” rating and issued a $17.50 price objective (up from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. Baird R W cut shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. BMO Capital Markets upped their target price on Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research note on Friday, November 8th. Wells Fargo & Company raised their price target 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. Finally, KeyCorp downgraded Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, Retail Opportunity Investments has a consensus rating of “Hold” and an average target price of $16.17.

Retail Opportunity Investments Stock Down 0.1 %

ROIC stock opened at $17.44 on Friday. The firm has a market cap of $2.24 billion, a PE ratio of 37.91 and a beta of 1.47. Retail Opportunity Investments Corp. has a 12 month low of $11.87 and a 12 month high of $17.52. 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 firm has a 50 day simple moving average of $16.65 and a 200 day simple moving average of $14.94.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its 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 net margin of 17.38% and a return on equity of 4.32%. The firm had revenue of $83.50 million for the quarter, compared to analyst estimates of $82.13 million. During the same period last year, the firm earned $0.27 earnings per share. Retail Opportunity Investments’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts forecast that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The business also recently announced 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 is Friday, December 20th. Retail Opportunity Investments’s payout ratio 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.