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

Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) have been given a consensus recommendation of “Reduce” by the seven research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $16.17.

ROIC has been the subject of several research analyst reports. Bank of America began coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price objective for the company. StockNews.com assumed coverage on Retail Opportunity Investments in a research report on Friday, December 20th. They set a “hold” rating for the company. BMO Capital Markets raised their price target on Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a report on Friday, November 8th. KeyCorp cut Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Finally, Raymond James lowered shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th.

Retail Opportunity Investments Price Performance

Shares of ROIC stock opened at $17.35 on Friday. The stock’s fifty day simple moving average is $16.97 and its 200 day simple moving average is $15.27. Retail Opportunity Investments has a one year low of $11.87 and a one year high of $17.52. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 37.72 and a beta of 1.47. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $82.13 million. During the same quarter last year, the company earned $0.27 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. On average, analysts expect that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

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

Institutional Trading of Retail Opportunity Investments

A number of large investors have recently made changes to their positions in ROIC. International Assets Investment Management LLC increased 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 worth $29,000 after purchasing an additional 1,753 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Retail Opportunity Investments by 1.3% in the third 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 buying an additional 75,803 shares during the period. Federated Hermes Inc. increased its position in shares of Retail Opportunity Investments by 2.9% during the second quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock worth $56,652,000 after acquiring an additional 127,799 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Retail Opportunity Investments by 73.9% during the third quarter. Citigroup Inc. now owns 238,315 shares of the real estate investment trust’s stock worth $3,749,000 after acquiring an additional 101,275 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Retail Opportunity Investments by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,347,118 shares of the real estate investment trust’s stock worth $36,920,000 after acquiring an additional 85,037 shares during the period. Institutional investors own 97.16% of the company’s stock.

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.