JPMorgan Chase & Co. Trims Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

JPMorgan Chase & Co. lowered its position in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 10.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,039,037 shares of the real estate investment trust’s stock after selling 247,445 shares during the quarter. JPMorgan Chase & Co. owned about 1.58% of Retail Opportunity Investments worth $32,074,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ROIC. Principal Financial Group Inc. boosted its holdings in 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 during the last quarter. Federated Hermes Inc. raised its position in shares of Retail Opportunity Investments by 2.9% during the 2nd quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock valued at $56,652,000 after buying an additional 127,799 shares during the period. Geode Capital Management LLC lifted its holdings in Retail Opportunity Investments by 0.7% in the third quarter. Geode Capital Management LLC now owns 3,290,973 shares of the real estate investment trust’s stock valued at $51,776,000 after acquiring an additional 24,421 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Retail Opportunity Investments by 3.8% in 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. Finally, Dimensional Fund Advisors LP increased its stake in Retail Opportunity Investments by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,834,124 shares of the real estate investment trust’s stock worth $22,798,000 after acquiring an additional 39,980 shares during the last quarter. 97.16% of the stock is currently owned by institutional investors and hedge funds.

Retail Opportunity Investments Trading Up 0.2 %

NASDAQ ROIC opened at $17.42 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 37.87 and a beta of 1.46. The firm has a 50 day simple moving average of $17.21 and a 200-day simple moving average of $15.57. Retail Opportunity Investments Corp. has a one year low of $11.87 and a one year high of $17.52.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 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 business had revenue of $83.50 million during the quarter, compared to analysts’ expectations of $82.13 million. During the same period in the prior year, the business earned $0.27 EPS. 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 EPS for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.60 annualized dividend and a yield of 3.44%. Retail Opportunity Investments’s dividend payout ratio (DPR) is 130.43%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Baird R W lowered Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. StockNews.com began coverage on shares of Retail Opportunity Investments in a research report on Sunday. They issued a “hold” rating on the stock. KeyCorp cut shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. BMO Capital Markets upped their price objective on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a report on Friday, November 8th. Finally, Bank of America started coverage on shares of Retail Opportunity Investments in a report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 target price for the company. 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.com, the stock has a consensus rating of “Hold” and a consensus price target of $16.20.

Retail Opportunity Investments Company 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.