Rhumbline Advisers Increases Holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Rhumbline Advisers grew its position in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 428,775 shares of the real estate investment trust’s stock after buying an additional 4,718 shares during the quarter. Rhumbline Advisers owned 0.34% of Retail Opportunity Investments worth $5,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of ROIC. Van ECK Associates Corp lifted its stake in shares of Retail Opportunity Investments by 7.4% in the 2nd quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock worth $236,000 after purchasing an additional 1,307 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Retail Opportunity Investments by 20.4% during the 2nd quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock worth $74,975,000 after acquiring an additional 1,020,314 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Retail Opportunity Investments by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,306,866 shares of the real estate investment trust’s stock valued at $16,244,000 after acquiring an additional 13,883 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Retail Opportunity Investments by 2.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 64,100 shares of the real estate investment trust’s stock valued at $797,000 after acquiring an additional 1,700 shares during the period. Finally, Stableford Capital II LLC lifted its position in Retail Opportunity Investments by 62.7% during the second quarter. Stableford Capital II LLC now owns 203,861 shares of the real estate investment trust’s stock valued at $2,746,000 after purchasing an additional 78,598 shares in the last quarter. 97.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wells Fargo & Company upped 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. Raymond James raised their target price on shares of Retail Opportunity Investments from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Finally, StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.00.

Retail Opportunity Investments Stock Up 1.9 %

Shares of ROIC opened at $15.97 on Monday. Retail Opportunity Investments Corp. has a 12-month low of $10.98 and a 12-month high of $15.98. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $2.04 billion, a PE ratio of 53.23, a price-to-earnings-growth ratio of 2.01 and a beta of 1.45. The business’s 50 day moving average is $14.55 and its 200 day moving average is $13.20.

Retail Opportunity Investments (NASDAQ:ROIC) last released its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.06 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.19). The company had revenue of $83.32 million during the quarter, compared to analysts’ expectations of $81.19 million. Retail Opportunity Investments had a return on equity of 2.57% and a net margin of 10.40%. Retail Opportunity Investments’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the firm posted $0.27 EPS. Research analysts expect that Retail Opportunity Investments Corp. will post 1.05 earnings per share for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be issued a $0.15 dividend. The ex-dividend date is Friday, September 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.76%. Retail Opportunity Investments’s dividend payout ratio (DPR) is 200.00%.

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.