Point72 Asset Management L.P. Purchases Shares of 14,200 Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Point72 Asset Management L.P. acquired a new stake in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,200 shares of the real estate investment trust’s stock, valued at approximately $177,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Algert Global LLC increased its holdings in Retail Opportunity Investments by 40.7% in the 2nd quarter. Algert Global LLC now owns 44,159 shares of the real estate investment trust’s stock worth $549,000 after buying an additional 12,779 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Retail Opportunity Investments during the second quarter valued at approximately $227,000. Mackenzie Financial Corp purchased a new position in Retail Opportunity Investments during the second quarter valued at $166,000. The Manufacturers Life Insurance Company boosted its position in shares of Retail Opportunity Investments by 3.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,802 shares of the real estate investment trust’s stock valued at $805,000 after acquiring an additional 2,209 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Retail Opportunity Investments by 50.9% during the 2nd quarter. AQR Capital Management LLC now owns 215,539 shares of the real estate investment trust’s stock valued at $2,679,000 after buying an additional 72,718 shares during the period. Institutional investors own 97.16% of the company’s stock.

Retail Opportunity Investments Stock Up 0.3 %

ROIC stock opened at $15.57 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.38 and a quick ratio of 1.38. Retail Opportunity Investments Corp. has a 12 month low of $10.98 and a 12 month high of $16.20. The company has a fifty day moving average price of $15.35 and a 200 day moving average price of $13.50. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 51.90, a price-to-earnings-growth ratio of 2.10 and a beta of 1.45.

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

Retail Opportunity Investments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 20th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.85%. The ex-dividend date was Friday, September 20th. Retail Opportunity Investments’s dividend payout ratio is currently 200.00%.

Analyst Upgrades and Downgrades

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

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.