Allspring Global Investments Holdings LLC Sells 200,312 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Allspring Global Investments Holdings LLC trimmed its position in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 99.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,728 shares of the real estate investment trust’s stock after selling 200,312 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Retail Opportunity Investments were worth $27,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ROIC. Meeder Asset Management Inc. bought a new stake in shares of Retail Opportunity Investments in the second quarter worth about $82,000. Point72 DIFC Ltd increased its stake in Retail Opportunity Investments by 71.8% during the second quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 3,145 shares during the last quarter. EntryPoint Capital LLC increased its stake in Retail Opportunity Investments by 155.8% during the first quarter. EntryPoint Capital LLC now owns 8,717 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 5,309 shares during the last quarter. Headlands Technologies LLC bought a new stake in Retail Opportunity Investments during the second quarter worth approximately $114,000. Finally, Lazard Asset Management LLC bought a new stake in Retail Opportunity Investments during the first quarter worth approximately $128,000. 97.16% of the stock is owned by institutional investors.

Retail Opportunity Investments Trading Down 1.3 %

ROIC opened at $16.59 on Wednesday. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 36.07 and a beta of 1.44. The stock’s 50 day moving average price is $15.64 and its 200-day moving average price is $14.03. Retail Opportunity Investments Corp. has a one year low of $11.80 and a one year high of $17.17. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92.

Retail Opportunity Investments (NASDAQ:ROIC) last released its 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). The business had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 EPS. On average, equities analysts forecast that Retail Opportunity Investments Corp. will post 1.04 EPS for the current year.

Retail Opportunity Investments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.62%. Retail Opportunity Investments’s payout ratio is 130.43%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ROIC shares. StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. Wells Fargo & Company boosted their price objective on Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. KeyCorp cut Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday. Raymond James cut Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Finally, Bank of America started coverage on Retail Opportunity Investments in a research note on Thursday, October 24th. They set an “underperform” rating and a $14.00 price objective on the stock. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $15.50.

Retail Opportunity Investments 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.