State of Alaska Department of Revenue Sells 2,809 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

State of Alaska Department of Revenue reduced its holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,499 shares of the real estate investment trust’s stock after selling 2,809 shares during the period. State of Alaska Department of Revenue’s holdings in Retail Opportunity Investments were worth $2,068,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Centersquare Investment Management LLC lifted its stake in shares of Retail Opportunity Investments by 6.5% in the 1st quarter. Centersquare Investment Management LLC now owns 9,319,113 shares of the real estate investment trust’s stock valued at $114,346,000 after purchasing an additional 571,370 shares during the period. Vanguard Group Inc. lifted its stake in Retail Opportunity Investments by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust’s stock valued at $254,040,000 after buying an additional 160,068 shares during the period. Lasalle Investment Management Securities LLC boosted its holdings in Retail Opportunity Investments by 14.8% during the first quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust’s stock worth $46,783,000 after buying an additional 469,905 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Retail Opportunity Investments by 12.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,181,551 shares of the real estate investment trust’s stock worth $40,787,000 after buying an additional 351,287 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Retail Opportunity Investments by 2.9% in 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 acquiring an additional 127,799 shares during the last quarter. 97.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Bank of America started coverage on shares of 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. StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. Raymond James lowered shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Wells Fargo & Company raised 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Retail Opportunity Investments currently has an average rating of “Hold” and an average price target of $15.50.

Retail Opportunity Investments Stock Performance

Shares of ROIC opened at $15.59 on Friday. The firm has a market cap of $2.01 billion, a P/E ratio of 33.89 and a beta of 1.45. Retail Opportunity Investments Corp. has a twelve month low of $11.80 and a twelve month high of $16.27. 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’s 50 day moving average price is $15.59 and its two-hundred day moving average price is $13.92.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share 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 company had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. During the same period in the previous year, the company posted $0.27 earnings per share. Retail Opportunity Investments’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts forecast that Retail Opportunity Investments Corp. will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio is presently 130.43%.

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.