New York State Teachers Retirement System Sells 700 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

New York State Teachers Retirement System trimmed its holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 192,873 shares of the real estate investment trust’s stock after selling 700 shares during the quarter. New York State Teachers Retirement System owned approximately 0.15% of Retail Opportunity Investments worth $3,034,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ROIC. Vanguard Group Inc. boosted its position in Retail Opportunity Investments by 0.8% in the 1st 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. Centersquare Investment Management LLC boosted its holdings in shares of Retail Opportunity Investments by 6.5% in the first 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. Principal Financial Group Inc. boosted its holdings in shares of Retail Opportunity Investments by 20.4% in the second quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock valued at $74,975,000 after purchasing an additional 1,020,314 shares during the period. Federated Hermes Inc. grew its stake in Retail Opportunity Investments by 2.9% in the second quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock worth $56,652,000 after purchasing an additional 127,799 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC increased its holdings in Retail Opportunity Investments by 14.8% during the 1st 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 purchasing an additional 469,905 shares during the period. 97.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on ROIC. Wells Fargo & Company upped their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a 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, October 30th. 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. Finally, Robert W. Baird reissued a “neutral” rating and issued a $17.50 price objective (up previously from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $15.90.

Retail Opportunity Investments Stock Down 0.2 %

NASDAQ:ROIC opened at $17.32 on Friday. The company’s 50-day simple moving average is $15.71 and its 200-day simple moving average is $14.07. 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 Corp. has a fifty-two week low of $11.80 and a fifty-two week high of $17.40. The stock has a market capitalization of $2.23 billion, a P/E ratio of 37.65 and a beta of 1.44.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm 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 firm posted $0.27 earnings per share. Retail Opportunity Investments’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 130.43%.

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.