Fmr LLC Sells 45,240 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Fmr LLC cut its position in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 32.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 92,670 shares of the real estate investment trust’s stock after selling 45,240 shares during the quarter. Fmr LLC’s holdings in Retail Opportunity Investments were worth $1,458,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in Retail Opportunity Investments in the third quarter worth about $770,000. The Manufacturers Life Insurance Company raised its holdings in Retail Opportunity Investments by 4.4% in the third quarter. The Manufacturers Life Insurance Company now owns 67,625 shares of the real estate investment trust’s stock worth $1,064,000 after purchasing an additional 2,823 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Retail Opportunity Investments by 6.6% in the third quarter. Daiwa Securities Group Inc. now owns 42,741 shares of the real estate investment trust’s stock worth $672,000 after purchasing an additional 2,640 shares in the last quarter. Citigroup Inc. raised its holdings in Retail Opportunity Investments by 73.9% in the third quarter. Citigroup Inc. now owns 238,315 shares of the real estate investment trust’s stock worth $3,749,000 after purchasing an additional 101,275 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Retail Opportunity Investments by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,347,118 shares of the real estate investment trust’s stock worth $36,920,000 after acquiring an additional 85,037 shares during the last quarter. 97.16% of the stock is currently owned by institutional investors.

Retail Opportunity Investments Price Performance

Shares of NASDAQ ROIC opened at $17.44 on Monday. The business’s 50 day moving average price is $16.69 and its 200 day moving average price is $15.02. The firm has a market cap of $2.24 billion, a P/E ratio of 37.91 and a beta of 1.47. Retail Opportunity Investments Corp. has a 52 week low of $11.87 and a 52 week high of $17.52. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04.

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

Retail Opportunity Investments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Friday, December 20th. Retail Opportunity Investments’s payout ratio is 130.43%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ROIC shares. StockNews.com started coverage on Retail Opportunity Investments in a research note on Thursday. They set a “hold” rating on the stock. BMO Capital Markets boosted their price target on Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a research note on Friday, November 8th. 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 target on the stock. Baird R W lowered Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird restated a “neutral” rating and set a $17.50 price target (up previously from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.17.

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.