Geode Capital Management LLC Grows Stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Geode Capital Management LLC raised its stake in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,290,973 shares of the real estate investment trust’s stock after purchasing an additional 24,421 shares during the period. Geode Capital Management LLC owned 2.56% of Retail Opportunity Investments worth $51,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of ROIC. Louisiana State Employees Retirement System raised its holdings in Retail Opportunity Investments by 2.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 64,100 shares of the real estate investment trust’s stock valued at $797,000 after buying an additional 1,700 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Retail Opportunity Investments by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 1,306,866 shares of the real estate investment trust’s stock valued at $16,244,000 after acquiring an additional 13,883 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Retail Opportunity Investments by 20.4% in the 2nd quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock worth $74,975,000 after acquiring an additional 1,020,314 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Retail Opportunity Investments by 7.4% during the 2nd quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock worth $236,000 after purchasing an additional 1,307 shares during the period. Finally, Rhumbline Advisers grew its holdings in Retail Opportunity Investments by 1.1% during the 2nd quarter. Rhumbline Advisers now owns 428,775 shares of the real estate investment trust’s stock valued at $5,330,000 after purchasing an additional 4,718 shares during the last quarter. 97.16% of the stock is owned by institutional investors.

Retail Opportunity Investments Stock Performance

Shares of Retail Opportunity Investments stock opened at $17.31 on Monday. Retail Opportunity Investments Corp. has a 12 month low of $11.87 and a 12 month high of $17.52. The stock’s fifty day moving average price is $16.88 and its 200-day moving average price is $15.19. The firm has a market cap of $2.23 billion, a P/E ratio of 37.63 and a beta of 1.47. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04.

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

Retail Opportunity Investments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be issued a $0.15 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.47%. Retail Opportunity Investments’s dividend payout ratio is presently 130.43%.

Analyst Ratings Changes

Several brokerages have issued reports on ROIC. Bank of America began coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price objective for the company. StockNews.com started coverage on Retail Opportunity Investments in a report on Friday. They set a “hold” rating for the company. Wells Fargo & Company increased their target price 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. Baird R W lowered shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, KeyCorp downgraded shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.