State of New Jersey Common Pension Fund D Sells 317,132 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

State of New Jersey Common Pension Fund D reduced its position in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 31.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 687,030 shares of the real estate investment trust’s stock after selling 317,132 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Retail Opportunity Investments were worth $8,540,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ROIC. Principal Financial Group Inc. boosted its stake in shares of Retail Opportunity Investments by 185.8% in the 1st quarter. Principal Financial Group Inc. now owns 5,011,476 shares of the real estate investment trust’s stock valued at $64,247,000 after purchasing an additional 3,257,862 shares during the last quarter. Centersquare Investment Management LLC boosted its stake in Retail Opportunity Investments by 31.7% during the fourth quarter. Centersquare Investment Management LLC now owns 8,747,743 shares of the real estate investment trust’s stock worth $122,731,000 after acquiring an additional 2,105,436 shares in the last quarter. Lasalle Investment Management Securities LLC boosted its stake in Retail Opportunity Investments by 43.7% during the fourth quarter. Lasalle Investment Management Securities LLC now owns 3,179,277 shares of the real estate investment trust’s stock worth $44,605,000 after acquiring an additional 966,860 shares in the last quarter. Norges Bank bought a new position in Retail Opportunity Investments during the fourth quarter worth $11,328,000. Finally, Easterly Investment Partners LLC bought a new position in Retail Opportunity Investments during the first quarter worth $7,764,000. 97.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Raymond James increased their target price on shares of Retail Opportunity Investments from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Wells Fargo & Company increased their target price on shares of 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. Finally, StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.00.

Retail Opportunity Investments Stock Performance

ROIC opened at $15.97 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.07. The company’s fifty day moving average price is $14.55 and its two-hundred day moving average price is $13.20. Retail Opportunity Investments Corp. has a 1-year low of $10.98 and a 1-year high of $15.98. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 53.23, a PEG ratio of 2.01 and a beta of 1.45.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.19). Retail Opportunity Investments had a return on equity of 2.57% and a net margin of 10.40%. The business had revenue of $83.32 million for the quarter, compared to analyst estimates of $81.19 million. During the same quarter in the previous year, the company posted $0.27 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. On average, analysts expect that Retail Opportunity Investments Corp. will post 1.05 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.76%. Retail Opportunity Investments’s dividend payout ratio is currently 200.00%.

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.