Arizona State Retirement System Grows Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Arizona State Retirement System raised its holdings in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 2.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,555 shares of the real estate investment trust’s stock after buying an additional 927 shares during the quarter. Arizona State Retirement System’s holdings in Retail Opportunity Investments were worth $442,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Retail Opportunity Investments by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust’s stock worth $254,040,000 after buying an additional 160,068 shares in the last quarter. Centersquare Investment Management LLC grew its holdings in shares of Retail Opportunity Investments by 6.5% during the first quarter. Centersquare Investment Management LLC now owns 9,319,113 shares of the real estate investment trust’s stock worth $114,346,000 after buying an additional 571,370 shares in the last quarter. Principal Financial Group Inc. grew 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. Lasalle Investment Management Securities LLC grew its holdings in shares of Retail Opportunity Investments by 14.8% in the first quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust’s stock valued at $46,783,000 after purchasing an additional 469,905 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Retail Opportunity Investments by 3.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,300,317 shares of the real estate investment trust’s stock valued at $41,023,000 after purchasing an additional 118,766 shares during the period. Hedge funds and other institutional investors own 97.16% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Raymond James upped their price objective on shares of Retail Opportunity Investments from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, August 16th. StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. Finally, Wells Fargo & Company upped their price objective on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $15.00.

Retail Opportunity Investments Trading Down 0.3 %

NASDAQ ROIC opened at $15.93 on Tuesday. The firm’s 50-day moving average is $14.62 and its two-hundred day moving average is $13.23. Retail Opportunity Investments Corp. has a 12 month low of $10.98 and a 12 month high of $16.20. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market capitalization of $2.03 billion, a P/E ratio of 53.10, a PEG ratio of 2.01 and a beta of 1.45.

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

Retail Opportunity Investments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, September 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.77%. Retail Opportunity Investments’s dividend payout ratio is presently 200.00%.

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.