Mackenzie Financial Corp Takes Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Mackenzie Financial Corp acquired a new position in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,370 shares of the real estate investment trust’s stock, valued at approximately $166,000.

Several other large investors have also added to or reduced their stakes in ROIC. Meeder Asset Management Inc. purchased a new position in Retail Opportunity Investments during the second quarter valued at approximately $82,000. Point72 DIFC Ltd grew its position in shares of Retail Opportunity Investments by 71.8% during the 2nd quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 3,145 shares in the last quarter. EntryPoint Capital LLC increased its holdings in shares of Retail Opportunity Investments by 155.8% in the first quarter. EntryPoint Capital LLC now owns 8,717 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 5,309 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Retail Opportunity Investments in the second quarter worth $114,000. Finally, Lazard Asset Management LLC bought a new stake in Retail Opportunity Investments during the first quarter valued at $128,000. Institutional investors own 97.16% of the company’s stock.

Wall Street Analyst Weigh In

ROIC has been the topic of a number of recent analyst reports. Raymond James raised their target price on shares of Retail Opportunity Investments from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Wells Fargo & Company upped 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 report on Wednesday, August 28th. Finally, StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.00.

Retail Opportunity Investments Stock Performance

Shares of ROIC stock opened at $15.41 on Tuesday. The company’s fifty day moving average price is $15.40 and its 200-day moving average price is $13.53. The stock has a market cap of $1.96 billion, a PE ratio of 51.37, a price-to-earnings-growth ratio of 2.10 and a beta of 1.45. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.07. Retail Opportunity Investments Corp. has a 12 month low of $10.98 and a 12 month high of $16.20.

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

Retail Opportunity Investments Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 20th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Friday, September 20th. Retail Opportunity Investments’s dividend payout ratio is currently 200.00%.

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.