Brokerages Set Retail Opportunity Investments Corp. (NASDAQ:ROIC) Price Target at $15.90

Retail Opportunity Investments Corp. (NASDAQ:ROIC) has been given an average rating of “Reduce” by the seven brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $16.17.

Several research firms have recently commented on ROIC. Robert W. Baird restated a “neutral” rating and set a $17.50 price target (up from $16.00) on shares of Retail Opportunity Investments in a report on Thursday. KeyCorp downgraded Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. BMO Capital Markets lifted their target price on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research note on Friday. StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. Finally, Raymond James downgraded shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th.

Retail Opportunity Investments Stock Performance

Shares of Retail Opportunity Investments stock opened at $17.33 on Thursday. The stock has a market cap of $2.23 billion, a PE ratio of 37.67 and a beta of 1.44. Retail Opportunity Investments has a 12 month low of $11.80 and a 12 month high of $17.40. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $15.75 and a 200-day simple moving average of $14.12.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The business had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. Retail Opportunity Investments’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. On average, sell-side analysts anticipate that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, December 20th. This represents a $0.60 annualized dividend and a yield of 3.46%. Retail Opportunity Investments’s payout ratio is 130.43%.

Hedge Funds Weigh In On Retail Opportunity Investments

A number of institutional investors and hedge funds have recently bought and sold shares of ROIC. International Assets Investment Management LLC raised its holdings in Retail Opportunity Investments by 1,473.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 1,753 shares in the last quarter. Allworth Financial LP raised its stake in shares of Retail Opportunity Investments by 4,320.3% in the third quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 3,197 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Retail Opportunity Investments by 35.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 1,289 shares during the period. Meeder Asset Management Inc. bought a new stake in Retail Opportunity Investments in the 2nd quarter valued at $82,000. Finally, Point72 DIFC Ltd raised its stake in shares of Retail Opportunity Investments by 71.8% in the 2nd quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 3,145 shares in the last quarter. Institutional investors own 97.16% of the company’s stock.

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.