Retail Opportunity Investments Corp. (NASDAQ:ROIC) Position Cut by State Street Corp

State Street Corp lowered its position in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 1.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 7,307,812 shares of the real estate investment trust’s stock after selling 99,472 shares during the period. State Street Corp owned 5.68% of Retail Opportunity Investments worth $116,056,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. boosted its stake in Retail Opportunity Investments by 1.3% during the 3rd quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust’s stock valued at $96,072,000 after purchasing an additional 75,803 shares during the period. Federated Hermes Inc. boosted its position in shares of Retail Opportunity Investments by 2.9% during the second quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock worth $56,652,000 after buying an additional 127,799 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Retail Opportunity Investments by 3.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,300,317 shares of the real estate investment trust’s stock worth $41,023,000 after buying an additional 118,766 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Retail Opportunity Investments by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,347,118 shares of the real estate investment trust’s stock valued at $36,920,000 after acquiring an additional 85,037 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Retail Opportunity Investments by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,834,124 shares of the real estate investment trust’s stock valued at $22,798,000 after acquiring an additional 39,980 shares in the last quarter. Institutional investors and hedge funds own 97.16% of the company’s stock.

Retail Opportunity Investments Stock Performance

Retail Opportunity Investments stock opened at $17.44 on Monday. Retail Opportunity Investments Corp. has a 1 year low of $11.87 and a 1 year high of $17.52. The firm’s 50 day moving average price is $16.69 and its two-hundred day moving average price is $15.02. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 37.91 and a beta of 1.47. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92.

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

Retail Opportunity Investments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments’s payout ratio is 130.43%.

Analyst Upgrades and Downgrades

ROIC has been the topic of a number of research analyst reports. Bank of America started coverage on Retail Opportunity Investments in a report on Thursday, October 24th. They set an “underperform” rating and a $14.00 price target on the stock. KeyCorp downgraded shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Baird R W cut shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Raymond James cut Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets increased their price target on Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.