Retail Opportunity Investments Corp. (NASDAQ:ROIC) Receives Average Rating of “Reduce” from Brokerages

Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) have earned a consensus recommendation of “Reduce” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $16.17.

Several equities research analysts have recently weighed in on the company. StockNews.com began coverage on Retail Opportunity Investments in a research report on Saturday. They issued a “hold” rating for the company. Robert W. Baird restated a “neutral” rating and issued a $17.50 price target (up from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday, November 7th. KeyCorp lowered shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Bank of America assumed coverage on Retail Opportunity Investments in a research report on Thursday, October 24th. They set an “underperform” rating and a $14.00 target price on the stock. Finally, BMO Capital Markets upped their price target on Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a report on Friday, November 8th.

Retail Opportunity Investments Trading Down 0.1 %

Retail Opportunity Investments stock opened at $17.36 on Friday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04. Retail Opportunity Investments has a 12 month low of $11.87 and a 12 month high of $17.52. The company’s fifty day simple moving average is $17.08 and its 200-day simple moving average is $15.43. The stock has a market cap of $2.23 billion, a P/E ratio of 37.74 and a beta of 1.47.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly 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 company had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. Retail Opportunity Investments’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS. As a group, sell-side analysts forecast that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

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

Institutional Investors Weigh In On Retail Opportunity Investments

Several large investors have recently modified their holdings of ROIC. Principal Financial Group Inc. grew its position in Retail Opportunity Investments by 1.3% in the third 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 acquiring an additional 75,803 shares during the period. Federated Hermes Inc. grew its holdings in shares of Retail Opportunity Investments by 2.9% in the 2nd quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock worth $56,652,000 after purchasing an additional 127,799 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Retail Opportunity Investments by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,290,973 shares of the real estate investment trust’s stock worth $51,776,000 after purchasing an additional 24,421 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Retail Opportunity Investments by 3.8% during 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 purchasing an additional 85,037 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Retail Opportunity Investments by 2.2% in the second 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 buying an additional 39,980 shares in the last quarter. 97.16% of the stock is currently owned by institutional investors.

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.