Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 17.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 101,725 shares of the real estate investment trust’s stock after buying an additional 15,298 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.08% of Retail Opportunity Investments worth $1,427,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. abrdn plc lifted its position in Retail Opportunity Investments by 4.1% during the third quarter. abrdn plc now owns 24,899 shares of the real estate investment trust’s stock worth $308,000 after buying an additional 992 shares in the last quarter. Inspire Investing LLC raised its position in Retail Opportunity Investments by 4.6% in the third quarter. Inspire Investing LLC now owns 24,609 shares of the real estate investment trust’s stock valued at $305,000 after purchasing an additional 1,093 shares during the period. Sequoia Financial Advisors LLC raised its position in Retail Opportunity Investments by 10.6% in the third quarter. Sequoia Financial Advisors LLC now owns 14,176 shares of the real estate investment trust’s stock valued at $175,000 after purchasing an additional 1,358 shares during the period. Daiwa Securities Group Inc. raised its position in Retail Opportunity Investments by 3.8% in the third quarter. Daiwa Securities Group Inc. now owns 40,240 shares of the real estate investment trust’s stock valued at $498,000 after purchasing an additional 1,477 shares during the period. Finally, UniSuper Management Pty Ltd raised its position in Retail Opportunity Investments by 4.4% in the third quarter. UniSuper Management Pty Ltd now owns 35,400 shares of the real estate investment trust’s stock valued at $438,000 after purchasing an additional 1,500 shares during the period. Hedge funds and other institutional investors own 97.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ROIC shares. KeyCorp upgraded Retail Opportunity Investments from a “sector weight” rating to an “overweight” rating and set a $16.00 target price on the stock in a research report on Friday, January 5th. Bank of America restated an “underperform” rating and issued a $12.00 target price (down previously from $14.50) on shares of Retail Opportunity Investments in a research report on Friday, April 5th. Finally, StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Retail Opportunity Investments currently has a consensus rating of “Hold” and an average price target of $14.75.

Retail Opportunity Investments Price Performance

ROIC stock opened at $12.36 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $1.58 billion, a PE ratio of 41.20 and a beta of 1.42. Retail Opportunity Investments Corp. has a 12-month low of $10.98 and a 12-month high of $15.16. The business’s fifty day moving average price is $12.65 and its 200 day moving average price is $12.92.

Retail Opportunity Investments (NASDAQ:ROIC) last released its earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.21). Retail Opportunity Investments had a return on equity of 2.74% and a net margin of 11.21%. The company had revenue of $84.60 million for the quarter, compared to analyst estimates of $81.09 million. During the same period in the previous year, the firm earned $0.27 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 EPS for the current year.

Retail Opportunity Investments Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, June 14th. This represents a $0.60 annualized dividend and a yield of 4.85%. Retail Opportunity Investments’s payout ratio is 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.