Retail Opportunity Investments (NASDAQ:ROIC) Hits New 52-Week High – Here’s What Happened

Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $16.22 and last traded at $16.21, with a volume of 84497 shares trading hands. The stock had previously closed at $16.07.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ROIC. Raymond James boosted their price target on shares of Retail Opportunity Investments from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, August 16th. StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Wells Fargo & Company boosted their price objective on 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Retail Opportunity Investments currently has an average rating of “Hold” and a consensus price target of $15.00.

Retail Opportunity Investments Stock Up 0.6 %

The stock has a market cap of $2.06 billion, a P/E ratio of 53.87, a price-to-earnings-growth ratio of 2.07 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. The stock’s 50-day moving average is $15.50 and its 200-day moving average is $13.72.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.19). The company had revenue of $83.32 million during the quarter, compared to the consensus estimate of $81.19 million. Retail Opportunity Investments had a net margin of 10.40% and a return on equity of 2.57%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business earned $0.27 earnings per share. As a group, research analysts anticipate that Retail Opportunity Investments Corp. will post 1.05 earnings per share for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 20th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, September 20th. This represents a $0.60 annualized dividend and a yield of 3.71%. Retail Opportunity Investments’s dividend payout ratio is currently 200.00%.

Institutional Investors Weigh In On Retail Opportunity Investments

Several hedge funds and other institutional investors have recently bought and sold shares of ROIC. Meeder Asset Management Inc. acquired a new position in shares of Retail Opportunity Investments in the 2nd quarter worth approximately $82,000. Point72 DIFC Ltd increased its position in shares of Retail Opportunity Investments by 71.8% in the second quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 3,145 shares in the last quarter. EntryPoint Capital LLC boosted its stake in Retail Opportunity Investments by 155.8% in the 1st 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 position in Retail Opportunity Investments during the 2nd quarter worth approximately $114,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Retail Opportunity Investments in the first quarter worth $128,000. 97.16% of the stock is currently owned by institutional investors.

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.