Retail Opportunity Investments (NASDAQ:ROIC) Given Neutral Rating at Robert W. Baird

Robert W. Baird reaffirmed their neutral rating on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research report sent to investors on Thursday morning,Benzinga reports. Robert W. Baird currently has a $17.50 price objective on the real estate investment trust’s stock, up from their previous price objective of $16.00.

Several other equities analysts have also commented on ROIC. Raymond James lowered Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Bank of America began coverage on Retail Opportunity Investments in a research note on Thursday, October 24th. They set an “underperform” rating and a $14.00 price target on the stock. Wells Fargo & Company raised their price target on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. KeyCorp lowered Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday. Finally, StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Retail Opportunity Investments presently has a consensus rating of “Hold” and a consensus target price of $16.17.

Retail Opportunity Investments Trading Up 0.1 %

ROIC stock traded up $0.01 during midday trading on Thursday, reaching $17.33. The company’s stock had a trading volume of 7,181,846 shares, compared to its average volume of 1,306,351. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a fifty day simple moving average of $15.71 and a two-hundred day simple moving average of $14.07. Retail Opportunity Investments has a 1 year low of $11.80 and a 1 year high of $17.40. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 37.67 and a beta of 1.44.

Retail Opportunity Investments (NASDAQ:ROIC) last released 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). Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The business had revenue of $83.50 million during the quarter, compared to analysts’ expectations of $82.13 million. During the same quarter in the previous year, the business earned $0.27 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts predict that Retail Opportunity Investments 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 Friday, January 10th. Shareholders of record on Friday, December 20th will be paid a $0.15 dividend. 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 dividend payout ratio (DPR) is presently 130.43%.

Hedge Funds Weigh In On Retail Opportunity Investments

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROIC. International Assets Investment Management LLC boosted its holdings in Retail Opportunity Investments by 1,473.1% in the third quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 1,753 shares in the last quarter. Allworth Financial LP boosted its holdings in 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 worth $51,000 after acquiring an additional 3,197 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 acquiring an additional 1,289 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Retail Opportunity Investments in the second quarter worth about $82,000. Finally, Point72 DIFC Ltd boosted its holdings in 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. Hedge funds and other institutional investors own 97.16% of the company’s stock.

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.