Principal Financial Group Inc. Buys 75,803 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Principal Financial Group Inc. grew its stake in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,107,593 shares of the real estate investment trust’s stock after buying an additional 75,803 shares during the period. Principal Financial Group Inc.’s holdings in Retail Opportunity Investments were worth $96,072,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ROIC. Centersquare Investment Management LLC lifted its stake in Retail Opportunity Investments by 6.5% in the 1st quarter. Centersquare Investment Management LLC now owns 9,319,113 shares of the real estate investment trust’s stock worth $114,346,000 after purchasing an additional 571,370 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Retail Opportunity Investments by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust’s stock worth $254,040,000 after buying an additional 160,068 shares in the last quarter. Lasalle Investment Management Securities LLC boosted its stake in Retail Opportunity Investments by 14.8% during the first quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust’s stock valued at $46,783,000 after buying an additional 469,905 shares during the period. Federated Hermes Inc. grew its position in 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 in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in Retail Opportunity Investments by 6.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 277,164 shares of the real estate investment trust’s stock worth $3,548,000 after acquiring an additional 16,845 shares during the last quarter. 97.16% of the stock is currently owned by institutional investors.

Retail Opportunity Investments Price Performance

Shares of NASDAQ:ROIC opened at $17.33 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. The stock has a market cap of $2.23 billion, a PE ratio of 37.67 and a beta of 1.44. The company’s fifty day moving average is $15.75 and its 200 day moving average is $14.11. Retail Opportunity Investments Corp. has a 52 week low of $11.80 and a 52 week high of $17.40.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $83.50 million during the quarter, compared to analysts’ expectations of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 EPS. Research analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders 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 3.46%. The ex-dividend date is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio is 130.43%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Bank of America started coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price objective on the stock. Robert W. Baird reissued a “neutral” rating and issued a $17.50 price target (up previously from $16.00) on shares of Retail Opportunity Investments in a report on Thursday. Raymond James downgraded shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Baird R W downgraded Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Finally, BMO Capital Markets upped their price objective on Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.