Retail Opportunity Investments (NASDAQ:ROIC) Lowered to Hold Rating by Baird R W

Baird R W downgraded shares of Retail Opportunity Investments (NASDAQ:ROIC) from a strong-buy rating to a hold rating in a report issued on Thursday,Zacks.com reports.

ROIC has been the subject of several other reports. Bank of America initiated coverage on Retail Opportunity Investments in a report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 target price for the company. KeyCorp downgraded Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. Robert W. Baird restated a “neutral” rating and set a $17.50 price target (up previously from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday. Finally, Raymond James downgraded shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.17.

Retail Opportunity Investments Price Performance

Shares of NASDAQ:ROIC opened at $17.33 on Thursday. Retail Opportunity Investments has a 1-year low of $11.80 and a 1-year high of $17.40. The company has a current ratio of 1.92, a quick 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 stock’s fifty day simple moving average is $15.75 and its two-hundred day simple moving average is $14.12.

Retail Opportunity Investments (NASDAQ:ROIC) last released 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). Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The firm had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. During the same period in the previous year, the business earned $0.27 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, analysts forecast that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio (DPR) is currently 130.43%.

Hedge Funds Weigh In On Retail Opportunity Investments

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROIC. International Assets Investment Management LLC raised its position in shares of 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 valued at $29,000 after purchasing an additional 1,753 shares during the period. Allworth Financial LP raised its holdings in Retail Opportunity Investments by 4,320.3% during the 3rd quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 3,197 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Retail Opportunity Investments by 35.2% during 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. purchased a new stake in shares of Retail Opportunity Investments during the second quarter worth $82,000. Finally, Point72 DIFC Ltd grew 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 valued at $94,000 after purchasing an additional 3,145 shares in the last quarter. Institutional investors own 97.16% of the company’s stock.

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.