Retail Opportunity Investments Corp. (NASDAQ:ROIC) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) have received a consensus recommendation of “Reduce” from the seven analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $16.17.

ROIC has been the subject of several recent analyst reports. BMO Capital Markets boosted 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, November 8th. KeyCorp cut shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. Bank of America assumed coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They set an “underperform” rating and a $14.00 price objective on the stock. Baird R W lowered shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Raymond James cut Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ROIC. International Assets Investment Management LLC boosted its holdings in Retail Opportunity Investments by 1,473.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 1,753 shares during the period. Allworth Financial LP boosted its stake in shares of Retail Opportunity Investments by 4,320.3% during the third quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 3,197 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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 purchasing an additional 1,289 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Retail Opportunity Investments in the second quarter worth $82,000. Finally, Point72 DIFC Ltd increased its stake 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 buying an additional 3,145 shares during the period. 97.16% of the stock is owned by institutional investors.

Retail Opportunity Investments Stock Down 0.1 %

Shares of NASDAQ ROIC opened at $17.44 on Monday. The business has a 50-day simple moving average of $16.50 and a two-hundred day simple moving average of $14.79. Retail Opportunity Investments has a 52 week low of $11.87 and a 52 week high of $17.52. The company has a market cap of $2.24 billion, a P/E ratio of 37.91 and a beta of 1.47. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04.

Retail Opportunity Investments (NASDAQ:ROIC) last posted 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 firm had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. During the same period last year, the company posted $0.27 EPS. The business’s revenue was up 2.5% on a year-over-year basis. Research analysts anticipate that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The firm also recently declared 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. This represents a $0.60 annualized dividend and a yield of 3.44%. The ex-dividend date is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio is presently 130.43%.

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.