Retail Opportunity Investments (NASDAQ:ROIC) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Retail Opportunity Investments (NASDAQ:ROIC) had its price objective upped by BMO Capital Markets from $17.00 to $17.50 in a report published on Friday,Benzinga reports. The brokerage currently has a market perform rating on the real estate investment trust’s stock.

A number of other analysts have also commented on the company. 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 report on Wednesday, August 28th. KeyCorp downgraded Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday. 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 shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $17.50 price objective (up from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday. One 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 presently has an average rating of “Hold” and a consensus price target of $16.17.

Retail Opportunity Investments Stock Up 0.1 %

Retail Opportunity Investments stock traded up $0.01 during mid-day trading on Friday, reaching $17.33. The stock had a trading volume of 7,181,846 shares, compared to its average volume of 2,449,443. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92. Retail Opportunity Investments has a fifty-two week low of $11.80 and a fifty-two week high of $17.40. The stock’s 50-day simple moving average is $15.75 and its 200-day simple moving average is $14.11. The firm has a market capitalization of $2.23 billion, a PE ratio of 37.67 and a beta of 1.44.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS 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 business had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. During the same quarter last year, the firm posted $0.27 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, sell-side analysts forecast that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

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

Institutional Trading of Retail Opportunity Investments

Institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC increased its position in shares of Retail Opportunity Investments by 1,473.1% during 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 buying an additional 1,753 shares during the period. Allworth Financial LP lifted its position 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 holdings 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 valued at $77,000 after purchasing an additional 1,289 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Retail Opportunity Investments during the second quarter valued at $82,000. Finally, Point72 DIFC Ltd increased its stake in Retail Opportunity Investments by 71.8% during the 2nd 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. 97.16% of the stock is currently owned by hedge funds and other institutional investors.

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.