Retail Opportunity Investments (NASDAQ:ROIC) Reaches New 1-Year High – Time to Buy?

Retail Opportunity Investments Corp. (NASDAQ:ROIC)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $17.40 and last traded at $17.37, with a volume of 402825 shares traded. The stock had previously closed at $17.38.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ROIC shares. Baird R W cut shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Wells Fargo & Company lifted 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. Robert W. Baird restated a “neutral” rating and issued a $17.50 target price (up from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. KeyCorp cut Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Finally, Raymond James lowered 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 assigned a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $16.17.

Retail Opportunity Investments Trading Down 0.1 %

The company has a 50 day moving average of $16.14 and a 200 day moving average of $14.42. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 37.78 and a beta of 1.44. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its earnings results 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 firm had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 EPS. As a group, research analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 EPS 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 paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio (DPR) is currently 130.43%.

Institutional Investors Weigh In On Retail Opportunity Investments

A number of large investors have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its stake 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 purchasing an additional 1,753 shares in the last quarter. Vanguard Group Inc. raised its holdings 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 valued at $254,040,000 after buying an additional 160,068 shares during the last quarter. Lasalle Investment Management Securities LLC lifted its position in Retail Opportunity Investments by 14.8% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust’s stock worth $46,783,000 after buying an additional 469,905 shares in the last quarter. Federated Hermes Inc. grew its holdings in Retail Opportunity Investments by 2.9% during the 2nd quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock worth $56,652,000 after acquiring an additional 127,799 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Retail Opportunity Investments by 1.3% in the 3rd quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust’s stock valued at $96,072,000 after acquiring an additional 75,803 shares in the last quarter. 97.16% of the stock is currently owned by institutional investors.

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.