Retail Opportunity Investments (NASDAQ:ROIC) Hits New 1-Year High at $15.75

Retail Opportunity Investments Corp. (NASDAQ:ROIC)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $15.75 and last traded at $15.71, with a volume of 548227 shares. The stock had previously closed at $15.70.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ROIC. StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. Wells Fargo & Company boosted their price objective on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Raymond James upped their price target on Retail Opportunity Investments from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.00.

Retail Opportunity Investments Stock Down 0.9 %

The company has a debt-to-equity ratio of 1.07, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $1.98 billion, a PE ratio of 51.70, a price-to-earnings-growth ratio of 2.01 and a beta of 1.45. The company has a fifty day moving average price of $13.91 and a 200 day moving average price of $13.03.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.19). The company had revenue of $83.32 million for the quarter, compared to analysts’ expectations of $81.19 million. Retail Opportunity Investments had a net margin of 10.40% and a return on equity of 2.57%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the company posted $0.27 EPS. As a group, analysts anticipate that Retail Opportunity Investments Corp. will post 1.05 EPS for the current year.

Retail Opportunity Investments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date is Friday, September 20th. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 200.00%.

Hedge Funds Weigh In On Retail Opportunity Investments

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Inspire Investing LLC raised its holdings in shares of Retail Opportunity Investments by 3.1% during the first quarter. Inspire Investing LLC now owns 28,070 shares of the real estate investment trust’s stock valued at $360,000 after acquiring an additional 856 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Retail Opportunity Investments by 2.7% during the second quarter. Arizona State Retirement System now owns 35,555 shares of the real estate investment trust’s stock valued at $442,000 after acquiring an additional 927 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Retail Opportunity Investments by 7.4% during the second quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock valued at $236,000 after acquiring an additional 1,307 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Retail Opportunity Investments by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 110,276 shares of the real estate investment trust’s stock valued at $1,414,000 after acquiring an additional 1,476 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in Retail Opportunity Investments by 2.7% in the second quarter. Louisiana State Employees Retirement System now owns 64,100 shares of the real estate investment trust’s stock worth $797,000 after purchasing an additional 1,700 shares in the last quarter. Institutional investors own 97.16% of the company’s stock.

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.