Retail Opportunity Investments (NASDAQ:ROIC) Hits New 12-Month High at $15.78

Retail Opportunity Investments Corp. (NASDAQ:ROIC) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $15.78 and last traded at $15.75, with a volume of 679234 shares traded. The stock had previously closed at $15.16.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ROIC. StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. Wells Fargo & Company increased their price target on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Finally, Raymond James lifted their price objective on shares of Retail Opportunity Investments from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.00.

Retail Opportunity Investments Stock Performance

The company has a market capitalization of $2.00 billion, a PE ratio of 52.60, a PEG ratio of 2.01 and a beta of 1.45. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.07. The business has a 50 day simple moving average of $14.42 and a 200 day simple moving average of $13.16.

Retail Opportunity Investments (NASDAQ:ROIC) last released its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.19). Retail Opportunity Investments had a return on equity of 2.57% and a net margin of 10.40%. The company had revenue of $83.32 million during the quarter, compared to analyst estimates of $81.19 million. During the same quarter last year, the business earned $0.27 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities research analysts predict that Retail Opportunity Investments Corp. will post 1.05 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Friday, September 20th. Retail Opportunity Investments’s payout ratio is 200.00%.

Institutional Trading of Retail Opportunity Investments

Several large investors have recently added to or reduced their stakes in ROIC. Meeder Asset Management Inc. purchased a new position in shares of Retail Opportunity Investments in the second quarter worth about $82,000. Point72 DIFC Ltd lifted 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 acquiring an additional 3,145 shares during the period. EntryPoint Capital LLC boosted its holdings in shares of Retail Opportunity Investments by 155.8% in the 1st quarter. EntryPoint Capital LLC now owns 8,717 shares of the real estate investment trust’s stock valued at $112,000 after acquiring an additional 5,309 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Retail Opportunity Investments in the second quarter worth $114,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Retail Opportunity Investments during the first quarter worth $128,000. Hedge funds and other 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.