Retail Opportunity Investments (NASDAQ:ROIC) Reaches New 52-Week High – Time to Buy?

Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) reached a new 52-week high on Monday . The company traded as high as $16.94 and last traded at $16.94, with a volume of 12373 shares. The stock had previously closed at $15.59.

Analysts Set New Price Targets

A number of analysts have commented on ROIC shares. StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. KeyCorp downgraded Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday. Raymond James lowered shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Bank of America started coverage on shares of Retail Opportunity Investments in a report on Thursday, October 24th. They set an “underperform” rating and a $14.00 price target on the stock. Finally, Wells Fargo & Company lifted their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, Retail Opportunity Investments presently has a consensus rating of “Hold” and a consensus price target of $15.50.

Retail Opportunity Investments Stock Down 1.3 %

The stock’s fifty day moving average is $15.64 and its two-hundred day moving average is $14.03. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04. The firm has a market cap of $2.13 billion, a P/E ratio of 36.07 and a beta of 1.44.

Retail Opportunity Investments (NASDAQ:ROIC) last issued 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). The business had revenue of $83.50 million for the quarter, compared to the consensus estimate 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 was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 earnings per share. As a group, research analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio is presently 130.43%.

Institutional Investors Weigh In On Retail Opportunity Investments

A number of institutional investors have recently modified their holdings of ROIC. International Assets Investment Management LLC grew its holdings in shares of 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 acquiring an additional 1,753 shares during the period. Allworth Financial LP raised its stake in shares of Retail Opportunity Investments by 4,320.3% in the third quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 3,197 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Retail Opportunity Investments by 35.2% during the 3rd 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 buying an additional 1,289 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Retail Opportunity Investments in the 2nd quarter worth approximately $82,000. Finally, Point72 DIFC Ltd lifted its holdings in Retail Opportunity Investments by 71.8% during the second 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 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.