Retail Opportunity Investments (NASDAQ:ROIC) Price Target Raised to $17.50 at BMO Capital Markets

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 firm currently has a market perform rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued reports about the stock. 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 report on Thursday, November 7th. Baird R W cut Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. KeyCorp downgraded Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Wells Fargo & Company upped their price objective on 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. Finally, StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Retail Opportunity Investments currently has an average rating of “Hold” and an average target price of $16.17.

Retail Opportunity Investments Stock Performance

NASDAQ ROIC opened at $17.34 on Friday. The firm has a 50-day moving average price of $15.79 and a two-hundred day moving average price of $14.17. Retail Opportunity Investments has a 12-month low of $11.80 and a 12-month high of $17.40. The company has a market capitalization of $2.23 billion, a P/E ratio of 37.70 and a beta of 1.44. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $83.50 million for the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 EPS. Analysts anticipate that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a $0.15 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a yield of 3.46%. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 130.43%.

Institutional Trading of Retail Opportunity Investments

Several institutional investors have recently modified their holdings of ROIC. Vanguard Group Inc. grew its position in shares of Retail Opportunity Investments by 0.8% in the 1st 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. Centersquare Investment Management LLC increased its position in Retail Opportunity Investments by 6.5% during the 1st quarter. Centersquare Investment Management LLC now owns 9,319,113 shares of the real estate investment trust’s stock valued at $114,346,000 after purchasing an additional 571,370 shares during the period. Principal Financial Group Inc. raised its holdings in Retail Opportunity Investments by 1.3% during the 3rd quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust’s stock worth $96,072,000 after purchasing an additional 75,803 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Retail Opportunity Investments by 2.9% in 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 purchasing an additional 127,799 shares during the period. Finally, Lasalle Investment Management Securities LLC increased its position in shares of Retail Opportunity Investments by 14.8% during the first 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 during the period. Institutional investors own 97.16% of the company’s stock.

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.