Phocas Financial Corp. Lowers Holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Phocas Financial Corp. reduced its stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 8.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 474,003 shares of the real estate investment trust’s stock after selling 45,452 shares during the period. Phocas Financial Corp. owned approximately 0.37% of Retail Opportunity Investments worth $7,456,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Metis Global Partners LLC bought a new stake in shares of Retail Opportunity Investments during the third quarter valued at approximately $206,000. GSA Capital Partners LLP purchased a new position in shares of Retail Opportunity Investments in the third quarter worth $775,000. Easterly Investment Partners LLC bought a new position in shares of Retail Opportunity Investments during the third quarter valued at $4,556,000. Principal Financial Group Inc. boosted its position in shares of Retail Opportunity Investments by 1.3% during the third 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 buying an additional 75,803 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Retail Opportunity Investments by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 21,302 shares of the real estate investment trust’s stock worth $338,000 after buying an additional 2,338 shares in the last quarter. 97.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ROIC shares. Robert W. Baird reaffirmed a “neutral” rating and set a $17.50 price target (up previously from $16.00) on shares of Retail Opportunity Investments in a report on Thursday, November 7th. StockNews.com began coverage on shares of Retail Opportunity Investments in a research report on Monday. They issued a “hold” rating for the company. Bank of America initiated coverage on Retail Opportunity Investments in a report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price objective for the company. Wells Fargo & Company increased their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Finally, KeyCorp downgraded Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.17.

Retail Opportunity Investments Stock Up 0.1 %

ROIC opened at $17.37 on Tuesday. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 37.76 and a beta of 1.44. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92. The firm’s fifty day moving average is $15.97 and its 200 day moving average is $14.31. Retail Opportunity Investments Corp. has a fifty-two week low of $11.87 and a fifty-two week high of $17.40.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The business had revenue of $83.50 million during the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the company earned $0.27 EPS. On average, sell-side analysts forecast that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.45%. Retail Opportunity Investments’s dividend payout ratio is 130.43%.

Retail Opportunity Investments 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.