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

Retail Opportunity Investments Corp. (NASDAQ:ROIC) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $17.40 and last traded at $17.37, with a volume of 402825 shares. The stock had previously closed at $17.38.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Raymond James downgraded Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. KeyCorp lowered Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. StockNews.com initiated coverage on Retail Opportunity Investments in a research report on Monday. They issued a “hold” rating for the company. Bank of America assumed coverage on Retail Opportunity Investments in a research report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price objective for the company. Finally, Baird R W lowered Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat, Retail Opportunity Investments has an average rating of “Hold” and an average price target of $16.17.

Retail Opportunity Investments Price Performance

The stock has a 50-day moving average price of $16.06 and a 200 day moving average price of $14.38. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 37.78 and a beta of 1.44.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings results 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). Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The firm had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. During the same quarter in the prior year, the company earned $0.27 EPS. The business’s revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts forecast that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend 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 payout ratio is 130.43%.

Institutional Trading of Retail Opportunity Investments

A number of institutional investors and hedge funds have recently made changes to their positions in ROIC. Sei Investments Co. increased its holdings in Retail Opportunity Investments by 15.1% in the 1st quarter. Sei Investments Co. now owns 120,437 shares of the real estate investment trust’s stock valued at $1,544,000 after purchasing an additional 15,797 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Retail Opportunity Investments by 164.7% in the 1st quarter. Russell Investments Group Ltd. now owns 17,343 shares of the real estate investment trust’s stock valued at $222,000 after purchasing an additional 10,790 shares in the last quarter. ProShare Advisors LLC increased its holdings in Retail Opportunity Investments by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 24,888 shares of the real estate investment trust’s stock valued at $319,000 after purchasing an additional 1,705 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Retail Opportunity Investments by 30.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 45,895 shares of the real estate investment trust’s stock valued at $641,000 after purchasing an additional 10,741 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Retail Opportunity Investments by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust’s stock valued at $254,040,000 after acquiring an additional 160,068 shares in the last quarter. 97.16% of the stock is currently owned by institutional investors and hedge funds.

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.