Retail Opportunity Investments Corp. (NASDAQ:ROIC) Receives $16.17 Consensus Price Target from Analysts

Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) have been assigned a consensus recommendation of “Reduce” from the seven ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $16.17.

A number of analysts have recently commented on the stock. Raymond James cut shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. StockNews.com began coverage on Retail Opportunity Investments in a report on Saturday, December 28th. They set a “hold” rating for the company. Baird R W downgraded Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird reiterated a “neutral” rating and set a $17.50 price target (up from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday, November 7th. Finally, KeyCorp lowered Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th.

Retail Opportunity Investments Price Performance

NASDAQ ROIC opened at $17.36 on Friday. Retail Opportunity Investments has a 1 year low of $11.87 and a 1 year high of $17.52. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 37.74 and a beta of 1.47. 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 stock’s fifty day moving average price is $17.14 and its 200 day moving average price is $15.46.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The company had revenue of $83.50 million for the quarter, compared to analysts’ expectations of $82.13 million. During the same quarter in the prior year, the business posted $0.27 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts forecast that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio is presently 130.43%.

Institutional Trading of Retail Opportunity Investments

Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in Retail Opportunity Investments by 20.4% during the 2nd quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock worth $74,975,000 after buying an additional 1,020,314 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Retail Opportunity Investments by 296.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 952,252 shares of the real estate investment trust’s stock valued at $14,979,000 after acquiring an additional 711,835 shares during the last quarter. Strategy Asset Managers LLC raised its position in shares of Retail Opportunity Investments by 57.7% during the 3rd quarter. Strategy Asset Managers LLC now owns 876,179 shares of the real estate investment trust’s stock worth $13,782,000 after acquiring an additional 320,520 shares in the last quarter. Easterly Investment Partners LLC purchased a new stake in Retail Opportunity Investments during the third quarter worth approximately $4,556,000. Finally, Barclays PLC boosted its holdings in Retail Opportunity Investments by 316.7% in the third quarter. Barclays PLC now owns 211,816 shares of the real estate investment trust’s stock valued at $3,331,000 after purchasing an additional 160,981 shares in the last quarter. Institutional investors and hedge funds 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.