Retail Opportunity Investments (NASDAQ:ROIC) Cut to “Market Perform” at Raymond James

Raymond James lowered shares of Retail Opportunity Investments (NASDAQ:ROIC) from an outperform rating to a market perform rating in a report released on Wednesday, Marketbeat Ratings reports.

Other research analysts also recently issued research reports about the stock. Bank of America started coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They set an “underperform” rating and a $14.00 price target for the company. Wells Fargo & Company upped their price target 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. Finally, StockNews.com upgraded shares of 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, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $15.50.

Retail Opportunity Investments Stock Performance

Shares of NASDAQ:ROIC opened at $15.59 on Wednesday. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 33.89 and a beta of 1.45. Retail Opportunity Investments has a 52 week low of $11.80 and a 52 week high of $16.27. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04. The firm has a 50 day moving average of $15.59 and a 200 day moving average of $13.92.

Retail Opportunity Investments (NASDAQ:ROIC) last announced 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). 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 period last year, the firm earned $0.27 earnings per share. Retail Opportunity Investments’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts predict that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

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 $0.15 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.85%. Retail Opportunity Investments’s payout ratio is 130.43%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC raised its position in Retail Opportunity Investments by 1,473.1% during 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 last quarter. Allworth Financial LP grew its stake in Retail Opportunity Investments by 4,320.3% during 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. grew its stake in Retail Opportunity Investments by 35.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock worth $77,000 after buying an additional 1,289 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Retail Opportunity Investments in the second quarter valued at $82,000. Finally, Point72 DIFC Ltd boosted its stake in shares of Retail Opportunity Investments by 71.8% in 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 during the period. 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.