Easterly Investment Partners LLC Buys New Shares in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Easterly Investment Partners LLC bought a new stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 289,654 shares of the real estate investment trust’s stock, valued at approximately $4,556,000.

Several other hedge funds have also made changes to their positions in the stock. Centersquare Investment Management LLC raised its stake in shares of Retail Opportunity Investments by 6.5% in the first 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 acquiring an additional 571,370 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Retail Opportunity Investments by 0.8% in 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 purchasing an additional 160,068 shares in the last quarter. Lasalle Investment Management Securities LLC increased its holdings in shares of Retail Opportunity Investments by 14.8% in the first quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust’s stock valued at $46,783,000 after purchasing an additional 469,905 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Retail Opportunity Investments by 2.9% in the second quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock valued at $56,652,000 after purchasing an additional 127,799 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Retail Opportunity Investments by 6.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 277,164 shares of the real estate investment trust’s stock valued at $3,548,000 after purchasing an additional 16,845 shares in the last quarter. Institutional investors own 97.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ROIC. Robert W. Baird reissued a “neutral” rating and issued a $17.50 price target (up previously from $16.00) on shares of Retail Opportunity Investments in a report on Thursday. BMO Capital Markets raised their price target on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a report on Friday. Raymond James lowered shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Finally, KeyCorp lowered shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $16.17.

Retail Opportunity Investments Trading Up 0.1 %

Shares of NASDAQ ROIC traded up $0.01 during midday trading on Friday, reaching $17.33. 4,372,578 shares of the stock were exchanged, compared to its average volume of 1,293,405. The business has a 50-day simple moving average of $15.71 and a two-hundred day simple moving average of $14.07. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 37.70 and a beta of 1.44. Retail Opportunity Investments Corp. has a 12 month low of $11.80 and a 12 month high of $17.40. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92.

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 analysts’ consensus estimates of $0.26 by ($0.01). The firm had revenue of $83.50 million for 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 company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share. As a group, equities research analysts expect that Retail Opportunity Investments Corp. will post 1.04 EPS for the current year.

Retail Opportunity Investments Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.46%. 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.