Public Sector Pension Investment Board Has $4.25 Million Stock Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Public Sector Pension Investment Board cut its stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 3.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 270,448 shares of the real estate investment trust’s stock after selling 10,000 shares during the period. Public Sector Pension Investment Board’s holdings in Retail Opportunity Investments were worth $4,254,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ROIC. International Assets Investment Management LLC boosted its stake in shares of Retail Opportunity Investments by 1,473.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 1,753 shares during the last quarter. Allworth Financial LP lifted its holdings in Retail Opportunity Investments by 4,320.3% in the third quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 3,197 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Retail Opportunity Investments by 35.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock valued at $77,000 after buying an additional 1,289 shares during the period. Meeder Asset Management Inc. acquired a new stake in Retail Opportunity Investments during the 2nd quarter worth about $82,000. Finally, Point72 DIFC Ltd raised its position in shares of Retail Opportunity Investments by 71.8% in the 2nd quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 3,145 shares in the last quarter. Institutional investors and hedge funds own 97.16% of the company’s stock.

Retail Opportunity Investments Price Performance

Shares of NASDAQ ROIC opened at $17.40 on Tuesday. 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 company has a 50-day moving average price of $16.36 and a 200-day moving average price of $14.69. The stock has a market capitalization of $2.24 billion, a P/E ratio of 37.83 and a beta of 1.44. Retail Opportunity Investments Corp. has a 1 year low of $11.87 and a 1 year high of $17.44.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $83.50 million for the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. Retail Opportunity Investments’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. On average, equities research analysts forecast that Retail Opportunity Investments Corp. will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

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

Wall Street Analyst Weigh In

ROIC has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price target on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Raymond James downgraded shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. StockNews.com initiated coverage on shares of Retail Opportunity Investments in a report on Tuesday, November 26th. They issued a “hold” rating for the company. BMO Capital Markets upped their price objective 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, November 8th. Finally, Baird R W downgraded Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.17.

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.