Retail Opportunity Investments (NASDAQ:ROIC) Downgraded to Sector Weight Rating by KeyCorp

KeyCorp downgraded shares of Retail Opportunity Investments (NASDAQ:ROIC) from an overweight rating to a sector weight rating in a research report sent to investors on Tuesday, MarketBeat.com reports. KeyCorp also issued estimates for Retail Opportunity Investments’ Q4 2024 earnings at $0.25 EPS, FY2024 earnings at $1.04 EPS, Q1 2025 earnings at $0.25 EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at $0.27 EPS, Q4 2025 earnings at $0.27 EPS and FY2025 earnings at $1.06 EPS.

A number of other brokerages have also recently weighed in on ROIC. Raymond James cut shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. 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. StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Wells Fargo & Company upped their target price on 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. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $16.17.

Retail Opportunity Investments Stock Up 0.1 %

Shares of ROIC opened at $17.33 on Tuesday. Retail Opportunity Investments has a fifty-two week low of $11.80 and a fifty-two week high of $17.40. The company’s fifty day moving average is $15.75 and its two-hundred day moving average is $14.11. The firm has a market cap of $2.23 billion, a PE ratio of 37.67 and a beta of 1.44. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04.

Retail Opportunity Investments (NASDAQ:ROIC) last posted 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 firm had revenue of $83.50 million for the quarter, compared to analysts’ expectations 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 was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.27 EPS. Analysts forecast that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend 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 (DPR) is 130.43%.

Hedge Funds Weigh In On Retail Opportunity Investments

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake 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 worth $254,040,000 after buying an additional 160,068 shares during the last quarter. Centersquare Investment Management LLC raised its stake in shares of Retail Opportunity Investments by 6.5% in the 1st 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 purchasing an additional 571,370 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Retail Opportunity Investments by 1.3% during the third quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust’s stock worth $96,072,000 after purchasing an additional 75,803 shares during the last quarter. Federated Hermes Inc. grew its stake in 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 worth $56,652,000 after purchasing an additional 127,799 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC increased its holdings in 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 buying an additional 469,905 shares during the last quarter. 97.16% of the stock is owned by institutional investors and hedge funds.

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.