Retail Opportunity Investments (NASDAQ:ROIC) Downgraded to “Hold” Rating by Baird R W

Baird R W lowered shares of Retail Opportunity Investments (NASDAQ:ROIC) from a strong-buy rating to a hold rating in a research report report published on Thursday,Zacks.com reports.

A number of other brokerages also recently weighed in on ROIC. Bank of America began coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They set an “underperform” rating and a $14.00 target price for the company. Wells Fargo & Company raised their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. 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 upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. Finally, KeyCorp downgraded shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.17.

Retail Opportunity Investments Stock Up 0.1 %

Shares of ROIC traded up $0.01 during trading hours on Thursday, reaching $17.33. 5,458,563 shares of the stock traded hands, compared to its average volume of 1,298,410. Retail Opportunity Investments has a 52 week low of $11.80 and a 52 week high of $17.40. The stock has a fifty day simple moving average of $15.71 and a 200 day simple moving average of $14.07. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 37.67 and a beta of 1.44. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04.

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 the consensus estimate of $0.26 by ($0.01). The firm had revenue of $83.50 million during the quarter, compared to analysts’ expectations 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 was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $0.27 EPS. On average, equities analysts forecast that Retail Opportunity Investments will post 1.04 EPS for the current year.

Retail Opportunity Investments Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ROIC. Centersquare Investment Management LLC raised its stake in Retail Opportunity Investments by 6.5% during 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 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 1st 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 boosted its holdings in Retail Opportunity Investments by 14.8% during the first quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust’s stock worth $46,783,000 after buying an additional 469,905 shares in the last quarter. Federated Hermes Inc. grew its position in Retail Opportunity Investments by 2.9% during 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 buying an additional 127,799 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its holdings in 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 buying an additional 16,845 shares in the last quarter. 97.16% of the stock is owned by institutional investors and hedge funds.

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.