Retail Opportunity Investments (NASDAQ:ROIC) Given New $17.50 Price Target at BMO Capital Markets

Retail Opportunity Investments (NASDAQ:ROIC) had its target price increased by BMO Capital Markets from $17.00 to $17.50 in a report issued on Friday morning,Benzinga reports. They currently have a market perform rating on the real estate investment trust’s stock.

A number of other brokerages have also recently issued reports on ROIC. Raymond James cut shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Bank of America began coverage on Retail Opportunity Investments in a report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 target price on the stock. StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. KeyCorp downgraded shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird restated a “neutral” rating and set a $17.50 price target (up from $16.00) on shares of Retail Opportunity Investments in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.17.

Retail Opportunity Investments Stock Up 0.1 %

Retail Opportunity Investments stock opened at $17.34 on Friday. The company has a market capitalization of $2.23 billion, a PE ratio of 37.70 and a beta of 1.44. Retail Opportunity Investments has a 12-month low of $11.80 and a 12-month high of $17.40. The firm’s fifty day moving average is $15.79 and its 200 day moving average is $14.17. 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 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 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 in the prior year, the company posted $0.27 EPS. As a group, sell-side analysts predict that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 130.43%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its holdings in shares of Retail Opportunity Investments by 20.4% in the second quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock worth $74,975,000 after buying an additional 1,020,314 shares in the last quarter. Centersquare Investment Management LLC lifted its stake in 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 worth $114,346,000 after purchasing an additional 571,370 shares in the last quarter. Lasalle Investment Management Securities LLC boosted its holdings in Retail Opportunity Investments by 14.8% in the 1st 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 during the period. Strategy Asset Managers LLC grew its position in shares of Retail Opportunity Investments by 57.7% during the 3rd quarter. Strategy Asset Managers LLC now owns 876,179 shares of the real estate investment trust’s stock valued at $13,782,000 after purchasing an additional 320,520 shares in the last quarter. Finally, Easterly Investment Partners LLC bought a new position in shares of Retail Opportunity Investments in the third quarter worth $4,556,000. 97.16% of the stock is currently 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.