Retail Opportunity Investments (NASDAQ:ROIC) Reaches New 52-Week High – Time to Buy?

Retail Opportunity Investments Corp. (NASDAQ:ROIC)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $17.40 and last traded at $17.37, with a volume of 402825 shares changing hands. The stock had previously closed at $17.38.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ROIC. Wells Fargo & Company raised their target price 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 cut shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. StockNews.com assumed coverage on shares of Retail Opportunity Investments in a research report on Monday. They set a “hold” rating on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $17.50 price target (up previously from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday, November 7th. Finally, BMO Capital Markets raised their target price on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $16.17.

Retail Opportunity Investments Stock Down 0.1 %

The stock’s fifty day simple moving average is $16.06 and its 200-day simple moving average is $14.38. The stock has a market cap of $2.23 billion, a P/E ratio of 37.78 and a beta of 1.44. 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 released 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 business had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.27 EPS. On average, research analysts anticipate that Retail Opportunity Investments Corp. 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. Stockholders of record on Friday, December 20th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.45%. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 130.43%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System grew its position in Retail Opportunity Investments by 2.7% in the second quarter. Arizona State Retirement System now owns 35,555 shares of the real estate investment trust’s stock worth $442,000 after buying an additional 927 shares during the last quarter. Creative Planning grew its position in Retail Opportunity Investments by 6.7% during the 3rd quarter. Creative Planning now owns 18,988 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 1,194 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Retail Opportunity Investments by 35.2% during the 3rd 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 purchasing an additional 1,289 shares during the period. Van ECK Associates Corp raised its stake in Retail Opportunity Investments by 7.4% during the 2nd quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock valued at $236,000 after purchasing an additional 1,307 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in Retail Opportunity Investments by 0.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 183,780 shares of the real estate investment trust’s stock valued at $2,891,000 after purchasing an additional 1,400 shares during the period. Institutional investors and hedge funds own 97.16% of the company’s stock.

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.