Phocas Financial Corp. Sells 45,452 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Phocas Financial Corp. lowered its stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 8.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 474,003 shares of the real estate investment trust’s stock after selling 45,452 shares during the period. Phocas Financial Corp.’s holdings in Retail Opportunity Investments were worth $7,456,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings 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 worth $29,000 after acquiring an additional 1,753 shares during the last quarter. Allworth Financial LP lifted its stake 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 worth $51,000 after purchasing an additional 3,197 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Retail Opportunity Investments by 35.2% during 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. bought a new position in shares of Retail Opportunity Investments during the second quarter valued at approximately $82,000. Finally, Point72 DIFC Ltd lifted its stake in shares of Retail Opportunity Investments by 71.8% during 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 during the last quarter. 97.16% of the stock is owned by institutional investors.

Retail Opportunity Investments Stock Up 0.1 %

NASDAQ:ROIC opened at $17.37 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market capitalization of $2.23 billion, a P/E ratio of 37.76 and a beta of 1.44. The company’s 50-day simple moving average is $15.97 and its 200-day simple moving average is $14.31. Retail Opportunity Investments Corp. has a fifty-two week low of $11.87 and a fifty-two week high of $17.40.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The business had revenue of $83.50 million for the quarter, compared to analysts’ expectations of $82.13 million. During the same quarter in the prior year, the company posted $0.27 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The business 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 $0.15 dividend. This represents a $0.60 annualized dividend and a dividend 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 a number of recent analyst reports. Wells Fargo & Company increased their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Baird R W downgraded shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America began coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price objective for the company. KeyCorp lowered Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Finally, Raymond James lowered Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.