Principal Financial Group Inc. Buys 75,803 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Principal Financial Group Inc. increased its stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,107,593 shares of the real estate investment trust’s stock after acquiring an additional 75,803 shares during the period. Principal Financial Group Inc. owned about 4.75% of Retail Opportunity Investments worth $96,072,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ROIC. Louisiana State Employees Retirement System boosted its stake in shares of Retail Opportunity Investments by 2.7% during the second quarter. Louisiana State Employees Retirement System now owns 64,100 shares of the real estate investment trust’s stock valued at $797,000 after purchasing an additional 1,700 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Retail Opportunity Investments by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 1,306,866 shares of the real estate investment trust’s stock worth $16,244,000 after purchasing an additional 13,883 shares during the period. Van ECK Associates Corp grew its stake in shares of Retail Opportunity Investments by 7.4% in the second quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock worth $236,000 after purchasing an additional 1,307 shares during the last quarter. Rhumbline Advisers raised its position in Retail Opportunity Investments by 1.1% during the 2nd quarter. Rhumbline Advisers now owns 428,775 shares of the real estate investment trust’s stock valued at $5,330,000 after purchasing an additional 4,718 shares during the last quarter. Finally, Wolverine Asset Management LLC grew its position in shares of Retail Opportunity Investments by 130.6% in the 2nd quarter. Wolverine Asset Management LLC now owns 206,218 shares of the real estate investment trust’s stock worth $2,563,000 after buying an additional 116,797 shares during the last quarter. 97.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on ROIC. StockNews.com began coverage on Retail Opportunity Investments in a report on Friday. They set a “hold” rating for the company. Baird R W lowered shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. BMO Capital Markets lifted their price objective on Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research report on Friday, November 8th. KeyCorp lowered Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company upped their price target 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. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, Retail Opportunity Investments currently has a consensus rating of “Hold” and an average price target of $16.17.

Retail Opportunity Investments Stock Down 0.5 %

ROIC stock opened at $17.31 on Friday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04. The business has a 50 day moving average of $16.88 and a 200 day moving average of $15.15. Retail Opportunity Investments Corp. has a twelve month low of $11.87 and a twelve month high of $17.52. The firm has a market cap of $2.23 billion, a PE ratio of 37.63 and a beta of 1.47.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings data 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 firm 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 firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 earnings per share. On average, research analysts forecast that Retail Opportunity Investments Corp. will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio is currently 130.43%.

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.