Retail Opportunity Investments Corp (NASDAQ:ROIC) has been given a consensus recommendation of “Hold” by the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $22.17.
ROIC has been the subject of several research reports. Zacks Investment Research cut shares of Retail Opportunity Investments from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. BidaskClub cut shares of Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. KeyCorp reiterated a “hold” rating on shares of Retail Opportunity Investments in a research note on Sunday, September 24th. FBR & Co set a $23.00 target price on shares of Retail Opportunity Investments and gave the company a “hold” rating in a research note on Wednesday, October 11th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $22.00 target price on shares of Retail Opportunity Investments in a research note on Monday, October 30th.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Pinebridge Investments L.P. lifted its stake in Retail Opportunity Investments by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 14,458 shares of the real estate investment trust’s stock valued at $277,000 after acquiring an additional 201 shares during the last quarter. Amalgamated Bank lifted its stake in Retail Opportunity Investments by 2.2% in the second quarter. Amalgamated Bank now owns 14,651 shares of the real estate investment trust’s stock valued at $281,000 after acquiring an additional 312 shares during the last quarter. Shelton Capital Management lifted its stake in shares of Retail Opportunity Investments by 5.6% in the second quarter. Shelton Capital Management now owns 10,858 shares of the real estate investment trust’s stock worth $208,000 after buying an additional 579 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Retail Opportunity Investments by 2.1% in the second quarter. New York State Common Retirement Fund now owns 114,700 shares of the real estate investment trust’s stock worth $2,201,000 after buying an additional 2,399 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its stake in shares of Retail Opportunity Investments by 55.9% in the second quarter. Riverhead Capital Management LLC now owns 7,327 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 2,627 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.
Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.21). The company had revenue of $67.97 million for the quarter, compared to analyst estimates of $68.34 million. Retail Opportunity Investments had a return on equity of 2.86% and a net margin of 14.13%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.26 earnings per share. analysts predict that Retail Opportunity Investments will post 1.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th were paid a $0.188 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend was Wednesday, December 13th. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 241.94%.
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About Retail Opportunity Investments
Retail Opportunity Investments Corp. (ROIC) is a fully integrated, self-managed real estate investment trust (REIT). The Company specializes in the acquisition, ownership and management of necessity-based community and neighborhood shopping centers on the west coast of the United States, anchored by supermarkets and drugstores.
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