BlackRock Inc. raised its position in shares of Retail Opportunity Investments Corp (NASDAQ:ROIC) by 9.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,207,417 shares of the real estate investment trust’s stock after purchasing an additional 1,735,231 shares during the quarter. BlackRock Inc. owned 17.03% of Retail Opportunity Investments worth $368,014,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Ceredex Value Advisors LLC bought a new position in shares of Retail Opportunity Investments during the 1st quarter valued at approximately $94,643,000. First Foundation Advisors grew its stake in shares of Retail Opportunity Investments by 31.0% during the 1st quarter. First Foundation Advisors now owns 2,509,767 shares of the real estate investment trust’s stock valued at $44,347,000 after acquiring an additional 593,734 shares during the period. Hermes Investment Management Ltd. grew its stake in shares of Retail Opportunity Investments by 3.4% during the 2nd quarter. Hermes Investment Management Ltd. now owns 2,334,605 shares of the real estate investment trust’s stock valued at $44,731,000 after acquiring an additional 77,695 shares during the period. Northern Trust Corp grew its stake in shares of Retail Opportunity Investments by 3.9% during the 1st quarter. Northern Trust Corp now owns 1,979,407 shares of the real estate investment trust’s stock valued at $34,976,000 after acquiring an additional 75,114 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of Retail Opportunity Investments by 37.9% during the 2nd quarter. Jennison Associates LLC now owns 1,941,073 shares of the real estate investment trust’s stock valued at $37,191,000 after acquiring an additional 533,286 shares during the period.
NASDAQ ROIC opened at $19.23 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 3.74 and a current ratio of 3.74. Retail Opportunity Investments Corp has a 12 month low of $16.17 and a 12 month high of $20.14. The company has a market capitalization of $2.19 billion, a P/E ratio of 16.85, a price-to-earnings-growth ratio of 2.73 and a beta of 0.56.
Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.23). Retail Opportunity Investments had a return on equity of 2.90% and a net margin of 13.23%. The business had revenue of $72.34 million during the quarter, compared to analysts’ expectations of $73.23 million. During the same period in the prior year, the firm posted $0.27 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. equities analysts forecast that Retail Opportunity Investments Corp will post 1.16 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Thursday, September 13th will be issued a $0.195 dividend. The ex-dividend date is Wednesday, September 12th. This represents a $0.78 dividend on an annualized basis and a yield of 4.06%. Retail Opportunity Investments’s dividend payout ratio is presently 68.42%.
A number of research analysts recently issued reports on ROIC shares. Capital One Financial downgraded Retail Opportunity Investments from an “overweight” rating to an “equal weight” rating in a research note on Thursday, July 26th. JPMorgan Chase & Co. downgraded Retail Opportunity Investments from a “neutral” rating to an “underweight” rating in a research note on Friday, June 15th. Zacks Investment Research upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Thursday, August 16th. BidaskClub upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Finally, ValuEngine downgraded Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.64.
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 June 30, 2018, ROIC owned 92 shopping centers encompassing approximately 10.6 million square feet.
See Also: Fiduciary
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