Crestline Management LP grew its position in shares of Retail Opportunity Investments Corp (NASDAQ:ROIC) by 332.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 491,700 shares of the real estate investment trust’s stock after purchasing an additional 378,000 shares during the quarter. Retail Opportunity Investments makes up about 1.2% of Crestline Management LP’s portfolio, making the stock its 5th biggest holding. Crestline Management LP owned 0.43% of Retail Opportunity Investments worth $7,808,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of ROIC. Lindbrook Capital LLC purchased a new position in shares of Retail Opportunity Investments during the 4th quarter valued at approximately $27,000. Oregon Public Employees Retirement Fund purchased a new stake in Retail Opportunity Investments in the 4th quarter worth $43,000. PNC Financial Services Group Inc. increased its holdings in Retail Opportunity Investments by 23.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,197 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 603 shares in the last quarter. Whittier Trust Co. increased its holdings in Retail Opportunity Investments by 18.8% in the 4th quarter. Whittier Trust Co. now owns 3,684 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 584 shares in the last quarter. Finally, AlphaCrest Capital Management LLC purchased a new stake in Retail Opportunity Investments in the 4th quarter worth $173,000. 93.26% of the stock is owned by hedge funds and other institutional investors.
Shares of ROIC opened at $16.90 on Friday. Retail Opportunity Investments Corp has a 52-week low of $15.44 and a 52-week high of $19.80. The company has a debt-to-equity ratio of 1.13, a quick ratio of 3.51 and a current ratio of 3.51. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 3.56 and a beta of 0.72.
Retail Opportunity Investments (NASDAQ:ROIC) last announced its earnings results on Tuesday, February 19th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.29. The company had revenue of $75.20 million for the quarter, compared to analysts’ expectations of $74.43 million. Retail Opportunity Investments had a net margin of 14.45% and a return on equity of 3.25%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 EPS. As a group, analysts forecast that Retail Opportunity Investments Corp will post 1.15 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be given a dividend of $0.197 per share. This is a boost from Retail Opportunity Investments’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, March 13th. This represents a $0.79 annualized dividend and a dividend yield of 4.66%. Retail Opportunity Investments’s payout ratio is presently 69.30%.
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Retail Opportunity Investments from a “hold” rating to a “sell” rating in a report on Saturday. BidaskClub lowered shares of Retail Opportunity Investments from a “hold” rating to a “sell” rating in a report on Wednesday, February 20th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $18.00 price target on shares of Retail Opportunity Investments in a report on Tuesday, February 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Retail Opportunity Investments currently has an average rating of “Hold” and an average target price of $18.25.
Retail Opportunity Investments 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, 2018, ROIC owned 91 shopping centers encompassing approximately 10.5 million square feet.
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