BlackRock Inc. cut its holdings in Retail Opportunity Investments Corp (NASDAQ:ROIC) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,793,157 shares of the real estate investment trust’s stock after selling 105,545 shares during the period. BlackRock Inc. owned approximately 17.32% of Retail Opportunity Investments worth $343,212,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of the company. Lindbrook Capital LLC acquired a new stake in shares of Retail Opportunity Investments in the 4th quarter valued at about $27,000. First Hawaiian Bank acquired a new stake in shares of Retail Opportunity Investments in the 1st quarter valued at about $32,000. Quadrant Capital Group LLC boosted its stake in Retail Opportunity Investments by 1,542.1% during the 1st quarter. Quadrant Capital Group LLC now owns 3,005 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 2,822 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Retail Opportunity Investments by 23.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,197 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 603 shares during the last quarter. Finally, Whittier Trust Co. boosted its stake in Retail Opportunity Investments by 18.8% during the 4th quarter. Whittier Trust Co. now owns 3,684 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 584 shares during the last quarter. 92.00% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the company. BidaskClub upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Zacks Investment Research upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Retail Opportunity Investments presently has an average rating of “Hold” and a consensus price target of $18.00.
Shares of NASDAQ ROIC opened at $16.96 on Thursday. Retail Opportunity Investments Corp has a twelve month low of $15.44 and a twelve month high of $19.80. The company has a market capitalization of $1.96 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 3.57 and a beta of 0.72. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 1.14.
Retail Opportunity Investments (NASDAQ:ROIC) last announced its earnings results on Wednesday, April 24th. The real estate investment trust reported $0.29 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.29. Retail Opportunity Investments had a return on equity of 3.46% and a net margin of 15.22%. The firm had revenue of $76.05 million for the quarter, compared to the consensus estimate of $75.31 million. During the same quarter in the previous year, the business earned $0.30 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. On average, analysts forecast that Retail Opportunity Investments Corp will post 1.14 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be paid a $0.197 dividend. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $0.79 dividend on an annualized basis and a dividend yield of 4.65%. Retail Opportunity Investments’s payout ratio is presently 69.30%.
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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 March 31, 2019, ROIC owned 90 shopping centers encompassing approximately 10.3 million square feet.
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