Principal Financial Group Inc. lowered its holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC – Free Report) by 4.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 715,917 shares of the real estate investment trust’s stock after selling 35,934 shares during the quarter. Principal Financial Group Inc. owned 0.57% of Retail Opportunity Investments worth $9,672,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. LPL Financial LLC increased its position in shares of Retail Opportunity Investments by 4.6% in the second quarter. LPL Financial LLC now owns 14,621 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 644 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Retail Opportunity Investments by 1.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 51,727 shares of the real estate investment trust’s stock valued at $777,000 after buying an additional 701 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Retail Opportunity Investments by 1.9% in the second quarter. Daiwa Securities Group Inc. now owns 38,763 shares of the real estate investment trust’s stock valued at $524,000 after buying an additional 706 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Retail Opportunity Investments by 3.4% in the fourth quarter. Captrust Financial Advisors now owns 22,027 shares of the real estate investment trust’s stock valued at $331,000 after buying an additional 728 shares in the last quarter. Finally, Signaturefd LLC increased its position in Retail Opportunity Investments by 28.4% during the 1st quarter. Signaturefd LLC now owns 3,834 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 847 shares in the last quarter. Institutional investors and hedge funds own 97.16% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on ROIC shares. Wells Fargo & Company lowered Retail Opportunity Investments from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $14.00 to $15.00 in a research note on Wednesday, September 20th. Bank of America lowered Retail Opportunity Investments from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $15.00 to $13.00 in a research note on Monday, November 6th. StockNews.com lowered Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Finally, Raymond James raised Retail Opportunity Investments from a “market perform” rating to an “outperform” rating and set a $16.00 price target on the stock in a research note on Tuesday, September 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Retail Opportunity Investments currently has an average rating of “Hold” and a consensus target price of $14.67.
Retail Opportunity Investments Stock Performance
NASDAQ ROIC opened at $12.23 on Tuesday. The firm has a market capitalization of $1.54 billion, a P/E ratio of 42.17, a P/E/G ratio of 7.17 and a beta of 1.43. Retail Opportunity Investments Corp. has a 1-year low of $10.98 and a 1-year high of $16.37. The company has a debt-to-equity ratio of 1.14, a current ratio of 4.13 and a quick ratio of 4.13. The business’s 50-day simple moving average is $12.30 and its 200-day simple moving average is $13.05.
Retail Opportunity Investments (NASDAQ:ROIC – Get Free Report) last released its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.20). The firm had revenue of $78.27 million during the quarter, compared to analyst estimates of $80.99 million. Retail Opportunity Investments had a net margin of 11.35% and a return on equity of 2.68%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 earnings per share. Equities analysts predict that Retail Opportunity Investments Corp. will post 1.06 EPS for the current year.
Retail Opportunity Investments Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.91%. The ex-dividend date is Thursday, December 14th. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 206.90%.
Insider Buying and Selling
In related news, Director Laura H. Pomerantz sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $13.46, for a total transaction of $53,840.00. Following the transaction, the director now directly owns 51,557 shares of the company’s stock, valued at approximately $693,957.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.
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 September 30, 2023, ROIC owned 93 shopping centers encompassing approximately 10.6 million square feet.
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