Centersquare Investment Management LLC raised its stake in Retail Opportunity Investments Corp (NASDAQ:ROIC) by 118.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,478,300 shares of the real estate investment trust’s stock after acquiring an additional 1,344,029 shares during the quarter. Centersquare Investment Management LLC owned approximately 2.17% of Retail Opportunity Investments worth $42,453,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Federated Investors Inc. PA grew its position in shares of Retail Opportunity Investments by 14.2% in the first quarter. Federated Investors Inc. PA now owns 3,060,003 shares of the real estate investment trust’s stock valued at $53,060,000 after purchasing an additional 379,498 shares during the period. Jennison Associates LLC grew its position in shares of Retail Opportunity Investments by 12.2% in the second quarter. Jennison Associates LLC now owns 2,157,598 shares of the real estate investment trust’s stock valued at $36,960,000 after purchasing an additional 235,011 shares during the period. Raymond James & Associates grew its position in shares of Retail Opportunity Investments by 9.2% in the first quarter. Raymond James & Associates now owns 1,665,102 shares of the real estate investment trust’s stock valued at $28,873,000 after purchasing an additional 140,319 shares during the period. Geode Capital Management LLC grew its position in shares of Retail Opportunity Investments by 9.5% in the fourth quarter. Geode Capital Management LLC now owns 1,602,715 shares of the real estate investment trust’s stock valued at $25,451,000 after purchasing an additional 138,664 shares during the period. Finally, Vision Capital Corp grew its position in Retail Opportunity Investments by 13.5% during the second quarter. Vision Capital Corp now owns 891,967 shares of the real estate investment trust’s stock valued at $15,279,000 after acquiring an additional 106,181 shares during the period. 95.54% of the stock is owned by institutional investors.
NASDAQ:ROIC opened at $18.47 on Friday. Retail Opportunity Investments Corp has a 52 week low of $15.44 and a 52 week high of $19.31. The firm has a market capitalization of $2.12 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 3.78 and a beta of 0.72. The stock has a 50 day moving average of $17.87 and a 200-day moving average of $17.44. The company has a current ratio of 4.36, a quick ratio of 4.36 and a debt-to-equity ratio of 1.16.
Retail Opportunity Investments (NASDAQ:ROIC) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). The firm had revenue of $72.93 million during the quarter, compared to analyst estimates of $73.49 million. Retail Opportunity Investments had a return on equity of 3.50% and a net margin of 15.28%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the company earned $0.27 earnings per share. As a group, analysts predict that Retail Opportunity Investments Corp will post 1.13 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a $0.197 dividend. This represents a $0.79 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Wednesday, September 11th. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 69.30%.
ROIC has been the subject of a number of research reports. DA Davidson reissued a “buy” rating on shares of Retail Opportunity Investments in a research report on Monday, July 29th. BMO Capital Markets set a $18.00 price objective on Retail Opportunity Investments and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Zacks Investment Research upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. ValuEngine upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Finally, BidaskClub cut Retail Opportunity Investments from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $18.00.
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.
See Also: FAANG Stocks
Receive News & Ratings for Retail Opportunity Investments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Retail Opportunity Investments and related companies with MarketBeat.com's FREE daily email newsletter.