Retail Opportunity Investments (NASDAQ:ROIC) Receives “Underperform” Rating from Bank of America

Bank of America reiterated their underperform rating on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research report report published on Friday morning, MarketBeat Ratings reports. Bank of America currently has a $12.00 price target on the real estate investment trust’s stock, down from their previous price target of $14.50.

Several other analysts also recently commented on ROIC. KeyCorp upgraded shares of Retail Opportunity Investments from a sector weight rating to an overweight rating and set a $16.00 target price on the stock in a report on Friday, January 5th. StockNews.com upgraded shares of Retail Opportunity Investments from a sell rating to a hold rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Retail Opportunity Investments has an average rating of Hold and a consensus price target of $14.75.

Retail Opportunity Investments Stock Up 1.5 %

Retail Opportunity Investments stock opened at $12.45 on Friday. The company’s 50 day simple moving average is $12.94 and its 200 day simple moving average is $12.91. Retail Opportunity Investments has a fifty-two week low of $10.98 and a fifty-two week high of $15.16. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 46.11, a PEG ratio of 6.29 and a beta of 1.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.38 and a quick ratio of 1.38.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.21). Retail Opportunity Investments had a return on equity of 2.53% and a net margin of 10.54%. The firm had revenue of $84.60 million for the quarter, compared to the consensus estimate of $81.09 million. During the same period in the previous year, the business earned $0.27 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Retail Opportunity Investments will post 1.05 EPS for the current year.

Retail Opportunity Investments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.15 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.82%. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 222.23%.

Hedge Funds Weigh In On Retail Opportunity Investments

Hedge funds and other institutional investors have recently made changes to their positions in the company. Illinois Municipal Retirement Fund bought a new position in shares of Retail Opportunity Investments in the third quarter valued at $890,000. Qube Research & Technologies Ltd increased its holdings in shares of Retail Opportunity Investments by 559.0% in the third quarter. Qube Research & Technologies Ltd now owns 189,585 shares of the real estate investment trust’s stock valued at $2,347,000 after purchasing an additional 160,818 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Retail Opportunity Investments by 7.5% in the third quarter. Nisa Investment Advisors LLC now owns 48,940 shares of the real estate investment trust’s stock valued at $606,000 after purchasing an additional 3,430 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Retail Opportunity Investments by 3.8% in the third quarter. Daiwa Securities Group Inc. now owns 40,240 shares of the real estate investment trust’s stock valued at $498,000 after purchasing an additional 1,477 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Retail Opportunity Investments by 4.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 206,066 shares of the real estate investment trust’s stock valued at $2,551,000 after purchasing an additional 9,094 shares during the period. 97.16% of the stock is owned by institutional investors.

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 December 31, 2023, ROIC owned 94 shopping centers encompassing approximately 10.6 million square feet.