Allstate Corp Grows Stock Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Allstate Corp boosted its stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 20.4% in the 4th quarter, Holdings Channel reports. The firm owned 129,189 shares of the real estate investment trust’s stock after purchasing an additional 21,895 shares during the period. Allstate Corp’s holdings in Retail Opportunity Investments were worth $1,813,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Retail Opportunity Investments by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 19,819,688 shares of the real estate investment trust’s stock valued at $245,368,000 after purchasing an additional 71,258 shares during the last quarter. Federated Hermes Inc. increased its holdings in Retail Opportunity Investments by 10.8% in the 4th quarter. Federated Hermes Inc. now owns 4,216,242 shares of the real estate investment trust’s stock valued at $59,154,000 after purchasing an additional 409,837 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Retail Opportunity Investments by 45.5% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,830,264 shares of the real estate investment trust’s stock valued at $39,709,000 after purchasing an additional 884,914 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Retail Opportunity Investments by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,100,480 shares of the real estate investment trust’s stock valued at $29,470,000 after purchasing an additional 58,171 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new stake in Retail Opportunity Investments in the 3rd quarter valued at approximately $24,988,000. Institutional investors and hedge funds own 97.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ROIC. Bank of America reiterated an “underperform” rating and issued a $12.00 target price (down previously from $14.50) on shares of Retail Opportunity Investments in a report on Friday, April 5th. StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note 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 MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $14.75.

Retail Opportunity Investments Stock Down 0.9 %

Shares of NASDAQ:ROIC traded down $0.11 during trading on Thursday, hitting $12.31. The company’s stock had a trading volume of 291,297 shares, compared to its average volume of 1,106,484. The business has a 50 day moving average price of $12.46 and a two-hundred day moving average price of $13.01. The company has a market capitalization of $1.57 billion, a PE ratio of 41.40 and a beta of 1.41. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.07 and a current ratio of 1.07. Retail Opportunity Investments Corp. has a fifty-two week low of $10.98 and a fifty-two week high of $15.16.

Retail Opportunity Investments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.60 annualized dividend and a dividend yield of 4.87%. Retail Opportunity Investments’s dividend payout ratio (DPR) is currently 200.00%.

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.