Zacks Investment Research upgraded shares of Retail Opportunity Investments (NASDAQ:ROIC) from a sell rating to a hold rating in a report issued on Wednesday morning.
According to Zacks, “Retail Opportunity Investments Corp. is a corporation that intends to qualify as a REIT for U.S. federal incoming tax purposes and that expects to invest in, acquire, own, lease, reposition and manage a diverse portfolio of necessity-based retail properties. This includes primarily, well located community and neighborhood shopping centers, anchored by national or regional supermarkets and drugstores. The company may also acquire other retail properties, including power centers, regional malls lifestyle centers and single-tenant retail locations that are leased to national, regional and local tenants. In addition, the Company may supplement its direct purchases of retail properties with first mortgages or second mortgages, mezzanine loans, bridge or other loans or debt investments related to retail properties, in each case provided that the underlying real estate meets the Company’s criteria for direct investment. “
Other research analysts also recently issued reports about the company. ValuEngine upgraded Retail Opportunity Investments from a sell rating to a hold rating in a report on Tuesday, August 28th. BMO Capital Markets began coverage on Retail Opportunity Investments in a report on Tuesday, September 18th. They set a hold rating and a $20.00 price objective for the company. Finally, BidaskClub downgraded Retail Opportunity Investments from a hold rating to a sell rating in a report on Friday, September 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $18.75.
Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings data on Tuesday, October 23rd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.22). The firm had revenue of $73.90 million for the quarter, compared to the consensus estimate of $73.15 million. Retail Opportunity Investments had a return on equity of 3.26% and a net margin of 14.69%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 earnings per share. On average, research analysts predict that Retail Opportunity Investments will post 1.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be issued a dividend of $0.195 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 4.35%. Retail Opportunity Investments’s payout ratio is presently 68.42%.
Large investors have recently bought and sold shares of the stock. Vident Investment Advisory LLC boosted its position in Retail Opportunity Investments by 117.7% during the second quarter. Vident Investment Advisory LLC now owns 36,240 shares of the real estate investment trust’s stock valued at $694,000 after purchasing an additional 19,595 shares during the last quarter. SG Americas Securities LLC boosted its position in Retail Opportunity Investments by 259.1% during the second quarter. SG Americas Securities LLC now owns 139,264 shares of the real estate investment trust’s stock valued at $2,668,000 after purchasing an additional 100,484 shares during the last quarter. Legal & General Group Plc boosted its position in Retail Opportunity Investments by 0.8% during the second quarter. Legal & General Group Plc now owns 559,520 shares of the real estate investment trust’s stock valued at $10,731,000 after purchasing an additional 4,214 shares during the last quarter. Rhumbline Advisers boosted its position in Retail Opportunity Investments by 4.6% during the second quarter. Rhumbline Advisers now owns 292,292 shares of the real estate investment trust’s stock valued at $5,600,000 after purchasing an additional 12,799 shares during the last quarter. Finally, Pinebridge Investments L.P. boosted its position in Retail Opportunity Investments by 8.9% during the second quarter. Pinebridge Investments L.P. now owns 108,004 shares of the real estate investment trust’s stock valued at $2,070,000 after purchasing an additional 8,872 shares during the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.
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 June 30, 2018, ROIC owned 92 shopping centers encompassing approximately 10.6 million square feet.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.