Envestnet Asset Management Inc. Increases Stock Position in Retail Opportunity Investments Corp (NASDAQ:ROIC)

Envestnet Asset Management Inc. raised its position in shares of Retail Opportunity Investments Corp (NASDAQ:ROIC) by 17.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,544 shares of the real estate investment trust’s stock after buying an additional 3,560 shares during the period. Envestnet Asset Management Inc.’s holdings in Retail Opportunity Investments were worth $447,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its position in Retail Opportunity Investments by 765.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,852 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 1,638 shares during the period. Advisory Services Network LLC boosted its position in Retail Opportunity Investments by 2,023.9% during the 2nd quarter. Advisory Services Network LLC now owns 2,400 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 2,287 shares during the period. HM Payson & Co. purchased a new stake in Retail Opportunity Investments during the 2nd quarter valued at $51,000. Nisa Investment Advisors LLC boosted its position in Retail Opportunity Investments by 82.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,739 shares of the real estate investment trust’s stock valued at $167,000 after buying an additional 4,409 shares during the period. Finally, Teza Capital Management LLC bought a new position in Retail Opportunity Investments in the 2nd quarter worth $180,000. 94.59% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ ROIC opened at $17.95 on Thursday. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.10. Retail Opportunity Investments Corp has a 12 month low of $15.44 and a 12 month high of $19.18. The firm has a market capitalization of $2.10 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 5.27 and a beta of 0.69. The firm has a fifty day simple moving average of $18.43 and a two-hundred day simple moving average of $17.83.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.12). Retail Opportunity Investments had a return on equity of 3.81% and a net margin of 16.59%. The company had revenue of $72.44 million during the quarter, compared to the consensus estimate of $73.90 million. During the same quarter last year, the company posted $0.28 earnings per share. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, sell-side analysts predict that Retail Opportunity Investments Corp will post 1.11 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be paid a $0.197 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.79 annualized dividend and a dividend yield of 4.39%. Retail Opportunity Investments’s payout ratio is 69.30%.

Several research analysts have commented on ROIC shares. Zacks Investment Research upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. DA Davidson restated a “buy” rating on shares of Retail Opportunity Investments in a report on Monday, July 29th. BidaskClub lowered shares of Retail Opportunity Investments from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. BMO Capital Markets set a $18.00 price objective on shares of Retail Opportunity Investments and gave the stock a “hold” rating in a report on Wednesday, July 24th. Finally, Capital One Financial upgraded shares of Retail Opportunity Investments from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $19.00 to $21.00 in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.50.

In related news, Director Laura H. Pomerantz sold 13,275 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $18.66, for a total value of $247,711.50. Following the completion of the transaction, the director now directly owns 47,897 shares in the company, valued at approximately $893,758.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard A. Baker sold 50,000 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $18.66, for a total transaction of $933,000.00. Following the completion of the transaction, the chairman now owns 273,026 shares of the company’s stock, valued at $5,094,665.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,275 shares of company stock valued at $1,289,192. 2.50% of the stock is owned by company insiders.

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.

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Institutional Ownership by Quarter for Retail Opportunity Investments (NASDAQ:ROIC)

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