Shares of Retail Opportunity Investments Corp (NASDAQ:ROIC) have been assigned an average recommendation of “Hold” from the nine research firms that are presently covering the firm. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $22.42.
ROIC has been the subject of several recent analyst reports. Zacks Investment Research upgraded Retail Opportunity Investments Corp from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Wednesday, January 11th. FBR & Co reiterated a “hold” rating on shares of Retail Opportunity Investments Corp in a report on Wednesday, February 22nd.
In other news, Director Charles J. Persico sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $22.25, for a total transaction of $111,250.00. Following the transaction, the director now directly owns 19,863 shares in the company, valued at approximately $441,951.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.30% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ROIC. State of Alaska Department of Revenue raised its stake in Retail Opportunity Investments Corp by 9.1% in the first quarter. State of Alaska Department of Revenue now owns 24,640 shares of the real estate investment trust’s stock valued at $517,000 after buying an additional 2,060 shares during the last quarter. Kissinger Financial Services LLC raised its stake in Retail Opportunity Investments Corp by 0.7% in the first quarter. Kissinger Financial Services LLC now owns 39,015 shares of the real estate investment trust’s stock valued at $820,000 after buying an additional 285 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Retail Opportunity Investments Corp by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 44,500 shares of the real estate investment trust’s stock valued at $936,000 after buying an additional 600 shares during the last quarter. Fenimore Asset Management Inc. raised its stake in Retail Opportunity Investments Corp by 2.0% in the first quarter. Fenimore Asset Management Inc. now owns 234,450 shares of the real estate investment trust’s stock valued at $4,930,000 after buying an additional 4,550 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in Retail Opportunity Investments Corp during the first quarter valued at approximately $3,200,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.
Retail Opportunity Investments Corp (NASDAQ:ROIC) traded up 0.59% during mid-day trading on Monday, reaching $22.00. The company had a trading volume of 679,225 shares. The stock’s 50-day moving average price is $21.10 and its 200 day moving average price is $20.83. Retail Opportunity Investments Corp has a 52 week low of $18.45 and a 52 week high of $23.05. The firm has a market capitalization of $2413.97 billion, a PE ratio of 70.97 and a beta of 0.58.
Retail Opportunity Investments Corp (NASDAQ:ROIC) last announced its quarterly earnings results on Wednesday, February 22nd. The real estate investment trust reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.19. Retail Opportunity Investments Corp had a return on equity of 2.49% and a net margin of 13.33%. The firm earned $63.10 million during the quarter, compared to analyst estimates of $60.65 million. During the same quarter in the previous year, the business earned $0.25 EPS. Retail Opportunity Investments Corp’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, equities research analysts predict that Retail Opportunity Investments Corp will post $0.39 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 30th. Stockholders of record on Thursday, March 16th were issued a dividend of $0.1875 per share. This is a boost from Retail Opportunity Investments Corp’s previous quarterly dividend of $0.18. This represents a $0.75 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Tuesday, March 14th. Retail Opportunity Investments Corp’s payout ratio is currently 180.00%.
Retail Opportunity Investments Corp Company Profile
Retail Opportunity Investments Corp. (ROIC) is a fully integrated, self-managed real estate investment trust (REIT). The Company specializes in the acquisition, ownership and management of necessity-based community and neighborhood shopping centers on the west coast of the United States, anchored by supermarkets and drugstores.
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