BidaskClub downgraded shares of Retail Opportunity Investments (NASDAQ:ROIC) from a hold rating to a sell rating in a research report report published on Saturday morning.
Other analysts also recently issued research reports about the company. Royal Bank of Canada restated a buy rating and issued a $22.00 target price on shares of Retail Opportunity Investments in a research note on Monday, October 30th. Jefferies Group set a $20.00 target price on Retail Opportunity Investments and gave the stock a hold rating in a research note on Tuesday, October 31st. Zacks Investment Research upgraded Retail Opportunity Investments from a sell rating to a hold rating in a research note on Tuesday, October 31st. FBR & Co set a $23.00 price target on Retail Opportunity Investments and gave the stock a hold rating in a research report on Wednesday, October 11th. Finally, KeyCorp reiterated a hold rating on shares of Retail Opportunity Investments in a research report on Sunday, September 24th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Retail Opportunity Investments presently has an average rating of Hold and an average target price of $22.00.
Shares of Retail Opportunity Investments (NASDAQ:ROIC) traded down $0.08 on Friday, hitting $18.76. The stock had a trading volume of 516,885 shares, compared to its average volume of 819,154. Retail Opportunity Investments has a 1 year low of $17.87 and a 1 year high of $22.37. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $2,058.53, a P/E ratio of 55.18, a price-to-earnings-growth ratio of 2.29 and a beta of 0.68.
Retail Opportunity Investments (NASDAQ:ROIC) last issued its earnings results on Tuesday, October 24th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.21). Retail Opportunity Investments had a return on equity of 2.86% and a net margin of 14.13%. The company had revenue of $67.97 million during the quarter, compared to analysts’ expectations of $68.34 million. During the same quarter in the previous year, the company earned $0.26 EPS. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. equities research analysts expect that Retail Opportunity Investments will post 1.13 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th were given a dividend of $0.188 per share. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a $0.75 dividend on an annualized basis and a yield of 4.01%. Retail Opportunity Investments’s dividend payout ratio is currently 220.59%.
A number of hedge funds have recently modified their holdings of ROIC. Riverhead Capital Management LLC boosted its position in Retail Opportunity Investments by 55.9% during the second quarter. Riverhead Capital Management LLC now owns 7,327 shares of the real estate investment trust’s stock worth $141,000 after purchasing an additional 2,627 shares in the last quarter. Shelton Capital Management boosted its position in Retail Opportunity Investments by 5.6% during the second quarter. Shelton Capital Management now owns 10,858 shares of the real estate investment trust’s stock worth $208,000 after purchasing an additional 579 shares in the last quarter. SG Americas Securities LLC boosted its position in Retail Opportunity Investments by 77.6% during the second quarter. SG Americas Securities LLC now owns 10,965 shares of the real estate investment trust’s stock worth $210,000 after purchasing an additional 4,790 shares in the last quarter. Flinton Capital Management LLC raised its holdings in shares of Retail Opportunity Investments by 56.4% during the second quarter. Flinton Capital Management LLC now owns 11,564 shares of the real estate investment trust’s stock valued at $222,000 after acquiring an additional 4,172 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Retail Opportunity Investments during the second quarter valued at approximately $259,000. Institutional investors own 97.38% of the company’s stock.
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About Retail Opportunity Investments
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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