Metropolitan Life Insurance Co. NY reduced its holdings in shares of Retail Opportunity Investments Corp (NASDAQ:ROIC) by 49.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,274 shares of the real estate investment trust’s stock after selling 40,051 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Retail Opportunity Investments were worth $803,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Virtus Fund Advisers LLC lifted its stake in Retail Opportunity Investments by 5.1% during the fourth quarter. Virtus Fund Advisers LLC now owns 4,912,797 shares of the real estate investment trust’s stock worth $98,010,000 after purchasing an additional 240,137 shares during the last quarter. Deprince Race & Zollo Inc. lifted its stake in Retail Opportunity Investments by 33.8% during the fourth quarter. Deprince Race & Zollo Inc. now owns 2,543,608 shares of the real estate investment trust’s stock worth $50,745,000 after purchasing an additional 642,262 shares during the last quarter. Hermes Investment Management Ltd. lifted its stake in Retail Opportunity Investments by 5.3% during the fourth quarter. Hermes Investment Management Ltd. now owns 2,112,758 shares of the real estate investment trust’s stock worth $42,150,000 after purchasing an additional 106,758 shares during the last quarter. Teachers Advisors LLC lifted its stake in Retail Opportunity Investments by 13.0% during the fourth quarter. Teachers Advisors LLC now owns 1,855,720 shares of the real estate investment trust’s stock worth $37,022,000 after purchasing an additional 213,604 shares during the last quarter. Finally, CI Investments Inc. lifted its stake in Retail Opportunity Investments by 0.3% during the fourth quarter. CI Investments Inc. now owns 1,846,683 shares of the real estate investment trust’s stock worth $36,841,000 after purchasing an additional 6,100 shares during the last quarter. Institutional investors own 99.28% of the company’s stock.
Several equities analysts recently issued reports on ROIC shares. Capital One Financial restated an “overweight” rating on shares of Retail Opportunity Investments in a research note on Monday, February 12th. BidaskClub raised Retail Opportunity Investments from a “strong sell” rating to a “sell” rating in a research report on Thursday, February 22nd. Citigroup dropped their target price on Retail Opportunity Investments from $20.00 to $18.50 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Jefferies Group reaffirmed a “hold” rating and issued a $18.00 target price on shares of Retail Opportunity Investments in a research report on Tuesday, February 27th. Finally, Zacks Investment Research lowered Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Retail Opportunity Investments currently has a consensus rating of “Hold” and an average price target of $20.94.
Shares of NASDAQ ROIC opened at $17.32 on Friday. Retail Opportunity Investments Corp has a 1-year low of $16.21 and a 1-year high of $22.06. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $2,019.06, a price-to-earnings ratio of 15.19, a P/E/G ratio of 2.53 and a beta of 0.55.
Retail Opportunity Investments (NASDAQ:ROIC) last issued its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Retail Opportunity Investments had a return on equity of 2.95% and a net margin of 14.08%. The firm had revenue of $72.75 million for the quarter, compared to analyst estimates of $71.07 million. During the same period last year, the company earned $0.27 earnings per share. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. sell-side analysts anticipate that Retail Opportunity Investments Corp will post 1.19 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 4.50%. This is a positive change from Retail Opportunity Investments’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Wednesday, March 14th. Retail Opportunity Investments’s dividend payout ratio (DPR) is 68.42%.
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Retail Opportunity Investments 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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