JPMorgan Chase reiterated their neutral rating on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research note released on Friday, March 16th. They currently have a $19.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $20.00.
A number of other research analysts have also recently commented on ROIC. Zacks Investment Research cut shares of Retail Opportunity Investments from a hold rating to a sell rating in a research report on Wednesday, January 10th. Jefferies Group reaffirmed a hold rating and issued a $18.00 price target on shares of Retail Opportunity Investments in a research note on Tuesday, February 27th. Citigroup dropped their price target on Retail Opportunity Investments from $20.00 to $18.50 and set a neutral rating for the company in a research note on Wednesday, February 28th. BidaskClub downgraded Retail Opportunity Investments from a hold rating to a sell rating in a report on Tuesday, March 13th. Finally, Capital One Financial restated an overweight rating on shares of Retail Opportunity Investments in a report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $20.94.
ROIC traded down $0.43 during mid-day trading on Friday, reaching $17.32. 1,263,640 shares of the stock were exchanged, compared to its average volume of 1,544,744. The company has a debt-to-equity ratio of 1.12, a current ratio of 3.23 and a quick ratio of 3.23. The company has a market capitalization of $1,949.28, a price-to-earnings ratio of 15.19, a P/E/G ratio of 2.44 and a beta of 0.55. Retail Opportunity Investments has a 1 year low of $16.21 and a 1 year high of $22.06.
Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Retail Opportunity Investments had a net margin of 14.08% and a return on equity of 2.95%. The business had revenue of $72.75 million for the quarter, compared to the consensus estimate of $71.07 million. During the same period in the prior year, the firm earned $0.27 earnings per share. The company’s revenue was up 15.3% compared to the same quarter last year. equities analysts anticipate that Retail Opportunity Investments will post 1.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were issued a $0.195 dividend. The ex-dividend date was Wednesday, March 14th. This is a boost from Retail Opportunity Investments’s previous quarterly dividend of $0.19. This represents a $0.78 dividend on an annualized basis and a yield of 4.50%. Retail Opportunity Investments’s payout ratio is currently 68.42%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Elkfork Partners LLC bought a new stake in Retail Opportunity Investments in the 4th quarter worth approximately $254,000. Xact Kapitalforvaltning AB bought a new position in shares of Retail Opportunity Investments during the 4th quarter valued at approximately $227,000. Sterling Capital Management LLC increased its position in shares of Retail Opportunity Investments by 17.1% during the 4th quarter. Sterling Capital Management LLC now owns 82,000 shares of the real estate investment trust’s stock valued at $1,636,000 after purchasing an additional 12,000 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in shares of Retail Opportunity Investments during the 4th quarter valued at approximately $1,044,000. Finally, Teachers Advisors LLC increased its position in shares of Retail Opportunity Investments by 13.0% during the 4th quarter. Teachers Advisors LLC now owns 1,855,720 shares of the real estate investment trust’s stock valued at $37,022,000 after purchasing an additional 213,604 shares during the last quarter. 99.28% of the stock is currently owned by institutional investors.
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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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