Whittier Trust Co. raised its holdings in Retail Opportunity Investments Corp (NASDAQ:ROIC) by 1,939.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,139 shares of the real estate investment trust’s stock after buying an additional 71,455 shares during the quarter. Whittier Trust Co. owned 0.07% of Retail Opportunity Investments worth $1,286,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. First Hawaiian Bank bought a new stake in Retail Opportunity Investments in the 1st quarter valued at $32,000. Quadrant Capital Group LLC increased its holdings in Retail Opportunity Investments by 1,542.1% in the 1st quarter. Quadrant Capital Group LLC now owns 3,005 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 2,822 shares during the period. Nisa Investment Advisors LLC bought a new stake in Retail Opportunity Investments in the 1st quarter valued at $92,000. Everence Capital Management Inc. bought a new stake in Retail Opportunity Investments in the 1st quarter valued at $254,000. Finally, Pictet Asset Management Ltd. increased its holdings in Retail Opportunity Investments by 34.3% in the 1st quarter. Pictet Asset Management Ltd. now owns 18,400 shares of the real estate investment trust’s stock valued at $319,000 after buying an additional 4,700 shares during the period. 91.19% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on ROIC. ValuEngine raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. BMO Capital Markets set a $18.00 target price on shares of Retail Opportunity Investments and gave the company a “hold” rating in a research note on Wednesday, July 24th. Zacks Investment Research upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Wednesday. DA Davidson restated a “buy” rating on shares of Retail Opportunity Investments in a research note on Monday, July 29th. Finally, BidaskClub upgraded shares of Retail Opportunity Investments from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $18.00.
Shares of NASDAQ:ROIC traded up $0.07 on Friday, hitting $18.01. The stock had a trading volume of 1,010,891 shares, compared to its average volume of 1,042,184. Retail Opportunity Investments Corp has a twelve month low of $15.44 and a twelve month high of $19.80. The company has a quick ratio of 4.36, a current ratio of 4.36 and a debt-to-equity ratio of 1.16. The company has a 50 day moving average of $17.58. The company has a market cap of $2.05 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 3.78 and a beta of 0.71.
Retail Opportunity Investments (NASDAQ:ROIC) last issued its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.02). The firm had revenue of $72.93 million during the quarter, compared to analyst estimates of $73.49 million. Retail Opportunity Investments had a net margin of 15.28% and a return on equity of 3.50%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 EPS. On average, sell-side analysts forecast that Retail Opportunity Investments Corp will post 1.13 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be given a dividend of $0.197 per share. The ex-dividend date is Wednesday, September 11th. This represents a $0.79 annualized dividend and a yield of 4.38%. Retail Opportunity Investments’s dividend payout ratio (DPR) is 69.30%.
Retail Opportunity Investments Profile
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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