Zacks Investment Research downgraded shares of Retail Opportunity Investments (NASDAQ:ROIC) from a hold rating to a sell rating in a report released on Wednesday, Zacks.com reports.
According to Zacks, “Retail Opportunity Investments Corp. is a corporation that intends to qualify as a REIT for U.S. federal incoming tax purposes and that expects to invest in, acquire, own, lease, reposition and manage a diverse portfolio of necessity-based retail properties. This includes primarily, well located community and neighborhood shopping centers, anchored by national or regional supermarkets and drugstores. The company may also acquire other retail properties, including power centers, regional malls lifestyle centers and single-tenant retail locations that are leased to national, regional and local tenants. In addition, the Company may supplement its direct purchases of retail properties with first mortgages or second mortgages, mezzanine loans, bridge or other loans or debt investments related to retail properties, in each case provided that the underlying real estate meets the Company’s criteria for direct investment. “
Several other analysts have also recently commented on the company. ValuEngine upgraded Retail Opportunity Investments from a sell rating to a hold rating in a report on Tuesday, July 9th. DA Davidson reiterated a buy rating on shares of Retail Opportunity Investments in a report on Monday, July 29th. BMO Capital Markets set a $18.00 target price on Retail Opportunity Investments and gave the company a hold rating in a report on Wednesday, July 24th. Finally, BidaskClub upgraded Retail Opportunity Investments from a buy rating to a strong-buy rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Hold and an average target price of $18.00.
Shares of Retail Opportunity Investments stock traded up $0.30 on Wednesday, hitting $18.44. The stock had a trading volume of 1,223,413 shares, compared to its average volume of 1,089,784. The stock has a 50 day moving average of $18.05 and a 200 day moving average of $17.63. Retail Opportunity Investments has a twelve month low of $15.44 and a twelve month high of $18.65. The company has a debt-to-equity ratio of 1.16, a quick ratio of 4.36 and a current ratio of 4.36. The firm has a market capitalization of $2.07 billion, a P/E ratio of 16.19, a PEG ratio of 3.70 and a beta of 0.70.
Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.02). Retail Opportunity Investments had a net margin of 15.28% and a return on equity of 3.50%. The firm had revenue of $72.93 million during the quarter, compared to analyst estimates of $73.49 million. During the same period in the prior year, the company earned $0.27 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts expect that Retail Opportunity Investments will post 1.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a $0.197 dividend. This represents a $0.79 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend was Wednesday, September 11th. Retail Opportunity Investments’s payout ratio is presently 69.30%.
Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its holdings in Retail Opportunity Investments by 765.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,852 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 1,638 shares during the last quarter. Advisory Services Network LLC boosted its holdings in Retail Opportunity Investments by 2,023.9% in the second quarter. Advisory Services Network LLC now owns 2,400 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 2,287 shares during the last quarter. HM Payson & Co. bought a new stake in Retail Opportunity Investments in the second quarter valued at approximately $51,000. Nisa Investment Advisors LLC boosted its holdings in Retail Opportunity Investments by 82.7% in the second quarter. Nisa Investment Advisors LLC now owns 9,739 shares of the real estate investment trust’s stock valued at $167,000 after acquiring an additional 4,409 shares during the last quarter. Finally, Teza Capital Management LLC bought a new stake in Retail Opportunity Investments in the second quarter valued at approximately $180,000. Institutional investors and hedge funds own 95.58% of the company’s stock.
About Retail Opportunity Investments
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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