Zacks Investment Research downgraded shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) from a hold rating to a sell rating in a report released on Tuesday morning.

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 research firms have also commented on ROIC. Canaccord Genuity reiterated a buy rating and set a $26.00 price target on shares of Retail Opportunity Investments Corp. in a report on Thursday, April 27th. TheStreet lowered Retail Opportunity Investments Corp. from a b rating to a c+ rating in a report on Friday, April 28th. Jefferies Group LLC reiterated a buy rating and set a $26.00 price target on shares of Retail Opportunity Investments Corp. in a report on Wednesday, June 14th. Royal Bank Of Canada reiterated a hold rating and set a $23.00 price target on shares of Retail Opportunity Investments Corp. in a report on Thursday, July 27th. Finally, BidaskClub upgraded Retail Opportunity Investments Corp. from a sell rating to a hold rating in a report on Sunday, July 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $23.14.

Retail Opportunity Investments Corp. (NASDAQ ROIC) traded down 0.69% on Tuesday, reaching $20.03. 715,729 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $19.81 and a 200 day moving average price of $20.52. The firm has a market cap of $2.20 billion, a PE ratio of 62.01 and a beta of 0.69. Retail Opportunity Investments Corp. has a one year low of $18.45 and a one year high of $22.98.

Retail Opportunity Investments Corp. (NASDAQ:ROIC) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by $0.01. Retail Opportunity Investments Corp. had a return on equity of 2.71% and a net margin of 13.92%. The company had revenue of $66.64 million for the quarter, compared to analysts’ expectations of $66.18 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The firm’s revenue was up 13.6% on a year-over-year basis. On average, equities analysts anticipate that Retail Opportunity Investments Corp. will post $0.37 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be given a dividend of $0.188 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.75%. This is an increase from Retail Opportunity Investments Corp.’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, September 13th. Retail Opportunity Investments Corp.’s dividend payout ratio (DPR) is presently 227.28%.

Several hedge funds have recently modified their holdings of ROIC. Tyers Asset Management LLC increased its stake in shares of Retail Opportunity Investments Corp. by 0.4% in the first quarter. Tyers Asset Management LLC now owns 5,808 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 22 shares during the last quarter. Flinton Capital Management LLC increased its stake in shares of Retail Opportunity Investments Corp. by 0.4% in the first quarter. Flinton Capital Management LLC now owns 7,392 shares of the real estate investment trust’s stock worth $155,000 after buying an additional 28 shares during the last quarter. Neuburgh Advisers LLC increased its stake in shares of Retail Opportunity Investments Corp. by 0.4% in the first quarter. Neuburgh Advisers LLC now owns 8,976 shares of the real estate investment trust’s stock worth $189,000 after buying an additional 34 shares during the last quarter. Nicholas Hoffman & Company LLC. increased its stake in shares of Retail Opportunity Investments Corp. by 0.9% in the first quarter. Nicholas Hoffman & Company LLC. now owns 10,857 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 96 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Retail Opportunity Investments Corp. by 1.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,985 shares of the real estate investment trust’s stock worth $357,000 after buying an additional 180 shares during the last quarter. 96.55% of the stock is owned by hedge funds and other institutional investors.

Retail Opportunity Investments Corp. Company 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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