Retail Opportunity Investments Corp. (ROIC) Given Consensus Recommendation of “Hold” by Brokerages
Retail Opportunity Investments Corp. (NASDAQ:ROIC) has earned a consensus recommendation of “Hold” from the ten ratings firms that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $22.33.
A number of research analysts have recently issued reports on ROIC shares. Zacks Investment Research cut shares of Retail Opportunity Investments Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Robert W. Baird reissued a “buy” rating and issued a $22.00 price target on shares of Retail Opportunity Investments Corp. in a report on Thursday, August 24th. Royal Bank Of Canada raised shares of Retail Opportunity Investments Corp. from a “sector perform” rating to an “outperform” rating and set a $23.00 price target for the company in a report on Thursday, August 17th. KeyCorp reissued a “hold” rating on shares of Retail Opportunity Investments Corp. in a report on Sunday, September 24th. Finally, FBR & Co set a $23.00 price target on shares of Retail Opportunity Investments Corp. and gave the company a “hold” rating in a report on Wednesday, October 11th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new stake in Retail Opportunity Investments Corp. during the 2nd quarter worth $530,000. Public Employees Retirement System of Ohio grew its holdings in Retail Opportunity Investments Corp. by 72.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 209,841 shares of the real estate investment trust’s stock worth $4,027,000 after acquiring an additional 87,878 shares during the period. Verition Fund Management LLC acquired a new stake in Retail Opportunity Investments Corp. during the 2nd quarter worth $704,000. Piedmont Investment Advisors LLC acquired a new stake in Retail Opportunity Investments Corp. during the 2nd quarter worth $455,000. Finally, Sterling Capital Management LLC acquired a new stake in Retail Opportunity Investments Corp. during the 2nd quarter worth $1,343,000. 94.92% of the stock is owned by hedge funds and other institutional investors.
Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) traded down 0.72% during trading on Wednesday, reaching $19.26. The company had a trading volume of 101,497 shares. Retail Opportunity Investments Corp. has a 12-month low of $18.45 and a 12-month high of $22.37. The firm has a 50-day moving average of $19.46 and a 200-day moving average of $20.03. The company has a market cap of $2.11 billion, a P/E ratio of 59.63 and a beta of 0.68.
Retail Opportunity Investments Corp. (NASDAQ:ROIC) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Retail Opportunity Investments Corp. had a net margin of 13.92% and a return on equity of 2.71%. The firm had revenue of $66.64 million during the quarter, compared to the consensus estimate of $66.18 million. During the same quarter last year, the firm posted $0.27 EPS. The business’s revenue was up 13.6% on a year-over-year basis. On average, equities research analysts anticipate that Retail Opportunity Investments Corp. will post $0.35 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 14th were issued a $0.188 dividend. The ex-dividend date was Wednesday, September 13th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.88%. This is a positive change from Retail Opportunity Investments Corp.’s previous quarterly dividend of $0.19. Retail Opportunity Investments Corp.’s dividend payout ratio (DPR) is currently 227.28%.
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About Retail Opportunity Investments Corp.
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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