Pettee Investors Inc. bought a new stake in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 26,034 shares of the real estate investment trust’s stock, valued at approximately $495,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ROIC. Deprince Race & Zollo Inc. acquired a new position in Retail Opportunity Investments Corp. during the second quarter worth $32,598,000. Thompson Siegel & Walmsley LLC lifted its stake in Retail Opportunity Investments Corp. by 49.2% in the second quarter. Thompson Siegel & Walmsley LLC now owns 2,277,673 shares of the real estate investment trust’s stock valued at $43,709,000 after acquiring an additional 750,851 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Retail Opportunity Investments Corp. by 206.0% in the second quarter. Russell Investments Group Ltd. now owns 1,023,235 shares of the real estate investment trust’s stock valued at $19,635,000 after acquiring an additional 688,874 shares during the last quarter. Jennison Associates LLC lifted its stake in Retail Opportunity Investments Corp. by 52.4% in the second quarter. Jennison Associates LLC now owns 1,281,342 shares of the real estate investment trust’s stock valued at $24,589,000 after acquiring an additional 440,421 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Retail Opportunity Investments Corp. by 2.0% in the second quarter. BlackRock Inc. now owns 17,311,892 shares of the real estate investment trust’s stock valued at $332,216,000 after acquiring an additional 344,463 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

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Shares of Retail Opportunity Investments Corp. (NASDAQ ROIC) traded up $0.02 during midday trading on Thursday, hitting $18.76. 194,386 shares of the stock were exchanged, compared to its average volume of 946,256. Retail Opportunity Investments Corp. has a 1 year low of $17.87 and a 1 year high of $22.37. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.06. The firm has a market cap of $2,060.00, a P/E ratio of 16.91, a P/E/G ratio of 2.50 and a beta of 0.66.

Retail Opportunity Investments Corp. (NASDAQ:ROIC) last issued its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.21). Retail Opportunity Investments Corp. had a net margin of 14.13% and a return on equity of 2.86%. The company had revenue of $67.97 million during the quarter, compared to analyst estimates of $68.34 million. During the same quarter last year, the firm earned $0.26 EPS. The business’s revenue was up 14.5% on a year-over-year basis. sell-side analysts expect that Retail Opportunity Investments Corp. will post 1.13 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th will be given a dividend of $0.188 per share. This represents a $0.75 annualized dividend and a yield of 4.01%. The ex-dividend date is Wednesday, December 13th. Retail Opportunity Investments Corp.’s payout ratio is 241.94%.

A number of research firms have recently issued reports on ROIC. Jefferies Group LLC set a $20.00 target price on shares of Retail Opportunity Investments Corp. and gave the stock a “hold” rating in a research note on Tuesday, October 31st. Zacks Investment Research upgraded shares of Retail Opportunity Investments Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $22.00 price target on shares of Retail Opportunity Investments Corp. in a research report on Monday, October 30th. Citigroup Inc. decreased their target price on shares of Retail Opportunity Investments Corp. from $20.50 to $20.00 and set a “neutral” rating on the stock in a report on Monday, October 30th. Finally, KeyCorp reissued a “neutral” rating on shares of Retail Opportunity Investments Corp. in a report on Tuesday, October 24th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Retail Opportunity Investments Corp. presently has a consensus rating of “Hold” and a consensus target price of $22.00.

Retail Opportunity Investments Corp. 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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Institutional Ownership by Quarter for Retail Opportunity Investments Corp. (NASDAQ:ROIC)

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