ValuEngine upgraded shares of Retail Opportunity Investments (NASDAQ:ROIC) from a sell rating to a hold rating in a report issued on Tuesday morning, ValuEngine reports.

A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of W. R. Grace & Co from a buy rating to a hold rating in a research report on Wednesday, May 1st. BidaskClub raised shares of ZIX from a buy rating to a strong-buy rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $18.00.

Shares of NASDAQ:ROIC opened at $17.86 on Tuesday. The business has a fifty day moving average of $17.20. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 3.77 and a beta of 0.71. Retail Opportunity Investments has a one year low of $15.44 and a one year high of $19.80. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 1.14.

Retail Opportunity Investments (NASDAQ:ROIC) last released its earnings results on Wednesday, April 24th. The real estate investment trust reported $0.29 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. The company had revenue of $76.05 million for the quarter, compared to analyst estimates of $75.31 million. Retail Opportunity Investments had a net margin of 15.22% and a return on equity of 3.46%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 EPS. As a group, research analysts forecast that Retail Opportunity Investments will post 1.14 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were paid a dividend of $0.197 per share. The ex-dividend date was Wednesday, June 12th. This represents a $0.79 dividend on an annualized basis and a yield of 4.41%. Retail Opportunity Investments’s dividend payout ratio is currently 69.30%.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Retail Opportunity Investments by 3.0% during the 4th quarter. BlackRock Inc. now owns 19,898,702 shares of the real estate investment trust’s stock valued at $315,992,000 after purchasing an additional 573,022 shares in the last quarter. Federated Investors Inc. PA increased its stake in Retail Opportunity Investments by 14.2% during the 1st quarter. Federated Investors Inc. PA now owns 3,060,003 shares of the real estate investment trust’s stock valued at $53,060,000 after purchasing an additional 379,498 shares in the last quarter. Raymond James & Associates increased its stake in Retail Opportunity Investments by 9.2% during the 1st quarter. Raymond James & Associates now owns 1,665,102 shares of the real estate investment trust’s stock valued at $28,873,000 after purchasing an additional 140,319 shares in the last quarter. Geode Capital Management LLC increased its stake in Retail Opportunity Investments by 9.5% during the 4th quarter. Geode Capital Management LLC now owns 1,602,715 shares of the real estate investment trust’s stock valued at $25,451,000 after purchasing an additional 138,664 shares in the last quarter. Finally, Norges Bank bought a new stake in Retail Opportunity Investments during the 4th quarter valued at about $20,652,000. Institutional investors and hedge funds own 92.00% 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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