Bank of Nova Scotia Takes Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Bank of Nova Scotia bought a new stake in Retail Opportunity Investments Corp. (NASDAQ:ROICGet Rating) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,372 shares of the real estate investment trust’s stock, valued at approximately $179,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Retail Opportunity Investments by 1.6% in the first quarter. Vanguard Group Inc. now owns 19,238,939 shares of the real estate investment trust’s stock valued at $373,043,000 after purchasing an additional 297,686 shares during the period. State Street Corp raised its holdings in Retail Opportunity Investments by 11.9% in the first quarter. State Street Corp now owns 7,382,667 shares of the real estate investment trust’s stock valued at $144,090,000 after acquiring an additional 787,907 shares in the last quarter. Federated Hermes Inc. raised its holdings in Retail Opportunity Investments by 10.7% in the first quarter. Federated Hermes Inc. now owns 3,222,421 shares of the real estate investment trust’s stock valued at $62,483,000 after acquiring an additional 312,668 shares in the last quarter. Ranger Global Real Estate Advisors LLC raised its holdings in Retail Opportunity Investments by 3.2% in the first quarter. Ranger Global Real Estate Advisors LLC now owns 2,795,694 shares of the real estate investment trust’s stock valued at $54,209,000 after acquiring an additional 87,303 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Retail Opportunity Investments by 27.3% in the second quarter. Jennison Associates LLC now owns 2,070,858 shares of the real estate investment trust’s stock valued at $32,678,000 after acquiring an additional 444,250 shares in the last quarter. 96.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Citigroup cut shares of Retail Opportunity Investments from a “buy” rating to a “neutral” rating and cut their price target for the company from $19.00 to $17.00 in a report on Monday, September 19th. TheStreet cut shares of Retail Opportunity Investments from a “b-” rating to a “c+” rating in a report on Tuesday, October 25th. Finally, StockNews.com began coverage on shares of Retail Opportunity Investments in a report on Wednesday, October 12th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.00.

Retail Opportunity Investments Stock Down 0.5 %

Shares of NASDAQ:ROIC opened at $14.97 on Tuesday. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 37.43, a price-to-earnings-growth ratio of 2.21 and a beta of 1.37. Retail Opportunity Investments Corp. has a 1-year low of $13.35 and a 1-year high of $20.09. The company’s fifty day moving average is $14.48 and its two-hundred day moving average is $16.07. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.12 and a current ratio of 1.12.

Retail Opportunity Investments Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 15th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, December 14th. This represents a $0.60 annualized dividend and a dividend yield of 4.01%. Retail Opportunity Investments’s dividend payout ratio is currently 150.00%.

About Retail Opportunity Investments

(Get Rating)

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 September 30, 2020, ROIC owned 88 shopping centers encompassing approximately 10.1 million square feet.

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

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