Lasalle Investment Management Securities LLC Raises Holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Lasalle Investment Management Securities LLC grew its stake in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 104.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,150,729 shares of the real estate investment trust’s stock after purchasing an additional 1,099,507 shares during the quarter. Retail Opportunity Investments makes up approximately 1.2% of Lasalle Investment Management Securities LLC’s portfolio, making the stock its 29th biggest position. Lasalle Investment Management Securities LLC owned 1.71% of Retail Opportunity Investments worth $30,024,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ROIC. Tower Research Capital LLC TRC boosted its holdings in shares of Retail Opportunity Investments by 189.7% during the first quarter. Tower Research Capital LLC TRC now owns 2,497 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 1,635 shares during the period. Signaturefd LLC grew its position in shares of Retail Opportunity Investments by 28.4% in the 1st quarter. Signaturefd LLC now owns 3,834 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 847 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Retail Opportunity Investments by 92.3% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,416 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 2,119 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Retail Opportunity Investments during the fourth quarter valued at approximately $92,000. Finally, UBS Group AG raised its holdings in shares of Retail Opportunity Investments by 116.3% during the fourth quarter. UBS Group AG now owns 6,294 shares of the real estate investment trust’s stock valued at $95,000 after acquiring an additional 44,883 shares in the last quarter. 97.16% of the stock is currently owned by institutional investors.

Retail Opportunity Investments Stock Performance

NASDAQ:ROIC traded down $0.04 during mid-day trading on Monday, reaching $13.42. The company’s stock had a trading volume of 193,900 shares, compared to its average volume of 1,025,592. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.00. The stock has a market cap of $1.69 billion, a P/E ratio of 36.38, a PEG ratio of 3.41 and a beta of 1.41. The firm’s fifty day moving average price is $13.95 and its two-hundred day moving average price is $13.42. Retail Opportunity Investments Corp. has a 12-month low of $11.97 and a 12-month high of $17.50.

Retail Opportunity Investments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 15th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Thursday, September 14th. Retail Opportunity Investments’s payout ratio is currently 162.16%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Raymond James raised shares of Retail Opportunity Investments from a “market perform” rating to an “outperform” rating and set a $16.00 price objective on the stock in a research report on Tuesday, September 5th. Wells Fargo & Company started coverage on shares of Retail Opportunity Investments in a research note on Tuesday, May 23rd. They issued an “overweight” rating and a $14.00 price target for the company. Finally, StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Tuesday, September 5th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.67.

Insider Activity at Retail Opportunity Investments

In related news, Director Laura H. Pomerantz sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $13.46, for a total value of $53,840.00. Following the transaction, the director now owns 51,557 shares of the company’s stock, valued at $693,957.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.00% of the stock is owned by company insiders.

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 June 30, 2023, ROIC owned 93 shopping centers encompassing approximately 10.6 million square feet.