Phocas Financial Corp. Decreases Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Phocas Financial Corp. cut its stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 594,102 shares of the real estate investment trust’s stock after selling 11,503 shares during the quarter. Retail Opportunity Investments makes up approximately 1.1% of Phocas Financial Corp.’s portfolio, making the stock its 24th largest holding. Phocas Financial Corp. owned approximately 0.47% of Retail Opportunity Investments worth $8,026,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its stake in Retail Opportunity Investments by 189.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,497 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 1,635 shares in the last quarter. Cerity Partners LLC acquired a new stake in Retail Opportunity Investments in the 1st quarter valued at about $1,434,000. Signaturefd LLC raised its holdings in 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 valued at $54,000 after acquiring an additional 847 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in 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 valued at $59,000 after acquiring an additional 2,119 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Retail Opportunity Investments in the 4th quarter valued at about $92,000. 97.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Retail Opportunity Investments

In related news, Director Laura H. Pomerantz sold 4,000 shares of Retail Opportunity Investments 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 completion of the sale, the director now owns 51,557 shares in the company, valued at approximately $693,957.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.80% of the company’s stock.

Retail Opportunity Investments Trading Up 0.1 %

Shares of NASDAQ ROIC traded up $0.01 during midday trading on Tuesday, reaching $13.53. 224,271 shares of the stock were exchanged, compared to its average volume of 1,047,551. The company has a 50 day simple moving average of $13.98 and a 200 day simple moving average of $13.40. The stock has a market capitalization of $1.70 billion, a P/E ratio of 36.54, a PEG ratio of 3.50 and a beta of 1.41. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.48 and a current ratio of 1.48. Retail Opportunity Investments Corp. has a twelve month low of $11.97 and a twelve month high of $16.37.

Retail Opportunity Investments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.43%. Retail Opportunity Investments’s dividend payout ratio is currently 162.16%.

Analyst Ratings Changes

ROIC has been the subject of a number of recent research reports. StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Tuesday, September 5th. Wells Fargo & Company initiated coverage on shares of Retail Opportunity Investments in a report on Tuesday, May 23rd. They issued an “overweight” rating and a $14.00 price objective for the company. Finally, Raymond James upgraded shares of Retail Opportunity Investments from a “market perform” rating to an “outperform” rating and set a $16.00 price objective for the company in a report on Tuesday, September 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Retail Opportunity Investments presently has a consensus rating of “Hold” and a consensus price target of $15.67.

Retail Opportunity Investments Profile

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.