Cambria Investment Management L.P. reduced its stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC – Free Report) by 9.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,000 shares of the real estate investment trust’s stock after selling 2,000 shares during the period. Cambria Investment Management L.P.’s holdings in Retail Opportunity Investments were worth $257,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its stake 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 valued at $35,000 after acquiring an additional 1,635 shares in the last quarter. Signaturefd LLC grew its stake in shares of Retail Opportunity Investments by 28.4% during the first 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 in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Retail Opportunity Investments during the fourth quarter valued at about $92,000. UBS Group AG grew its stake 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. Finally, Bessemer Group Inc. grew its stake in Retail Opportunity Investments by 3,932.3% in the fourth quarter. Bessemer Group Inc. now owns 10,000 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 9,752 shares in the last quarter. 97.16% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on ROIC shares. StockNews.com downgraded Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Bank of America downgraded Retail Opportunity Investments from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $15.00 to $13.00 in a research note on Monday, November 6th. Raymond James upgraded Retail Opportunity Investments from a “market perform” rating to an “outperform” rating and set a $16.00 price target for the company in a research note on Tuesday, September 5th. Finally, Wells Fargo & Company downgraded Retail Opportunity Investments from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $14.00 to $15.00 in a research note on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Retail Opportunity Investments has a consensus rating of “Hold” and a consensus price target of $14.67.
Retail Opportunity Investments Stock Performance
Shares of NASDAQ ROIC opened at $12.21 on Friday. The company has a quick ratio of 4.13, a current ratio of 4.13 and a debt-to-equity ratio of 1.14. The firm’s 50-day moving average price is $12.30 and its two-hundred day moving average price is $13.05. Retail Opportunity Investments Corp. has a 52-week low of $10.98 and a 52-week high of $16.37. The stock has a market capitalization of $1.54 billion, a P/E ratio of 42.10, a P/E/G ratio of 7.17 and a beta of 1.43.
Retail Opportunity Investments (NASDAQ:ROIC – Get Free Report) last issued its earnings results on Tuesday, October 24th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.20). Retail Opportunity Investments had a return on equity of 2.68% and a net margin of 11.35%. The business had revenue of $78.27 million during the quarter, compared to the consensus estimate of $80.99 million. During the same period in the prior year, the business earned $0.27 EPS. The business’s revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts forecast that Retail Opportunity Investments Corp. will post 1.06 earnings per share for the current year.
Retail Opportunity Investments Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.91%. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 206.90%.
In other news, Director Laura H. Pomerantz sold 4,000 shares of Retail Opportunity Investments stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $13.46, for a total transaction of $53,840.00. Following the sale, the director now owns 51,557 shares of the company’s stock, valued at $693,957.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.00% of the company’s stock.
Retail Opportunity Investments Company 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 September 30, 2023, ROIC owned 93 shopping centers encompassing approximately 10.6 million square feet.
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