Louisiana State Employees Retirement System Takes $884,000 Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Louisiana State Employees Retirement System bought a new stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 63,000 shares of the real estate investment trust’s stock, valued at approximately $884,000. Louisiana State Employees Retirement System owned about 0.05% of Retail Opportunity Investments at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Illinois Municipal Retirement Fund bought a new position in shares of Retail Opportunity Investments in the third quarter valued at approximately $890,000. Qube Research & Technologies Ltd raised its stake in shares of Retail Opportunity Investments by 559.0% in the third quarter. Qube Research & Technologies Ltd now owns 189,585 shares of the real estate investment trust’s stock valued at $2,347,000 after acquiring an additional 160,818 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Retail Opportunity Investments by 7.5% in the third quarter. Nisa Investment Advisors LLC now owns 48,940 shares of the real estate investment trust’s stock valued at $606,000 after acquiring an additional 3,430 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Retail Opportunity Investments by 3.8% in the third quarter. Daiwa Securities Group Inc. now owns 40,240 shares of the real estate investment trust’s stock valued at $498,000 after acquiring an additional 1,477 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Retail Opportunity Investments by 4.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 206,066 shares of the real estate investment trust’s stock valued at $2,551,000 after acquiring an additional 9,094 shares during the last quarter. Institutional investors own 97.16% of the company’s stock.

Retail Opportunity Investments Price Performance

ROIC opened at $12.36 on Friday. The company has a fifty day moving average price of $12.65 and a two-hundred day moving average price of $12.92. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.38 and a current ratio of 1.38. Retail Opportunity Investments Corp. has a 52 week low of $10.98 and a 52 week high of $15.16. The firm has a market capitalization of $1.58 billion, a PE ratio of 41.00 and a beta of 1.42.

Retail Opportunity Investments (NASDAQ:ROIC) last released its earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.21). Retail Opportunity Investments had a return on equity of 2.74% and a net margin of 11.21%. The business had revenue of $84.60 million for the quarter, compared to analyst estimates of $81.09 million. During the same period in the prior year, the firm posted $0.27 EPS. Retail Opportunity Investments’s revenue was up 5.5% on a year-over-year basis. As a group, analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend is Friday, June 14th. Retail Opportunity Investments’s dividend payout ratio is presently 200.00%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ROIC. Bank of America reissued an “underperform” rating and issued a $12.00 price target (down previously from $14.50) on shares of Retail Opportunity Investments in a report on Friday, April 5th. StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. Finally, KeyCorp raised shares of Retail Opportunity Investments from a “sector weight” rating to an “overweight” rating and set a $16.00 price target for the company in a report on Friday, January 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.75.

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 December 31, 2023, ROIC owned 94 shopping centers encompassing approximately 10.6 million square feet.