Principal Financial Group Inc. Lowers Holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Principal Financial Group Inc. trimmed its holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 751,851 shares of the real estate investment trust’s stock after selling 9,112 shares during the quarter. Principal Financial Group Inc. owned 0.60% of Retail Opportunity Investments worth $10,496,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its holdings in Retail Opportunity Investments by 189.7% in 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 purchasing an additional 1,635 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Retail Opportunity Investments by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,546,192 shares of the real estate investment trust’s stock worth $21,585,000 after acquiring an additional 7,095 shares in the last quarter. Wolverine Asset Management LLC boosted its stake in shares of Retail Opportunity Investments by 21.2% during the 1st quarter. Wolverine Asset Management LLC now owns 34,589 shares of the real estate investment trust’s stock worth $483,000 after acquiring an additional 6,040 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Retail Opportunity Investments by 42.1% during the 1st quarter. Federated Hermes Inc. now owns 3,435,254 shares of the real estate investment trust’s stock worth $47,956,000 after acquiring an additional 1,017,352 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Retail Opportunity Investments by 17.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,427 shares of the real estate investment trust’s stock worth $578,000 after acquiring an additional 6,286 shares in the last quarter. 97.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ROIC shares. Wells Fargo & Company started coverage on shares of Retail Opportunity Investments in a research note on Tuesday, May 23rd. They set an “overweight” rating and a $14.00 target price on the stock. StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $15.50.

Retail Opportunity Investments Trading Up 0.8 %

Shares of Retail Opportunity Investments stock opened at $13.17 on Tuesday. The firm has a market capitalization of $1.66 billion, a PE ratio of 35.59, a P/E/G ratio of 3.29 and a beta of 1.40. Retail Opportunity Investments Corp. has a twelve month low of $11.97 and a twelve month high of $17.50. The firm’s 50-day moving average price is $13.93 and its 200 day moving average price is $13.51. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.00.

Retail Opportunity Investments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date of this dividend is Thursday, September 14th. Retail Opportunity Investments’s dividend payout ratio is presently 162.16%.

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.