Russell Investments Group Ltd. Lowers Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Russell Investments Group Ltd. lessened its stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 16.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,945 shares of the real estate investment trust’s stock after selling 8,666 shares during the quarter. Russell Investments Group Ltd.’s holdings in Retail Opportunity Investments were worth $627,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ROIC. Bank of New York Mellon Corp lifted its holdings in shares of Retail Opportunity Investments by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 1,719,813 shares of the real estate investment trust’s stock worth $33,347,000 after buying an additional 15,741 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Retail Opportunity Investments by 53.7% in the first quarter. MetLife Investment Management LLC now owns 64,279 shares of the real estate investment trust’s stock worth $1,246,000 after buying an additional 22,459 shares in the last quarter. Rhumbline Advisers raised its stake in Retail Opportunity Investments by 4.2% during the first quarter. Rhumbline Advisers now owns 362,689 shares of the real estate investment trust’s stock valued at $7,033,000 after purchasing an additional 14,577 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Retail Opportunity Investments by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 104,679 shares of the real estate investment trust’s stock valued at $2,030,000 after purchasing an additional 12,906 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in Retail Opportunity Investments by 1.0% during the first quarter. Great West Life Assurance Co. Can now owns 202,270 shares of the real estate investment trust’s stock valued at $4,043,000 after purchasing an additional 2,020 shares in the last quarter. Hedge funds and other institutional investors own 97.16% of the company’s stock.

Retail Opportunity Investments Trading Down 0.5 %

ROIC stock opened at $13.39 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.00. Retail Opportunity Investments Corp. has a twelve month low of $11.97 and a twelve month high of $17.50. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 36.19, a price-to-earnings-growth ratio of 3.32 and a beta of 1.40. The firm’s fifty day simple moving average is $13.94 and its two-hundred day simple moving average is $13.47.

Retail Opportunity Investments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Thursday, September 14th. Retail Opportunity Investments’s dividend payout ratio (DPR) is 162.16%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ROIC shares. StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 28th. 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 price target on the stock. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Retail Opportunity Investments presently has an average rating of “Hold” and a consensus target price of $15.50.

Insider Buying and Selling at Retail Opportunity Investments

In other news, Director Laura H. Pomerantz sold 4,000 shares of the company’s stock in a transaction dated 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 directly owns 51,557 shares in the company, valued at $693,957.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company 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 June 30, 2023, ROIC owned 93 shopping centers encompassing approximately 10.6 million square feet.