Retail Opportunity Investments (NASDAQ:ROIC) Upgraded to “Outperform” by Raymond James

Raymond James upgraded shares of Retail Opportunity Investments (NASDAQ:ROIC) from a market perform rating to an outperform rating in a research report sent to investors on Tuesday morning, Marketbeat reports. They currently have $16.00 target price on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on the company. Wells Fargo & Company started coverage on Retail Opportunity Investments in a research report on Tuesday, May 23rd. They set an overweight rating and a $14.00 price objective for the company. StockNews.com raised Retail Opportunity Investments from a sell rating to a hold rating in a research report on Monday, August 28th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $15.67.

Retail Opportunity Investments Stock Down 0.3 %

NASDAQ:ROIC opened at $13.35 on Tuesday. Retail Opportunity Investments has a 1 year low of $11.97 and a 1 year high of $17.50. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.00. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 3.37 and a beta of 1.41. The stock has a 50-day moving average price of $13.95 and a two-hundred day moving average price of $13.44.

Retail Opportunity Investments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 15th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.60 annualized dividend and a dividend yield of 4.49%. Retail Opportunity Investments’s dividend payout ratio is currently 162.16%.

Insider Activity at Retail Opportunity Investments

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

Institutional Trading of Retail Opportunity Investments

A number of hedge funds have recently made changes to their positions in the business. Strategy Asset Managers LLC lifted its position in shares of Retail Opportunity Investments by 117.2% in the second quarter. Strategy Asset Managers LLC now owns 555,659 shares of the real estate investment trust’s stock valued at $7,507,000 after buying an additional 299,791 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new stake in shares of Retail Opportunity Investments in the second quarter valued at approximately $465,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of Retail Opportunity Investments by 5.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 40,471 shares of the real estate investment trust’s stock valued at $547,000 after buying an additional 2,187 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Retail Opportunity Investments by 36.8% in the second quarter. Wells Fargo & Company MN now owns 63,156 shares of the real estate investment trust’s stock valued at $853,000 after buying an additional 16,996 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Retail Opportunity Investments by 0.5% in the second quarter. Public Employees Retirement System of Ohio now owns 169,099 shares of the real estate investment trust’s stock valued at $2,285,000 after buying an additional 854 shares during the last quarter. 97.16% of the stock is owned by institutional investors and hedge funds.

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.