Allspring Global Investments Holdings LLC lowered its holdings in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC – Free Report) by 22.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,972 shares of the real estate investment trust’s stock after selling 55,696 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.16% of Retail Opportunity Investments worth $2,661,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Retail Opportunity Investments by 3.2% in the first quarter. BlackRock Inc. now owns 23,294,963 shares of the real estate investment trust’s stock worth $325,198,000 after buying an additional 713,120 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Retail Opportunity Investments by 1.9% in the third quarter. Vanguard Group Inc. now owns 19,702,232 shares of the real estate investment trust’s stock worth $271,103,000 after buying an additional 366,091 shares in the last quarter. State Street Corp lifted its stake in shares of Retail Opportunity Investments by 1.8% in the second quarter. State Street Corp now owns 7,517,150 shares of the real estate investment trust’s stock worth $119,552,000 after buying an additional 134,483 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Retail Opportunity Investments by 42.1% in the first quarter. Federated Hermes Inc. now owns 3,435,254 shares of the real estate investment trust’s stock worth $47,956,000 after buying an additional 1,017,352 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Retail Opportunity Investments by 2.9% in the first quarter. Geode Capital Management LLC now owns 2,713,752 shares of the real estate investment trust’s stock worth $37,884,000 after buying an additional 76,881 shares in the last quarter. Institutional investors own 97.16% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on ROIC shares. Wells Fargo & Company downgraded shares of Retail Opportunity Investments from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $14.00 to $15.00 in a research note on Wednesday, September 20th. StockNews.com cut shares of Retail Opportunity Investments from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. Finally, Raymond James raised shares of Retail Opportunity Investments from a “market perform” rating to an “outperform” rating and set a $16.00 price objective for the company in a report on Tuesday, September 5th.
Insider Buying and Selling at Retail Opportunity Investments
In other Retail Opportunity Investments news, Director Laura H. Pomerantz sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $13.46, for a total transaction of $53,840.00. Following the completion of the sale, the director now directly owns 51,557 shares of the company’s stock, valued at $693,957.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.00% of the stock is owned by corporate insiders.
Retail Opportunity Investments Stock Up 3.6 %
ROIC opened at $12.81 on Monday. 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 has a 50 day moving average price of $12.54 and a 200-day moving average price of $13.10. Retail Opportunity Investments Corp. has a twelve month low of $10.98 and a twelve month high of $16.37. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 44.17, a PEG ratio of 7.33 and a beta of 1.43.
Retail Opportunity Investments (NASDAQ:ROIC – Get Free Report) last announced its earnings results on Tuesday, October 24th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.20). Retail Opportunity Investments had a net margin of 11.35% and a return on equity of 2.68%. The business had revenue of $78.27 million for the quarter, compared to analysts’ expectations of $80.99 million. During the same period in the prior year, the company posted $0.27 earnings per share. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. Equities research 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 announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders 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 yield of 4.68%. Retail Opportunity Investments’s dividend payout ratio is currently 206.90%.
Retail Opportunity Investments 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.
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