Mirae Asset Global Investments Co. Ltd. Acquires 3,736 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 6.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 58,564 shares of the real estate investment trust’s stock after purchasing an additional 3,736 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Retail Opportunity Investments were worth $822,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ROIC. Clear Street Markets LLC bought a new stake in Retail Opportunity Investments in the third quarter worth $29,000. Evergreen Capital Management LLC bought a new stake in Retail Opportunity Investments in the third quarter worth $126,000. Quadrature Capital Ltd bought a new position in shares of Retail Opportunity Investments during the third quarter valued at about $127,000. Schechter Investment Advisors LLC bought a new position in shares of Retail Opportunity Investments during the third quarter valued at about $149,000. Finally, Vanderbilt University bought a new position in shares of Retail Opportunity Investments during the fourth quarter valued at about $164,000. 97.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Bank of America reaffirmed an “underperform” rating and set a $12.00 price objective (down from $14.50) on shares of Retail Opportunity Investments in a research note on Friday, April 5th. StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note 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 objective for the company in a research note on Friday, January 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.75.

Retail Opportunity Investments Price Performance

ROIC stock opened at $12.40 on Thursday. Retail Opportunity Investments Corp. has a 1 year low of $10.98 and a 1 year high of $15.16. The company has a market cap of $1.58 billion, a P/E ratio of 45.96 and a beta of 1.42. The firm has a 50-day moving average of $12.66 and a 200 day moving average of $12.93. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.38 and a quick ratio of 1.38.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.21). Retail Opportunity Investments had a return on equity of 2.53% and a net margin of 10.54%. The company had revenue of $84.60 million during the quarter, compared to the consensus estimate of $81.09 million. During the same period in the previous year, the company earned $0.27 earnings per share. Retail Opportunity Investments’s quarterly revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts forecast that Retail Opportunity Investments Corp. will post 1.04 EPS for the current year.

Retail Opportunity Investments Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date was Thursday, March 14th. Retail Opportunity Investments’s payout ratio is currently 222.23%.

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