Louisiana State Employees Retirement System Purchases Shares of 63,000 Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Louisiana State Employees Retirement System acquired a new stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC) during the fourth quarter, Holdings Channel.com reports. The fund acquired 63,000 shares of the real estate investment trust’s stock, valued at approximately $884,000.

A number of other hedge funds have also added to or reduced their stakes in the company. abrdn plc increased its stake in Retail Opportunity Investments by 4.1% in the third quarter. abrdn plc now owns 24,899 shares of the real estate investment trust’s stock valued at $308,000 after acquiring an additional 992 shares during the last quarter. Inspire Investing LLC increased its stake in Retail Opportunity Investments by 4.6% in the third quarter. Inspire Investing LLC now owns 24,609 shares of the real estate investment trust’s stock valued at $305,000 after acquiring an additional 1,093 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in Retail Opportunity Investments by 10.6% in the third quarter. Sequoia Financial Advisors LLC now owns 14,176 shares of the real estate investment trust’s stock valued at $175,000 after acquiring an additional 1,358 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Retail Opportunity Investments by 3.8% in the third quarter. Daiwa Securities Group Inc. now owns 40,240 shares of the real estate investment trust’s stock valued at $498,000 after buying an additional 1,477 shares in the last quarter. Finally, UniSuper Management Pty Ltd boosted its position in Retail Opportunity Investments by 4.4% in the third quarter. UniSuper Management Pty Ltd now owns 35,400 shares of the real estate investment trust’s stock valued at $438,000 after buying an additional 1,500 shares in the last quarter. 97.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

ROIC has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. KeyCorp upgraded shares of Retail Opportunity Investments from a “sector weight” rating to an “overweight” rating and set a $16.00 target price on the stock in a research report on Friday, January 5th. Finally, Bank of America restated an “underperform” rating and issued a $12.00 target price (down previously from $14.50) on shares of Retail Opportunity Investments in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Retail Opportunity Investments currently has a consensus rating of “Hold” and an average price target of $14.75.

Retail Opportunity Investments Price Performance

Shares of NASDAQ:ROIC opened at $12.36 on Friday. The firm has a market cap of $1.58 billion, a PE ratio of 41.00 and a beta of 1.42. The firm’s fifty day moving average is $12.65 and its 200-day moving average is $12.92. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.38 and a current ratio of 1.38. Retail Opportunity Investments Corp. has a 52 week low of $10.98 and a 52 week high of $15.16.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.21). Retail Opportunity Investments had a return on equity of 2.74% and a net margin of 11.21%. The business had revenue of $84.60 million for the quarter, compared to analyst estimates of $81.09 million. During the same quarter last year, the firm posted $0.27 EPS. Retail Opportunity Investments’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts predict that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend is Friday, June 14th. Retail Opportunity Investments’s dividend payout ratio is presently 200.00%.

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