Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 17.7% during the 4th quarter, HoldingsChannel reports. The firm owned 101,725 shares of the real estate investment trust’s stock after acquiring an additional 15,298 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Retail Opportunity Investments were worth $1,427,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Retail Opportunity Investments by 0.4% in the third quarter. Vanguard Group Inc. now owns 19,819,688 shares of the real estate investment trust’s stock valued at $245,368,000 after purchasing an additional 71,258 shares during the period. Federated Hermes Inc. raised its position in Retail Opportunity Investments by 12.4% in the third quarter. Federated Hermes Inc. now owns 3,806,405 shares of the real estate investment trust’s stock valued at $47,123,000 after purchasing an additional 420,358 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in Retail Opportunity Investments by 45.5% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,830,264 shares of the real estate investment trust’s stock valued at $39,709,000 after purchasing an additional 884,914 shares during the period. Charles Schwab Investment Management Inc. raised its position in Retail Opportunity Investments by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,042,309 shares of the real estate investment trust’s stock valued at $25,284,000 after purchasing an additional 84,289 shares during the period. Finally, Schroder Investment Management Group purchased a new position in Retail Opportunity Investments in the third quarter valued at about $24,988,000. 97.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ROIC. Bank of America reaffirmed an “underperform” rating and set a $12.00 target price (down from $14.50) on shares of Retail Opportunity Investments in a research report on Friday, April 5th. StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, KeyCorp raised 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Retail Opportunity Investments has an average rating of “Hold” and an average price target of $14.75.

Retail Opportunity Investments Stock Down 0.3 %

NASDAQ:ROIC opened at $12.36 on Friday. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 41.20 and a beta of 1.42. Retail Opportunity Investments Corp. has a one year low of $10.98 and a one year high of $15.16. The stock has a 50-day simple moving average of $12.65 and a 200 day simple moving average of $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 (NASDAQ:ROIC) last posted 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). The firm had revenue of $84.60 million during the quarter, compared to analyst estimates of $81.09 million. Retail Opportunity Investments had a return on equity of 2.74% and a net margin of 11.21%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $0.27 earnings per share. Sell-side analysts predict that Retail Opportunity Investments Corp. will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

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