Principal Financial Group Inc. Purchases 1,074,741 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Principal Financial Group Inc. boosted its position in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 158.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,753,614 shares of the real estate investment trust’s stock after buying an additional 1,074,741 shares during the quarter. Principal Financial Group Inc. owned approximately 1.39% of Retail Opportunity Investments worth $24,603,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Illinois Municipal Retirement Fund purchased a new stake in shares of Retail Opportunity Investments during the third quarter worth about $890,000. Qube Research & Technologies Ltd grew its position in shares of Retail Opportunity Investments by 559.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 189,585 shares of the real estate investment trust’s stock worth $2,347,000 after buying an additional 160,818 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Retail Opportunity Investments by 7.5% during the third quarter. Nisa Investment Advisors LLC now owns 48,940 shares of the real estate investment trust’s stock valued at $606,000 after buying an additional 3,430 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Retail Opportunity Investments by 3.8% during 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 acquiring an additional 1,477 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Retail Opportunity Investments by 4.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 206,066 shares of the real estate investment trust’s stock worth $2,551,000 after acquiring an additional 9,094 shares during the period. Institutional investors own 97.16% of the company’s stock.

Retail Opportunity Investments Stock Up 0.8 %

Shares of Retail Opportunity Investments stock opened at $12.75 on Monday. Retail Opportunity Investments Corp. has a 1 year low of $10.98 and a 1 year high of $15.16. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.07 and a quick ratio of 1.07. The company has a 50-day moving average of $12.49 and a 200 day moving average of $13.02. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 42.50 and a beta of 1.41.

Retail Opportunity Investments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, June 14th. This represents a $0.60 annualized dividend and a dividend yield of 4.71%. Retail Opportunity Investments’s payout ratio is 200.00%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ROIC. Bank of America reaffirmed an “underperform” rating and issued 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $14.75.

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.