Mirae Asset Global Investments Co. Ltd. Boosts Holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 35.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,947 shares of the real estate investment trust’s stock after purchasing an additional 1,289 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Retail Opportunity Investments were worth $77,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in shares of Retail Opportunity Investments by 20.4% during the second quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock valued at $74,975,000 after buying an additional 1,020,314 shares during the last quarter. Centersquare Investment Management LLC boosted its stake in Retail Opportunity Investments by 6.5% during the 1st quarter. Centersquare Investment Management LLC now owns 9,319,113 shares of the real estate investment trust’s stock valued at $114,346,000 after purchasing an additional 571,370 shares during the last quarter. Lasalle Investment Management Securities LLC increased its holdings in shares of Retail Opportunity Investments by 14.8% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust’s stock worth $46,783,000 after purchasing an additional 469,905 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Retail Opportunity Investments by 12.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,181,551 shares of the real estate investment trust’s stock worth $40,787,000 after purchasing an additional 351,287 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Retail Opportunity Investments by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust’s stock valued at $254,040,000 after purchasing an additional 160,068 shares in the last quarter. 97.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. Bank of America began coverage on shares of Retail Opportunity Investments in a report on Thursday, October 24th. They set an “underperform” rating and a $14.00 price objective for the company. Wells Fargo & Company raised their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Finally, Raymond James lowered Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $15.50.

Retail Opportunity Investments Trading Up 7.8 %

Shares of ROIC stock opened at $16.80 on Tuesday. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 36.52 and a beta of 1.44. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a fifty day moving average price of $15.62 and a 200-day moving average price of $14.00. Retail Opportunity Investments Corp. has a 1 year low of $11.80 and a 1 year high of $17.17.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $83.50 million for the quarter, compared to analysts’ expectations of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 earnings per share. As a group, equities 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 Friday, January 10th. Investors of record on Friday, December 20th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio is currently 130.43%.

Retail Opportunity Investments Company 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.