The Manufacturers Life Insurance Company Raises Stock Holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

The Manufacturers Life Insurance Company increased its position in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 4.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,625 shares of the real estate investment trust’s stock after buying an additional 2,823 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of Retail Opportunity Investments worth $1,064,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Arizona State Retirement System increased its stake in shares of Retail Opportunity Investments by 2.7% in the second quarter. Arizona State Retirement System now owns 35,555 shares of the real estate investment trust’s stock worth $442,000 after buying an additional 927 shares during the period. Creative Planning increased its position in Retail Opportunity Investments by 6.7% during the 3rd quarter. Creative Planning now owns 18,988 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 1,194 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Retail Opportunity Investments by 35.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 1,289 shares during the period. Van ECK Associates Corp increased its position in Retail Opportunity Investments by 7.4% during the 2nd quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock valued at $236,000 after purchasing an additional 1,307 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in Retail Opportunity Investments by 2.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 64,100 shares of the real estate investment trust’s stock valued at $797,000 after purchasing an additional 1,700 shares during the period. 97.16% of the stock is owned by hedge funds and other institutional investors.

Retail Opportunity Investments Stock Performance

Shares of Retail Opportunity Investments stock opened at $17.45 on Thursday. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 37.93 and a beta of 1.47. The firm’s 50-day moving average is $16.61 and its 200 day moving average is $14.92. Retail Opportunity Investments Corp. has a 1 year low of $11.87 and a 1 year high of $17.52. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The firm had revenue of $83.50 million during the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 EPS. Sell-side analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio is currently 130.43%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ROIC. Bank of America began coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They set an “underperform” rating and a $14.00 price objective on the stock. Raymond James downgraded shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. StockNews.com initiated coverage on shares of Retail Opportunity Investments in a research report on Thursday. They set a “hold” rating on the stock. Wells Fargo & Company boosted their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Finally, Baird R W cut shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.17.

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.