Franklin Resources Inc. Sells 73,864 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Franklin Resources Inc. trimmed its holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 55.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,257 shares of the real estate investment trust’s stock after selling 73,864 shares during the period. Franklin Resources Inc.’s holdings in Retail Opportunity Investments were worth $945,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. increased its position in Retail Opportunity Investments by 1.3% during the third quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust’s stock worth $96,072,000 after buying an additional 75,803 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Retail Opportunity Investments by 2.9% during the 2nd quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock valued at $56,652,000 after acquiring an additional 127,799 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Retail Opportunity Investments by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,290,973 shares of the real estate investment trust’s stock valued at $51,776,000 after acquiring an additional 24,421 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Retail Opportunity Investments by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,347,118 shares of the real estate investment trust’s stock worth $36,920,000 after purchasing an additional 85,037 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Retail Opportunity Investments by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,834,124 shares of the real estate investment trust’s stock worth $22,798,000 after purchasing an additional 39,980 shares during the period. Institutional investors and hedge funds own 97.16% of the company’s stock.

Retail Opportunity Investments Price Performance

Shares of NASDAQ:ROIC opened at $17.35 on Friday. The firm has a market capitalization of $2.23 billion, a PE ratio of 37.72 and a beta of 1.47. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04. Retail Opportunity Investments Corp. has a 1-year low of $11.87 and a 1-year high of $17.52. The business’s 50 day moving average is $17.01 and its 200-day moving average is $15.32.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings results 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). Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The business had revenue of $83.50 million for the quarter, compared to analyst estimates of $82.13 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The firm’s quarterly revenue was up 2.5% 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 firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 130.43%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Raymond James cut shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. BMO Capital Markets upped their price target on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a report on Friday, November 8th. KeyCorp lowered Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. Robert W. Baird restated a “neutral” rating and set a $17.50 target price (up previously from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. Finally, StockNews.com began coverage on Retail Opportunity Investments in a report on Saturday. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, Retail Opportunity Investments currently has an average 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.