Shares of Retail Opportunity Investments Corp (NASDAQ:ROIC) have been given an average rating of “Hold” by the thirteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $19.79.
Several research firms recently commented on ROIC. ValuEngine downgraded Retail Opportunity Investments from a “hold” rating to a “sell” rating in a report on Monday, July 16th. BidaskClub upgraded Retail Opportunity Investments from a “strong sell” rating to a “sell” rating in a report on Friday, June 15th. Zacks Investment Research downgraded Retail Opportunity Investments from a “hold” rating to a “sell” rating in a report on Thursday, July 5th. Wells Fargo & Co lifted their price objective on Retail Opportunity Investments from $16.50 to $18.00 and gave the stock a “market perform” rating in a report on Tuesday, July 31st. Finally, JPMorgan Chase & Co. downgraded Retail Opportunity Investments from a “neutral” rating to an “underweight” rating in a report on Friday, June 15th.
Shares of NASDAQ:ROIC traded up $0.11 on Thursday, hitting $18.30. 23,873 shares of the company traded hands, compared to its average volume of 810,200. Retail Opportunity Investments has a 52 week low of $16.17 and a 52 week high of $20.14. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.74 and a quick ratio of 3.74. The company has a market capitalization of $2.08 billion, a PE ratio of 16.08, a PEG ratio of 2.59 and a beta of 0.56.
Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.23). Retail Opportunity Investments had a net margin of 13.23% and a return on equity of 2.90%. The company had revenue of $72.34 million for the quarter, compared to the consensus estimate of $73.23 million. During the same quarter in the previous year, the business earned $0.27 earnings per share. Retail Opportunity Investments’s revenue was up 8.6% compared to the same quarter last year. sell-side analysts anticipate that Retail Opportunity Investments will post 1.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Thursday, September 13th will be given a $0.195 dividend. The ex-dividend date is Wednesday, September 12th. This represents a $0.78 annualized dividend and a yield of 4.26%. Retail Opportunity Investments’s payout ratio is 68.42%.
A number of large investors have recently made changes to their positions in ROIC. Brown Advisory Inc. purchased a new position in Retail Opportunity Investments in the first quarter worth about $188,000. Raymond James Trust N.A. purchased a new position in Retail Opportunity Investments in the second quarter worth about $195,000. OppenheimerFunds Inc. purchased a new position in Retail Opportunity Investments in the second quarter worth about $196,000. Profund Advisors LLC boosted its position in Retail Opportunity Investments by 25.6% in the first quarter. Profund Advisors LLC now owns 20,640 shares of the real estate investment trust’s stock worth $365,000 after purchasing an additional 4,201 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its position in Retail Opportunity Investments by 81.6% in the first quarter. Xact Kapitalforvaltning AB now owns 20,697 shares of the real estate investment trust’s stock worth $366,000 after purchasing an additional 9,300 shares during the last quarter.
About Retail Opportunity Investments
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 June 30, 2018, ROIC owned 92 shopping centers encompassing approximately 10.6 million square feet.
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