Shares of Retail Opportunity Investments Corp (NASDAQ:ROIC) have received an average rating of “Buy” from the five research firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $18.00.
Several brokerages have recently commented on ROIC. DA Davidson reiterated a “buy” rating on shares of Retail Opportunity Investments in a research report on Monday, July 29th. BMO Capital Markets set a $18.00 price target on shares of Retail Opportunity Investments and gave the stock a “hold” rating in a research report on Wednesday, July 24th. ValuEngine upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Zacks Investment Research upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, BidaskClub upgraded shares of Retail Opportunity Investments from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th.
Institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its stake in Retail Opportunity Investments by 765.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,852 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 1,638 shares during the last quarter. Advisory Services Network LLC boosted its stake in Retail Opportunity Investments by 2,023.9% during the 2nd quarter. Advisory Services Network LLC now owns 2,400 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 2,287 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Retail Opportunity Investments by 1,542.1% during the 1st quarter. Quadrant Capital Group LLC now owns 3,005 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 2,822 shares during the last quarter. HM Payson & Co. bought a new position in Retail Opportunity Investments during the 2nd quarter worth approximately $51,000. Finally, Nisa Investment Advisors LLC bought a new position in Retail Opportunity Investments during the 1st quarter worth approximately $92,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.
Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.26 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.02). Retail Opportunity Investments had a return on equity of 3.50% and a net margin of 15.28%. The business had revenue of $72.93 million for the quarter, compared to analyst estimates of $73.49 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Retail Opportunity Investments will post 1.13 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be given a dividend of $0.197 per share. This represents a $0.79 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend is Wednesday, September 11th. Retail Opportunity Investments’s dividend payout ratio is 69.30%.
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 March 31, 2019, ROIC owned 90 shopping centers encompassing approximately 10.3 million square feet.
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