Retail Opportunity Investments (NASDAQ:ROIC – Free Report) had its price objective reduced by Wells Fargo & Company from $14.00 to $13.50 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.
Several other research analysts have also recently issued reports on the stock. StockNews.com raised shares of Retail Opportunity Investments from a sell rating to a hold rating in a report on Wednesday, February 14th. Bank of America reiterated an underperform rating and issued a $12.00 price target (down from $14.50) on shares of Retail Opportunity Investments in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $14.38.
Read Our Latest Analysis on ROIC
Retail Opportunity Investments Stock Down 0.2 %
Shares of Retail Opportunity Investments stock opened at $12.06 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $1.54 billion, a PE ratio of 40.20 and a beta of 1.41. Retail Opportunity Investments has a 52-week low of $10.98 and a 52-week high of $15.16. The company has a 50-day simple moving average of $12.42 and a two-hundred day simple moving average of $13.01.
Retail Opportunity Investments Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th will be paid a $0.15 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.98%. Retail Opportunity Investments’s dividend payout ratio is presently 200.00%.
Institutional Trading of Retail Opportunity Investments
Large investors have recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund bought a new stake in Retail Opportunity Investments during the third quarter valued at approximately $890,000. Qube Research & Technologies Ltd grew its position in Retail Opportunity Investments by 559.0% during the third quarter. Qube Research & Technologies Ltd now owns 189,585 shares of the real estate investment trust’s stock valued at $2,347,000 after buying an additional 160,818 shares during the period. Principal Financial Group Inc. grew its position in Retail Opportunity Investments by 158.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,753,614 shares of the real estate investment trust’s stock valued at $24,603,000 after buying an additional 1,074,741 shares during the period. Vanguard Group Inc. grew its position in Retail Opportunity Investments by 0.4% during the third quarter. Vanguard Group Inc. now owns 19,819,688 shares of the real estate investment trust’s stock valued at $245,368,000 after buying an additional 71,258 shares during the period. Finally, Lindbrook Capital LLC grew its position in Retail Opportunity Investments by 61.9% during the fourth quarter. Lindbrook Capital LLC now owns 2,514 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 961 shares during the period. 97.16% of the stock is currently owned by institutional investors.
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 December 31, 2023, ROIC owned 94 shopping centers encompassing approximately 10.6 million square feet.
Further Reading
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Source: defenseworld.net
