SG Americas Securities LLC raised its stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC – Get Rating) by 46.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,467 shares of the real estate investment trust’s stock after purchasing an additional 19,453 shares during the quarter. SG Americas Securities LLC’s holdings in Retail Opportunity Investments were worth $1,192,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of ROIC. State Street Corp boosted its stake in shares of Retail Opportunity Investments by 4.1% in the fourth quarter. State Street Corp now owns 6,594,760 shares of the real estate investment trust’s stock valued at $130,478,000 after purchasing an additional 261,930 shares during the period. Millennium Management LLC grew its stake in shares of Retail Opportunity Investments by 51.2% during the fourth quarter. Millennium Management LLC now owns 3,142,352 shares of the real estate investment trust’s stock valued at $61,590,000 after acquiring an additional 1,063,495 shares in the last quarter. Land & Buildings Investment Management LLC increased its position in shares of Retail Opportunity Investments by 28.7% during the fourth quarter. Land & Buildings Investment Management LLC now owns 3,078,950 shares of the real estate investment trust’s stock worth $60,347,000 after acquiring an additional 687,460 shares during the last quarter. Waterfront Capital Partners LLC acquired a new position in shares of Retail Opportunity Investments in the fourth quarter worth about $42,934,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Retail Opportunity Investments by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,676,022 shares of the real estate investment trust’s stock valued at $32,850,000 after purchasing an additional 29,382 shares during the last quarter. Institutional investors and hedge funds own 96.17% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on ROIC shares. Jefferies Financial Group dropped their price objective on Retail Opportunity Investments from $20.00 to $15.00 in a report on Thursday, June 30th. Capital One Financial reaffirmed an “equal weight” rating on shares of Retail Opportunity Investments in a report on Monday, April 18th. StockNews.com lowered shares of Retail Opportunity Investments from a “hold” rating to a “sell” rating in a report on Thursday. TheStreet upgraded shares of Retail Opportunity Investments from a “c+” rating to a “b-” rating in a research note on Monday, April 25th. Finally, Wells Fargo & Company lifted their price target on Retail Opportunity Investments from $17.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, April 7th.
Retail Opportunity Investments Stock Performance
ROIC stock opened at $17.46 on Friday. The firm has a market cap of $2.17 billion, a P/E ratio of 37.15, a P/E/G ratio of 1.98 and a beta of 1.37. The stock’s 50 day simple moving average is $16.53 and its 200 day simple moving average is $17.89. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.95. Retail Opportunity Investments Corp. has a 12-month low of $15.06 and a 12-month high of $20.09.
Retail Opportunity Investments (NASDAQ:ROIC – Get Rating) last issued its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.17). Retail Opportunity Investments had a return on equity of 4.26% and a net margin of 19.81%. During the same quarter last year, the firm earned $0.25 EPS. As a group, equities research analysts predict that Retail Opportunity Investments Corp. will post 1.09 EPS for the current year.
Retail Opportunity Investments Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, September 16th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 15th. This is a positive change from Retail Opportunity Investments’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 3.44%. Retail Opportunity Investments’s dividend payout ratio is 110.64%.
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 September 30, 2020, ROIC owned 88 shopping centers encompassing approximately 10.1 million square feet.
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