Retail Opportunity Investments Corp. (NASDAQ:ROIC) Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) from a hold rating to a sell rating in a research note published on Tuesday.

According to Zacks, “Retail Opportunity Investments Corp. is a corporation that intends to qualify as a REIT for U.S. federal incoming tax purposes and that expects to invest in, acquire, own, lease, reposition and manage a diverse portfolio of necessity-based retail properties. This includes primarily, well located community and neighborhood shopping centers, anchored by national or regional supermarkets and drugstores. The company may also acquire other retail properties, including power centers, regional malls lifestyle centers and single-tenant retail locations that are leased to national, regional and local tenants. In addition, the Company may supplement its direct purchases of retail properties with first mortgages or second mortgages, mezzanine loans, bridge or other loans or debt investments related to retail properties, in each case provided that the underlying real estate meets the Company’s criteria for direct investment. “

Several other research firms have also issued reports on ROIC. BidaskClub upgraded shares of Retail Opportunity Investments Corp. from a sell rating to a hold rating in a report on Sunday, July 16th. Citigroup Inc. restated a neutral rating and issued a $21.00 target price (down previously from $22.00) on shares of Retail Opportunity Investments Corp. in a report on Tuesday, June 6th. Canaccord Genuity restated a buy rating and issued a $26.00 target price on shares of Retail Opportunity Investments Corp. in a report on Thursday, April 27th. Jefferies Group LLC restated a buy rating and issued a $26.00 target price on shares of Retail Opportunity Investments Corp. in a report on Friday, May 12th. Finally, TheStreet lowered shares of Retail Opportunity Investments Corp. from a b rating to a c+ rating in a report on Friday, April 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $23.14.

Shares of Retail Opportunity Investments Corp. (ROIC) opened at 20.03 on Tuesday. Retail Opportunity Investments Corp. has a 52 week low of $18.45 and a 52 week high of $22.98.

Retail Opportunity Investments Corp. (NASDAQ:ROIC) last issued its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by $0.01. Retail Opportunity Investments Corp. had a return on equity of 2.71% and a net margin of 13.92%. The business had revenue of $66.64 million during the quarter, compared to the consensus estimate of $66.18 million. During the same period in the prior year, the firm earned $0.27 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, analysts expect that Retail Opportunity Investments Corp. will post $0.37 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be given a dividend of $0.188 per share. The ex-dividend date of this dividend is Wednesday, September 13th. This is an increase from Retail Opportunity Investments Corp.’s previous quarterly dividend of $0.19. This represents a $0.75 annualized dividend and a dividend yield of 3.75%. Retail Opportunity Investments Corp.’s payout ratio is presently 227.28%.

Large investors have recently modified their holdings of the company. Tyers Asset Management LLC increased its stake in shares of Retail Opportunity Investments Corp. by 0.4% in the first quarter. Tyers Asset Management LLC now owns 5,808 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 22 shares during the last quarter. Flinton Capital Management LLC increased its position in Retail Opportunity Investments Corp. by 0.4% in the first quarter. Flinton Capital Management LLC now owns 7,392 shares of the real estate investment trust’s stock worth $155,000 after buying an additional 28 shares in the last quarter. Neuburgh Advisers LLC increased its position in Retail Opportunity Investments Corp. by 0.4% in the first quarter. Neuburgh Advisers LLC now owns 8,976 shares of the real estate investment trust’s stock worth $189,000 after buying an additional 34 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its position in Retail Opportunity Investments Corp. by 0.9% in the first quarter. Nicholas Hoffman & Company LLC. now owns 10,857 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 96 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Retail Opportunity Investments Corp. by 1.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,985 shares of the real estate investment trust’s stock worth $357,000 after buying an additional 180 shares in the last quarter. 96.55% of the stock is owned by institutional investors and hedge funds.

About Retail Opportunity Investments Corp.

Retail Opportunity Investments Corp. (ROIC) is a fully integrated, self-managed real estate investment trust (REIT). The Company specializes in the acquisition, ownership and management of necessity-based community and neighborhood shopping centers on the west coast of the United States, anchored by supermarkets and drugstores.

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