Teachers Insurance & Annuity Association of America lessened its stake in Retail Opportunity Investments Corp (NASDAQ:ROIC) by 60.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,085 shares of the real estate investment trust’s stock after selling 62,822 shares during the quarter. Teachers Insurance & Annuity Association of America’s holdings in Retail Opportunity Investments were worth $703,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in Retail Opportunity Investments by 9.5% during the fourth quarter. Geode Capital Management LLC now owns 1,602,715 shares of the real estate investment trust’s stock worth $25,451,000 after acquiring an additional 138,664 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Retail Opportunity Investments by 7.1% during the 1st quarter. SG Americas Securities LLC now owns 34,599 shares of the real estate investment trust’s stock worth $600,000 after buying an additional 2,289 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Retail Opportunity Investments during the first quarter worth approximately $9,049,000. Rhumbline Advisers raised its position in shares of Retail Opportunity Investments by 1.3% during the first quarter. Rhumbline Advisers now owns 352,066 shares of the real estate investment trust’s stock worth $6,105,000 after purchasing an additional 4,448 shares during the period. Finally, Comerica Bank raised its position in shares of Retail Opportunity Investments by 1.7% during the first quarter. Comerica Bank now owns 120,541 shares of the real estate investment trust’s stock worth $2,129,000 after purchasing an additional 2,041 shares during the period. 95.54% of the stock is owned by institutional investors and hedge funds.
Shares of ROIC stock traded up $0.01 during mid-day trading on Thursday, hitting $18.42. The company’s stock had a trading volume of 1,485,412 shares, compared to its average volume of 896,165. Retail Opportunity Investments Corp has a 52-week low of $15.44 and a 52-week high of $19.31. The business has a 50-day moving average price of $17.87 and a 200 day moving average price of $17.44. The company has a debt-to-equity ratio of 1.16, a quick ratio of 4.36 and a current ratio of 4.36. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 3.75 and a beta of 0.72.
Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). Retail Opportunity Investments had a net margin of 15.28% and a return on equity of 3.50%. The firm had revenue of $72.93 million for the quarter, compared to the consensus estimate of $73.49 million. During the same period in the previous year, the company posted $0.27 earnings per share. Retail Opportunity Investments’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts predict that Retail Opportunity Investments Corp 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. Investors of record on Thursday, September 12th will be paid a $0.197 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $0.79 annualized dividend and a dividend yield of 4.28%. Retail Opportunity Investments’s dividend payout ratio is presently 69.30%.
A number of research firms recently commented on ROIC. Zacks Investment Research raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. ValuEngine upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. BidaskClub downgraded Retail Opportunity Investments from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 20th. BMO Capital Markets set a $18.00 target price on Retail Opportunity Investments and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Finally, DA Davidson restated a “buy” rating on shares of Retail Opportunity Investments in a research note on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $18.00.
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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