Retail Opportunity Investments Corp. (NASDAQ:ROIC) – Equities researchers at KeyCorp issued their Q2 2021 earnings estimates for Retail Opportunity Investments in a note issued to investors on Wednesday, April 28th. KeyCorp analyst T. Thomas anticipates that the real estate investment trust will post earnings of $0.24 per share for the quarter. KeyCorp also issued estimates for Retail Opportunity Investments’ Q3 2021 earnings at $0.25 EPS, Q4 2021 earnings at $0.25 EPS, Q1 2022 earnings at $0.26 EPS, Q2 2022 earnings at $0.26 EPS, Q3 2022 earnings at $0.26 EPS and Q4 2022 earnings at $0.27 EPS.
Other equities research analysts have also recently issued research reports about the company. Bank of America upgraded Retail Opportunity Investments from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $11.75 to $16.00 in a research note on Tuesday, January 19th. DA Davidson lifted their price target on Retail Opportunity Investments from $12.00 to $18.00 in a research report on Wednesday, February 24th. Wells Fargo & Company lifted their price target on Retail Opportunity Investments from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 23rd. Zacks Investment Research raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Saturday, April 3rd. Finally, Robert W. Baird started coverage on Retail Opportunity Investments in a research report on Tuesday, April 13th. They set an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Retail Opportunity Investments has an average rating of “Hold” and an average target price of $13.56.
ROIC stock opened at $17.69 on Monday. The business has a 50 day moving average price of $16.78 and a 200 day moving average price of $14.50. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 61.00 and a beta of 1.47. Retail Opportunity Investments has a fifty-two week low of $7.49 and a fifty-two week high of $18.10. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 1.12.
Retail Opportunity Investments (NASDAQ:ROIC) last posted its earnings results on Tuesday, April 27th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.18). Retail Opportunity Investments had a return on equity of 2.61% and a net margin of 11.68%.
A number of hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its holdings in Retail Opportunity Investments by 4.5% during the first quarter. Envestnet Asset Management Inc. now owns 43,647 shares of the real estate investment trust’s stock worth $693,000 after acquiring an additional 1,872 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Retail Opportunity Investments during the first quarter worth $914,000. Daiwa Securities Group Inc. grew its holdings in Retail Opportunity Investments by 9.8% during the first quarter. Daiwa Securities Group Inc. now owns 29,129 shares of the real estate investment trust’s stock worth $462,000 after acquiring an additional 2,600 shares during the period. Ground Swell Capital LLC acquired a new position in Retail Opportunity Investments during the first quarter worth $164,000. Finally, Virginia Retirement Systems ET AL grew its holdings in Retail Opportunity Investments by 117.9% during the first quarter. Virginia Retirement Systems ET AL now owns 65,600 shares of the real estate investment trust’s stock worth $1,041,000 after acquiring an additional 35,500 shares during the period. 91.04% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Eric S. Zorn sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, April 30th. The stock was sold at an average price of $17.45, for a total value of $523,500.00. Following the transaction, the director now owns 71,414 shares of the company’s stock, valued at $1,246,174.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.50% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 9th. Stockholders of record on Friday, June 18th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, June 17th. Retail Opportunity Investments’s payout ratio is currently 40.00%.
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 September 30, 2020, ROIC owned 88 shopping centers encompassing approximately 10.1 million square feet.
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