Retail Opportunity Investments Corp. (ROIC) Given a $23.00 Price Target at FBR & Co

FBR & Co set a $23.00 price objective on Retail Opportunity Investments Corp. (NASDAQ:ROIC) in a report released on Wednesday. The firm currently has a hold rating on the real estate investment trust’s stock.

Several other research analysts have also issued reports on ROIC. Jefferies Group LLC reissued a buy rating and set a $26.00 target price on shares of Retail Opportunity Investments Corp. in a research note on Wednesday, June 14th. Citigroup Inc. reissued a neutral rating and set a $19.00 target price (down from $21.00) on shares of Retail Opportunity Investments Corp. in a research note on Monday, July 10th. Zacks Investment Research raised shares of Retail Opportunity Investments Corp. from a hold rating to a buy rating and set a $21.00 target price on the stock in a research note on Wednesday, July 12th. BidaskClub raised shares of Retail Opportunity Investments Corp. from a sell rating to a hold rating in a research note on Sunday, July 16th. Finally, Royal Bank Of Canada reissued a hold rating and set a $23.00 target price on shares of Retail Opportunity Investments Corp. in a research note on Thursday, July 27th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Retail Opportunity Investments Corp. has a consensus rating of Hold and a consensus target price of $22.14.

Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) traded up 0.63% during midday trading on Wednesday, hitting $19.26. 704,206 shares of the company were exchanged. The firm’s 50 day moving average price is $19.53 and its 200 day moving average price is $20.06. Retail Opportunity Investments Corp. has a one year low of $18.45 and a one year high of $22.37. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 59.63 and a beta of 0.68.

Retail Opportunity Investments Corp. (NASDAQ:ROIC) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). The company had revenue of $66.64 million for the quarter, compared to the consensus estimate of $66.18 million. Retail Opportunity Investments Corp. had a return on equity of 2.71% and a net margin of 13.92%. The firm’s revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 earnings per share. Analysts forecast that Retail Opportunity Investments Corp. will post $0.35 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th were paid a $0.188 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.90%. This is a positive change from Retail Opportunity Investments Corp.’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Wednesday, September 13th. Retail Opportunity Investments Corp.’s dividend payout ratio (DPR) is 227.28%.

Several institutional investors have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System lifted its stake in shares of Retail Opportunity Investments Corp. by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 44,700 shares of the real estate investment trust’s stock valued at $858,000 after buying an additional 200 shares in the last quarter. Pinebridge Investments L.P. lifted its stake in shares of Retail Opportunity Investments Corp. by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 14,458 shares of the real estate investment trust’s stock valued at $277,000 after buying an additional 201 shares in the last quarter. BB&T Securities LLC lifted its stake in shares of Retail Opportunity Investments Corp. by 1.8% in the first quarter. BB&T Securities LLC now owns 12,065 shares of the real estate investment trust’s stock valued at $253,000 after buying an additional 208 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Retail Opportunity Investments Corp. by 0.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 70,380 shares of the real estate investment trust’s stock valued at $1,480,000 after buying an additional 250 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Retail Opportunity Investments Corp. by 0.5% in the second quarter. Arizona State Retirement System now owns 57,225 shares of the real estate investment trust’s stock valued at $1,098,000 after buying an additional 300 shares in the last quarter. 94.92% of the stock is currently owned by hedge funds and other institutional investors.

Retail Opportunity Investments Corp. Company Profile

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.

Analyst Recommendations for Retail Opportunity Investments Corp. (NASDAQ:ROIC)

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