State of Alaska Department of Revenue Grows Stake in Retail Opportunity Investments Corp (ROIC)

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State of Alaska Department of Revenue raised its holdings in shares of Retail Opportunity Investments Corp (NASDAQ:ROIC) by 43.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,751 shares of the real estate investment trust’s stock after buying an additional 22,151 shares during the quarter. State of Alaska Department of Revenue’s holdings in Retail Opportunity Investments were worth $1,357,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Trust N.A. purchased a new stake in shares of Retail Opportunity Investments during the second quarter worth $195,000. OppenheimerFunds Inc. purchased a new stake in shares of Retail Opportunity Investments during the second quarter worth $196,000. Brown Advisory Inc. purchased a new stake in shares of Retail Opportunity Investments during the first quarter worth $188,000. Ramsey Quantitative Systems grew its holdings in shares of Retail Opportunity Investments by 46.0% during the second quarter. Ramsey Quantitative Systems now owns 19,688 shares of the real estate investment trust’s stock worth $377,000 after buying an additional 6,200 shares in the last quarter. Finally, Profund Advisors LLC grew its holdings in shares of Retail Opportunity Investments by 25.6% during the first quarter. Profund Advisors LLC now owns 20,640 shares of the real estate investment trust’s stock worth $365,000 after buying an additional 4,201 shares in the last quarter.

Shares of ROIC stock opened at $18.18 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 3.74 and a current ratio of 3.74. The stock has a market cap of $2.03 billion, a PE ratio of 15.96, a PEG ratio of 2.53 and a beta of 0.55. Retail Opportunity Investments Corp has a twelve month low of $16.17 and a twelve month high of $20.14.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.23). The firm had revenue of $72.34 million for the quarter, compared to analyst estimates of $73.23 million. Retail Opportunity Investments had a net margin of 13.23% and a return on equity of 2.90%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 EPS. As a group, analysts forecast that Retail Opportunity Investments Corp will post 1.16 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 27th. Stockholders of record on Thursday, September 13th were given a dividend of $0.195 per share. The ex-dividend date was Wednesday, September 12th. This represents a $0.78 annualized dividend and a dividend yield of 4.29%. Retail Opportunity Investments’s payout ratio is 68.42%.

A number of equities research analysts have recently issued reports on ROIC shares. Capital One Financial lowered shares of Retail Opportunity Investments from an “overweight” rating to an “equal weight” rating in a report on Thursday, July 26th. BidaskClub raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. Zacks Investment Research raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Saturday, September 22nd. BMO Capital Markets started coverage on shares of Retail Opportunity Investments in a report on Tuesday, September 18th. They set a “hold” rating and a $20.00 target price for the company. Finally, ValuEngine raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.21.

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 June 30, 2018, ROIC owned 92 shopping centers encompassing approximately 10.6 million square feet.

See Also: Insider Trading

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Institutional Ownership by Quarter for Retail Opportunity Investments (NASDAQ:ROIC)

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