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 equities research analysts also recently weighed in on the stock. DA Davidson reaffirmed a buy rating on shares of Retail Opportunity Investments in a report on Monday, July 29th. ValuEngine raised shares of Retail Opportunity Investments from a sell rating to a hold rating in a report on Tuesday, July 9th. BidaskClub raised shares of Retail Opportunity Investments from a buy rating to a strong-buy rating in a report on Friday, October 4th. Finally, BMO Capital Markets set a $18.00 price objective on shares of Retail Opportunity Investments and gave the stock a hold rating in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Retail Opportunity Investments presently has an average rating of Buy and a consensus price target of $18.00.
Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $73.49 million. During the same period last year, the firm posted $0.27 EPS. The business’s revenue was up .8% compared to the same quarter last year. As a group, equities research analysts forecast that Retail Opportunity Investments will post 1.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a $0.197 dividend. This represents a $0.79 annualized dividend and a yield of 4.27%. The ex-dividend date was Wednesday, September 11th. Retail Opportunity Investments’s payout ratio is currently 69.30%.
Hedge funds have recently bought and sold shares of the stock. Deprince Race & Zollo Inc. lifted its holdings in Retail Opportunity Investments by 9.7% in the second quarter. Deprince Race & Zollo Inc. now owns 1,602,068 shares of the real estate investment trust’s stock worth $27,443,000 after purchasing an additional 141,516 shares during the period. Jennison Associates LLC lifted its holdings in Retail Opportunity Investments by 12.2% in the second quarter. Jennison Associates LLC now owns 2,157,598 shares of the real estate investment trust’s stock worth $36,960,000 after purchasing an additional 235,011 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Retail Opportunity Investments by 4.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,112 shares of the real estate investment trust’s stock worth $516,000 after purchasing an additional 1,323 shares during the period. Copper Rock Capital Partners LLC acquired a new stake in Retail Opportunity Investments in the third quarter worth about $14,383,000. Finally, Whittier Trust Co. lifted its holdings in Retail Opportunity Investments by 1,939.6% in the second quarter. Whittier Trust Co. now owns 75,139 shares of the real estate investment trust’s stock worth $1,286,000 after purchasing an additional 71,455 shares during the period. 95.63% of the stock is owned by institutional investors and hedge funds.
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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