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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. “
Other equities research analysts have also issued research reports about the company. Capital One Financial upgraded Retail Opportunity Investments from an equal weight rating to an overweight rating and increased their target price for the company from $19.00 to $21.00 in a research note on Wednesday, October 23rd. DA Davidson restated a buy rating on shares of Retail Opportunity Investments in a research note on Monday, July 29th. BidaskClub lowered Retail Opportunity Investments from a strong-buy rating to a buy rating in a research note on Tuesday, October 29th. Finally, BMO Capital Markets set a $18.00 price objective on Retail Opportunity Investments and gave the company a hold rating in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $19.50.
NASDAQ ROIC traded up $0.01 during trading hours on Thursday, hitting $18.11. 1,056,600 shares of the company’s stock were exchanged, compared to its average volume of 920,216. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.44 and a current ratio of 2.44. Retail Opportunity Investments has a 12-month low of $15.44 and a 12-month high of $19.18. The firm has a market capitalization of $2.13 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 5.30 and a beta of 0.69. The business’s 50 day moving average is $18.45 and its 200-day moving average is $17.81.
Retail Opportunity Investments (NASDAQ:ROIC) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.12). Retail Opportunity Investments had a net margin of 16.59% and a return on equity of 3.81%. The company had revenue of $72.44 million during the quarter, compared to analyst estimates of $73.90 million. During the same quarter last year, the business posted $0.28 EPS. Retail Opportunity Investments’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Retail Opportunity Investments will post 1.11 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.197 per share. The ex-dividend date is Friday, December 13th. This represents a $0.79 dividend on an annualized basis and a yield of 4.35%. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 69.30%.
In other Retail Opportunity Investments news, Director Laura H. Pomerantz sold 13,275 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $18.66, for a total transaction of $247,711.50. Following the transaction, the director now owns 47,897 shares of the company’s stock, valued at approximately $893,758.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Richard A. Baker sold 50,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $18.66, for a total value of $933,000.00. Following the transaction, the chairman now directly owns 273,026 shares in the company, valued at approximately $5,094,665.16. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in ROIC. Versant Capital Management Inc lifted its holdings in Retail Opportunity Investments by 169.1% during the 3rd quarter. Versant Capital Management Inc now owns 1,499 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 942 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Retail Opportunity Investments by 765.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,852 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 1,638 shares during the last quarter. Advisory Services Network LLC lifted its holdings in Retail Opportunity Investments by 2,023.9% during the 2nd quarter. Advisory Services Network LLC now owns 2,400 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 2,287 shares during the last quarter. HM Payson & Co. bought a new position in Retail Opportunity Investments during the 2nd quarter worth approximately $51,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Retail Opportunity Investments by 82.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,739 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 4,409 shares during the last quarter. 95.76% of the stock is currently owned by institutional investors.
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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