Principal Financial Group Inc. boosted its holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC - Free Report) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,107,593 shares of the real estate investment trust's stock after purchasing an additional 75,803 shares during the quarter. Principal Financial Group Inc. owned about 4.75% of Retail Opportunity Investments worth $96,072,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Retail Opportunity Investments by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust's stock valued at $254,040,000 after buying an additional 160,068 shares during the last quarter. Centersquare Investment Management LLC grew its holdings in Retail Opportunity Investments by 6.5% during the first quarter. Centersquare Investment Management LLC now owns 9,319,113 shares of the real estate investment trust's stock worth $114,346,000 after buying an additional 571,370 shares in the last quarter. Federated Hermes Inc. raised its position in Retail Opportunity Investments by 2.9% in the 2nd quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust's stock valued at $56,652,000 after buying an additional 127,799 shares during the last quarter. Lasalle Investment Management Securities LLC lifted its stake in Retail Opportunity Investments by 14.8% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust's stock valued at $46,783,000 after acquiring an additional 469,905 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Retail Opportunity Investments by 3.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,300,317 shares of the real estate investment trust's stock worth $41,023,000 after acquiring an additional 118,766 shares during the last quarter. Institutional investors own 97.16% of the company's stock.
Several brokerages have recently commented on ROIC. Robert W. Baird reiterated a "neutral" rating and issued a $17.50 target price (up previously from $16.00) on shares of Retail Opportunity Investments in a report on Thursday. Bank of America began coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They set an "underperform" rating and a $14.00 target price on the stock. Raymond James lowered Retail Opportunity Investments from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 30th. BMO Capital Markets boosted their price objective on Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a "market perform" rating in a research report on Friday. Finally, Wells Fargo & Company raised their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, Retail Opportunity Investments has a consensus rating of "Hold" and a consensus target price of $16.17.
Read Our Latest Stock Analysis on ROIC
Shares of ROIC opened at $17.33 on Friday. Retail Opportunity Investments Corp. has a 1 year low of $11.80 and a 1 year high of $17.40. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. The stock's fifty day moving average price is $15.75 and its two-hundred day moving average price is $14.11. The firm has a market cap of $2.23 billion, a PE ratio of 37.67 and a beta of 1.44.
Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $83.50 million for the quarter, compared to analysts' expectations of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. Retail Opportunity Investments's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.27 earnings per share. On average, equities research analysts forecast that Retail Opportunity Investments Corp. will post 1.04 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a yield of 3.46%. Retail Opportunity Investments's dividend payout ratio is 130.43%.
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 December 31, 2023, ROIC owned 94 shopping centers encompassing approximately 10.6 million square feet.
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