By otakuyassine3@gmail.com 
Retail Opportunity Investments Corp. (NASDAQ:ROIC – Get Free Report) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 2,230,000 shares, a growth of 50.7% from the November 30th total of 1,480,000 shares. Based on an average daily trading volume, of 1,800,000 shares, the days-to-cover ratio is presently 1.2 days.
Retail Opportunity Investments Stock Performance
ROIC traded up $0.03 during midday trading on Monday, reaching $17.38. The company had a trading volume of 485,799 shares, compared to its average volume of 1,307,339. Retail Opportunity Investments has a 1 year low of $11.87 and a 1 year high of $17.52. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04. The company has a market cap of $2.24 billion, a P/E ratio of 37.78 and a beta of 1.47. The business has a 50-day moving average of $17.05 and a two-hundred day moving average of $15.39.
Retail Opportunity Investments (NASDAQ:ROIC – Get Free Report) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The firm had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. Retail Opportunity Investments’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 EPS. As a group, equities research analysts predict that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.
Retail Opportunity Investments Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.45%. The ex-dividend date is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio is presently 130.43%.
Analysts Set New Price Targets
ROIC has been the subject of a number of analyst reports. Bank of America started coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They set an “underperform” rating and a $14.00 target price for the company. Raymond James lowered Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. KeyCorp downgraded shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. StockNews.com began coverage on shares of Retail Opportunity Investments in a research note on Saturday. They set a “hold” rating for the company. Finally, BMO Capital Markets upped their price target on Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.17.
Read Our Latest Research Report on Retail Opportunity Investments
Institutional Trading of Retail Opportunity Investments
A number of large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its position in Retail Opportunity Investments by 2.7% in the second quarter. Arizona State Retirement System now owns 35,555 shares of the real estate investment trust’s stock worth $442,000 after purchasing an additional 927 shares during the last quarter. Creative Planning raised its position in shares of Retail Opportunity Investments by 6.7% during the 3rd quarter. Creative Planning now owns 18,988 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 1,194 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Retail Opportunity Investments by 35.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock valued at $77,000 after acquiring an additional 1,289 shares during the last quarter. Van ECK Associates Corp grew its position in Retail Opportunity Investments by 7.4% in the second quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock worth $236,000 after acquiring an additional 1,307 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Retail Opportunity Investments by 0.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 183,780 shares of the real estate investment trust’s stock worth $2,891,000 after purchasing an additional 1,400 shares during the period. Institutional investors own 97.16% of the company’s stock.
Retail Opportunity Investments Company Profile
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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