By otakuyassine3@gmail.com 
Retail Opportunity Investments Corp. (NASDAQ:ROIC – Get Free Report) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totalling 3,490,000 shares, an increase of 56.5% from the December 15th total of 2,230,000 shares. Based on an average daily trading volume, of 1,950,000 shares, the days-to-cover ratio is presently 1.8 days.
Hedge Funds Weigh In On Retail Opportunity Investments
Hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC lifted its position in shares of Retail Opportunity Investments by 1,473.1% during the third quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,753 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Retail Opportunity Investments by 1.3% during the 3rd quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust’s stock worth $96,072,000 after buying an additional 75,803 shares in the last quarter. Citigroup Inc. boosted its position in Retail Opportunity Investments by 73.9% in the 3rd quarter. Citigroup Inc. now owns 238,315 shares of the real estate investment trust’s stock valued at $3,749,000 after buying an additional 101,275 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Retail Opportunity Investments by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,347,118 shares of the real estate investment trust’s stock valued at $36,920,000 after buying an additional 85,037 shares during the period. Finally, Barclays PLC increased its position in shares of Retail Opportunity Investments by 316.7% during the third quarter. Barclays PLC now owns 211,816 shares of the real estate investment trust’s stock worth $3,331,000 after acquiring an additional 160,981 shares during the period. 97.16% of the stock is currently owned by hedge funds and other institutional investors.
Retail Opportunity Investments Trading Up 0.3 %
Shares of ROIC traded up $0.06 during trading on Friday, reaching $17.45. 1,361,068 shares of the company traded hands, compared to its average volume of 1,842,897. The stock has a 50-day simple moving average of $17.39 and a 200-day simple moving average of $15.85. The stock has a market cap of $2.25 billion, a PE ratio of 37.93 and a beta of 1.46. Retail Opportunity Investments has a twelve month low of $11.87 and a twelve month 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.
Retail Opportunity Investments (NASDAQ:ROIC – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The company had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. During the same quarter last year, the business posted $0.27 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts anticipate that Retail Opportunity Investments will post 1.04 earnings per share for the current year.
Retail Opportunity Investments Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 20th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.44%. The ex-dividend date was Friday, December 20th. Retail Opportunity Investments’s payout ratio is 130.43%.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on ROIC. Robert W. Baird reaffirmed a “neutral” rating and issued a $17.50 target price (up from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. Baird R W cut shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. StockNews.com assumed coverage on shares of Retail Opportunity Investments in a report on Monday. They issued a “hold” rating on the stock. BMO Capital Markets raised their price target on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a report on Friday, November 8th. Finally, Bank of America began coverage on Retail Opportunity Investments in a report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price objective on the stock. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.20.
View Our Latest Stock Report on ROIC
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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