Retail Opportunity Investments Corp. (NASDAQ:ROIC) posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by $0.01, Bloomberg Earnings reports. Retail Opportunity Investments Corp. had a return on equity of 2.71% and a net margin of 13.92%. The company had revenue of $66.64 million for the quarter, compared to analysts’ expectations of $66.18 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The firm’s revenue was up 13.6% on a year-over-year basis.
Retail Opportunity Investments Corp. (NASDAQ ROIC) traded up 1.14% during midday trading on Friday, hitting $20.33. The stock had a trading volume of 587,898 shares. The stock has a market cap of $2.23 billion, a PE ratio of 62.94 and a beta of 0.69. Retail Opportunity Investments Corp. has a one year low of $18.45 and a one year high of $22.98.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be paid a dividend of $0.188 per share. This represents a $0.75 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Wednesday, September 13th. This is a boost from Retail Opportunity Investments Corp.’s previous quarterly dividend of $0.19. Retail Opportunity Investments Corp.’s dividend payout ratio is 227.28%.
Hedge funds have recently modified their holdings of the company. Great West Life Assurance Co. Can increased its stake in shares of Retail Opportunity Investments Corp. by 4.7% in the first quarter. Great West Life Assurance Co. Can now owns 206,941 shares of the real estate investment trust’s stock valued at $4,349,000 after buying an additional 9,302 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Retail Opportunity Investments Corp. by 1.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,985 shares of the real estate investment trust’s stock worth $357,000 after buying an additional 180 shares during the period. Wells Fargo & Company MN boosted its position in Retail Opportunity Investments Corp. by 11.1% in the first quarter. Wells Fargo & Company MN now owns 221,135 shares of the real estate investment trust’s stock worth $4,651,000 after buying an additional 22,019 shares during the period. First Citizens Bank & Trust Co. purchased a new position in Retail Opportunity Investments Corp. during the first quarter worth about $239,000. Finally, Loeb Partners Corp boosted its position in Retail Opportunity Investments Corp. by 17.2% in the first quarter. Loeb Partners Corp now owns 76,200 shares of the real estate investment trust’s stock worth $1,603,000 after buying an additional 11,200 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.
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Several brokerages recently issued reports on ROIC. Royal Bank Of Canada restated a “hold” rating and issued a $23.00 price objective on shares of Retail Opportunity Investments Corp. in a report on Thursday, July 27th. Canaccord Genuity restated a “buy” rating and issued a $26.00 price objective on shares of Retail Opportunity Investments Corp. in a report on Thursday, April 27th. BidaskClub upgraded shares of Retail Opportunity Investments Corp. from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Jefferies Group LLC reiterated a “buy” rating and set a $26.00 price target on shares of Retail Opportunity Investments Corp. in a research note on Friday, May 12th. Finally, Zacks Investment Research downgraded Retail Opportunity Investments Corp. from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $23.14.
Retail Opportunity Investments Corp. Company Profile
Retail Opportunity Investments Corp. (ROIC) is a fully integrated, self-managed real estate investment trust (REIT). The Company specializes in the acquisition, ownership and management of necessity-based community and neighborhood shopping centers on the west coast of the United States, anchored by supermarkets and drugstores.
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