AXA lifted its position in Retail Opportunity Investments Corp (NASDAQ:ROIC) by 12.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 836,024 shares of the real estate investment trust’s stock after purchasing an additional 93,790 shares during the period. AXA owned about 0.76% of Retail Opportunity Investments worth $15,893,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can lifted its stake in Retail Opportunity Investments by 560.6% in the second quarter. Bank of Montreal Can now owns 19,090 shares of the real estate investment trust’s stock worth $367,000 after acquiring an additional 16,200 shares during the period. Sei Investments Co. lifted its position in Retail Opportunity Investments by 47.6% during the second quarter. Sei Investments Co. now owns 82,083 shares of the real estate investment trust’s stock valued at $1,575,000 after buying an additional 26,457 shares during the period. TD Asset Management Inc. lifted its position in Retail Opportunity Investments by 7.5% during the second quarter. TD Asset Management Inc. now owns 60,000 shares of the real estate investment trust’s stock valued at $1,151,000 after buying an additional 4,200 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Retail Opportunity Investments by 6.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,021,941 shares of the real estate investment trust’s stock valued at $19,612,000 after buying an additional 63,138 shares during the period. Finally, Arizona State Retirement System lifted its position in Retail Opportunity Investments by 0.5% during the second quarter. Arizona State Retirement System now owns 57,225 shares of the real estate investment trust’s stock valued at $1,098,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.
ROIC has been the subject of several recent research reports. Jefferies Group lowered Retail Opportunity Investments from a “buy” rating to a “hold” rating and lowered their price objective for the company from $25.00 to $21.00 in a research report on Friday, September 15th. KeyCorp reaffirmed a “hold” rating on shares of Retail Opportunity Investments in a research report on Sunday, September 24th. FBR & Co set a $23.00 price target on Retail Opportunity Investments and gave the stock a “hold” rating in a research report on Wednesday, October 11th. Citigroup reduced their price objective on Retail Opportunity Investments from $20.50 to $20.00 and set a “neutral” rating for the company in a report on Monday, October 30th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $22.00 price objective on shares of Retail Opportunity Investments in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $22.00.
Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.21). The firm had revenue of $67.97 million for the quarter, compared to analysts’ expectations of $68.34 million. Retail Opportunity Investments had a return on equity of 2.86% and a net margin of 14.13%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same period last year, the company earned $0.26 earnings per share. analysts expect that Retail Opportunity Investments Corp will post 1.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th were given a dividend of $0.188 per share. This represents a $0.75 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend was Wednesday, December 13th. Retail Opportunity Investments’s dividend payout ratio is currently 241.94%.
About Retail Opportunity Investments
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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