Retail Opportunity Investments Corp. (NASDAQ:ROIC – Get Rating) – Equities researchers at Jefferies Financial Group boosted their FY2022 earnings per share (EPS) estimates for shares of Retail Opportunity Investments in a note issued to investors on Sunday, August 14th. Jefferies Financial Group analyst L. Tsai now expects that the real estate investment trust will earn $1.11 per share for the year, up from their prior estimate of $1.10. The consensus estimate for Retail Opportunity Investments’ current full-year earnings is $1.10 per share. Jefferies Financial Group also issued estimates for Retail Opportunity Investments’ Q4 2023 earnings at $0.27 EPS and FY2025 earnings at $1.18 EPS.
Retail Opportunity Investments (NASDAQ:ROIC – Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.17). Retail Opportunity Investments had a net margin of 17.65% and a return on equity of 3.85%. During the same period in the prior year, the firm posted $0.25 EPS.
ROIC has been the topic of several other reports. StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Friday, August 5th. TheStreet raised Retail Opportunity Investments from a “c+” rating to a “b-” rating in a report on Monday, April 25th.
Retail Opportunity Investments Stock Performance
ROIC stock opened at $18.43 on Tuesday. The company has a market capitalization of $2.30 billion, a P/E ratio of 43.88, a PEG ratio of 2.16 and a beta of 1.37. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.97. The company has a 50-day simple moving average of $16.48 and a 200 day simple moving average of $17.79. Retail Opportunity Investments has a fifty-two week low of $15.06 and a fifty-two week high of $20.09.
Retail Opportunity Investments Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Friday, September 16th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.26%. This is a boost from Retail Opportunity Investments’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, September 15th. Retail Opportunity Investments’s payout ratio is presently 123.81%.
Hedge Funds Weigh In On Retail Opportunity Investments
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its stake in Retail Opportunity Investments by 7.9% during the 4th quarter. Bank of America Corp DE now owns 400,757 shares of the real estate investment trust’s stock valued at $7,855,000 after purchasing an additional 29,467 shares during the period. Mutual of America Capital Management LLC raised its position in Retail Opportunity Investments by 5.5% during the first quarter. Mutual of America Capital Management LLC now owns 17,497 shares of the real estate investment trust’s stock valued at $339,000 after buying an additional 908 shares during the period. Citigroup Inc. lifted its stake in Retail Opportunity Investments by 3.2% in the 4th quarter. Citigroup Inc. now owns 231,162 shares of the real estate investment trust’s stock worth $4,531,000 after acquiring an additional 7,223 shares in the last quarter. Whittier Trust Co. boosted its position in Retail Opportunity Investments by 6.1% during the 1st quarter. Whittier Trust Co. now owns 115,736 shares of the real estate investment trust’s stock worth $2,243,000 after acquiring an additional 6,646 shares during the period. Finally, First Foundation Advisors grew its stake in Retail Opportunity Investments by 2.9% during the 1st quarter. First Foundation Advisors now owns 22,824 shares of the real estate investment trust’s stock valued at $443,000 after acquiring an additional 638 shares in the last quarter. Institutional investors and hedge funds own 96.17% 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 September 30, 2020, ROIC owned 88 shopping centers encompassing approximately 10.1 million square feet.
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