Zacks Investment Research lowered shares of Retail Opportunity Investments (NASDAQ:ROIC) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.
According to Zacks, “Retail Opportunity Investments Corp. is a corporation that intends to qualify as a REIT for U.S. federal incoming tax purposes and that expects to invest in, acquire, own, lease, reposition and manage a diverse portfolio of necessity-based retail properties. This includes primarily, well located community and neighborhood shopping centers, anchored by national or regional supermarkets and drugstores. The company may also acquire other retail properties, including power centers, regional malls lifestyle centers and single-tenant retail locations that are leased to national, regional and local tenants. In addition, the Company may supplement its direct purchases of retail properties with first mortgages or second mortgages, mezzanine loans, bridge or other loans or debt investments related to retail properties, in each case provided that the underlying real estate meets the Company’s criteria for direct investment. “
A number of other analysts have also issued reports on ROIC. BidaskClub raised ZIX from a buy rating to a strong-buy rating in a research report on Friday, May 3rd. ValuEngine raised XCel Brands from a sell rating to a hold rating in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $18.00.
ROIC opened at $17.95 on Wednesday. Retail Opportunity Investments has a one year low of $15.44 and a one year high of $19.80. The firm has a market capitalization of $2.05 billion, a PE ratio of 15.88, a PEG ratio of 3.75 and a beta of 0.71. The firm has a 50 day simple moving average of $17.21. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 1.14.
Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $0.29 EPS for the quarter, meeting analysts’ consensus estimates of $0.29. The firm had revenue of $76.05 million for the quarter, compared to analysts’ expectations of $75.31 million. Retail Opportunity Investments had a return on equity of 3.46% and a net margin of 15.22%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 earnings per share. As a group, equities analysts predict that Retail Opportunity Investments will post 1.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were given a $0.197 dividend. This represents a $0.79 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date was Wednesday, June 12th. Retail Opportunity Investments’s payout ratio is 69.30%.
A number of hedge funds and other institutional investors have recently made changes to their positions in ROIC. PNC Financial Services Group Inc. increased its position in shares of Retail Opportunity Investments by 23.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,197 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 603 shares during the last quarter. BlackRock Inc. grew its stake in shares of Retail Opportunity Investments by 3.0% during the 4th quarter. BlackRock Inc. now owns 19,898,702 shares of the real estate investment trust’s stock worth $315,992,000 after acquiring an additional 573,022 shares during the period. Texas Permanent School Fund grew its stake in shares of Retail Opportunity Investments by 5.1% during the 4th quarter. Texas Permanent School Fund now owns 74,590 shares of the real estate investment trust’s stock worth $1,184,000 after acquiring an additional 3,632 shares during the period. Advisor Group Inc. grew its stake in shares of Retail Opportunity Investments by 6.6% during the 4th quarter. Advisor Group Inc. now owns 14,089 shares of the real estate investment trust’s stock worth $224,000 after acquiring an additional 871 shares during the period. Finally, Aviva PLC boosted its stake in Retail Opportunity Investments by 43.0% in the 4th quarter. Aviva PLC now owns 41,123 shares of the real estate investment trust’s stock worth $653,000 after purchasing an additional 12,363 shares during the period. 92.00% of the stock is currently owned by institutional investors.
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 March 31, 2019, ROIC owned 90 shopping centers encompassing approximately 10.3 million square feet.
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