Bank of America Reaffirms Underperform Rating for Retail Opportunity Investments (NASDAQ:ROIC)

Bank of America reissued their underperform rating on shares of Retail Opportunity Investments (NASDAQ:ROIC - Free Report) in a report published on Friday morning, MarketBeat reports. They currently have a $12.00 target price on the real estate investment trust's stock, down from their prior target price of $14.50.

Other equities research analysts also recently issued reports about the stock. StockNews.com raised shares of Retail Opportunity Investments from a sell rating to a hold rating in a research report on Wednesday, February 14th. KeyCorp raised shares of Retail Opportunity Investments from a sector weight rating to an overweight rating and set a $16.00 target price for the company in a research report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $14.75.

Retail Opportunity Investments Stock Down 0.7 %

ROIC traded down $0.09 during midday trading on Friday, hitting $12.26. The company had a trading volume of 1,835,067 shares, compared to its average volume of 1,218,086. Retail Opportunity Investments has a 52 week low of $10.98 and a 52 week high of $15.16. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 45.41, a PEG ratio of 6.36 and a beta of 1.42. The stock's 50 day moving average price is $12.97 and its 200 day moving average price is $12.92.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.21). Retail Opportunity Investments had a net margin of 10.54% and a return on equity of 2.53%. The company had revenue of $84.60 million during the quarter, compared to the consensus estimate of $81.09 million. During the same period last year, the firm posted $0.27 earnings per share. The company's revenue for the quarter was up 5.5% on a year-over-year basis. On average, research analysts anticipate that Retail Opportunity Investments will post 1.05 earnings per share for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date is Thursday, March 14th. Retail Opportunity Investments's payout ratio is 222.23%.

Institutional Investors Weigh In On Retail Opportunity Investments

A number of institutional investors have recently added to or reduced their stakes in ROIC. Bank of New York Mellon Corp grew its position in Retail Opportunity Investments by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 1,719,813 shares of the real estate investment trust's stock worth $33,347,000 after purchasing an additional 15,741 shares in the last quarter. MetLife Investment Management LLC grew its position in Retail Opportunity Investments by 53.7% in the 1st quarter. MetLife Investment Management LLC now owns 64,279 shares of the real estate investment trust's stock worth $1,246,000 after purchasing an additional 22,459 shares in the last quarter. Rhumbline Advisers grew its position in Retail Opportunity Investments by 4.2% in the 1st quarter. Rhumbline Advisers now owns 362,689 shares of the real estate investment trust's stock worth $7,033,000 after purchasing an additional 14,577 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Retail Opportunity Investments by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 104,679 shares of the real estate investment trust's stock worth $2,030,000 after purchasing an additional 12,906 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its position in Retail Opportunity Investments by 1.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 202,270 shares of the real estate investment trust's stock worth $4,043,000 after purchasing an additional 2,020 shares in the last quarter. 97.16% of the stock is owned by institutional investors.

About Retail Opportunity Investments

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.