Jennison Associates LLC Reduces Stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Jennison Associates LLC trimmed its stake in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC - Free Report) by 38.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,675,304 shares of the real estate investment trust's stock after selling 1,053,307 shares during the quarter. Jennison Associates LLC owned about 1.33% of Retail Opportunity Investments worth $23,505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ROIC. Lindbrook Capital LLC increased its stake in Retail Opportunity Investments by 61.9% during the 4th quarter. Lindbrook Capital LLC now owns 2,514 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 961 shares during the period. abrdn plc grew its stake in shares of Retail Opportunity Investments by 4.1% in the third quarter. abrdn plc now owns 24,899 shares of the real estate investment trust's stock worth $308,000 after purchasing an additional 992 shares during the last quarter. Inspire Investing LLC increased its stake in shares of Retail Opportunity Investments by 4.6% in the third quarter. Inspire Investing LLC now owns 24,609 shares of the real estate investment trust's stock valued at $305,000 after buying an additional 1,093 shares during the period. Sequoia Financial Advisors LLC increased its position in Retail Opportunity Investments by 10.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 14,176 shares of the real estate investment trust's stock valued at $175,000 after purchasing an additional 1,358 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in shares of Retail Opportunity Investments by 3.8% during the third quarter. Daiwa Securities Group Inc. now owns 40,240 shares of the real estate investment trust's stock worth $498,000 after buying an additional 1,477 shares during the period. 97.16% of the stock is currently owned by institutional investors and hedge funds.

Retail Opportunity Investments Stock Performance

Shares of NASDAQ:ROIC traded down $0.04 during mid-day trading on Thursday, reaching $12.36. The company had a trading volume of 1,001,430 shares, compared to its average volume of 1,205,679. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 41.00 and a beta of 1.42. The company's 50-day moving average price is $12.65 and its 200-day moving average price is $12.92. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.01. Retail Opportunity Investments Corp. has a one year low of $10.98 and a one year high of $15.16.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last released its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.21). The business had revenue of $84.60 million during the quarter, compared to analysts' expectations of $81.09 million. Retail Opportunity Investments had a net margin of 11.21% and a return on equity of 2.74%. The firm's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. As a group, equities research analysts anticipate that Retail Opportunity Investments Corp. will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.85%. The ex-dividend date is Friday, June 14th. Retail Opportunity Investments's payout ratio is 200.00%.

Analyst Upgrades and Downgrades

ROIC has been the subject of several research analyst reports. Bank of America reaffirmed an "underperform" rating and issued a $12.00 price target (down from $14.50) on shares of Retail Opportunity Investments in a research note on Friday, April 5th. StockNews.com raised Retail Opportunity Investments from a "sell" rating to a "hold" rating in a research report on Wednesday, February 14th. Finally, KeyCorp raised shares of Retail Opportunity Investments from a "sector weight" rating to an "overweight" rating and set a $16.00 price objective on the stock in a report on Friday, January 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Retail Opportunity Investments has a consensus rating of "Hold" and an average price target of $14.75.

Retail Opportunity Investments 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 December 31, 2023, ROIC owned 94 shopping centers encompassing approximately 10.6 million square feet.