Principal Financial Group Inc. Acquires 1,074,741 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Principal Financial Group Inc. grew its position in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC - Free Report) by 158.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,753,614 shares of the real estate investment trust's stock after buying an additional 1,074,741 shares during the quarter. Principal Financial Group Inc. owned 1.39% of Retail Opportunity Investments worth $24,603,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of ROIC. Clear Street Markets LLC purchased a new position in shares of Retail Opportunity Investments in the 3rd quarter valued at about $29,000. Lindbrook Capital LLC boosted its stake in shares of 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 purchasing an additional 961 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Retail Opportunity Investments during the 4th quarter worth about $125,000. Evergreen Capital Management LLC acquired a new stake in shares of Retail Opportunity Investments during the 3rd quarter worth about $126,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Retail Opportunity Investments during the 3rd quarter worth about $127,000. Hedge funds and other institutional investors own 97.16% of the company's stock.

Retail Opportunity Investments Stock Down 2.3 %

Shares of NASDAQ ROIC traded down $0.29 during trading on Monday, reaching $12.46. 739,954 shares of the stock were exchanged, compared to its average volume of 1,121,633. The business's 50-day moving average price is $12.48 and its 200 day moving average price is $13.02. Retail Opportunity Investments Corp. has a twelve month low of $10.98 and a twelve month high of $15.16. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 41.53 and a beta of 1.41.

Retail Opportunity Investments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.60 annualized dividend and a yield of 4.82%. Retail Opportunity Investments's dividend payout ratio is presently 200.00%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ROIC shares. StockNews.com raised shares of Retail Opportunity Investments from a "sell" rating to a "hold" rating in a research note on Wednesday, February 14th. Bank of America reissued an "underperform" rating and issued a $12.00 target price (down from $14.50) on shares of Retail Opportunity Investments in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $14.75.

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