Raymond James & Associates lifted its stake in shares of Retail Opportunity Investments Corp (NASDAQ:ROIC) by 9.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,665,102 shares of the real estate investment trust’s stock after purchasing an additional 140,319 shares during the period. Raymond James & Associates’ holdings in Retail Opportunity Investments were worth $28,873,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in ROIC. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Retail Opportunity Investments during the 1st quarter worth about $1,828,000. Vision Capital Corp boosted its stake in shares of Retail Opportunity Investments by 14.4% during the 1st quarter. Vision Capital Corp now owns 785,786 shares of the real estate investment trust’s stock worth $13,626,000 after acquiring an additional 98,703 shares in the last quarter. Everence Capital Management Inc. bought a new stake in shares of Retail Opportunity Investments during the 1st quarter worth about $254,000. Texas Permanent School Fund boosted its stake in shares of Retail Opportunity Investments by 3.8% during the 1st quarter. Texas Permanent School Fund now owns 77,394 shares of the real estate investment trust’s stock worth $1,342,000 after acquiring an additional 2,804 shares in the last quarter. Finally, Comerica Bank boosted its stake in shares of Retail Opportunity Investments by 1.7% during the 1st quarter. Comerica Bank now owns 120,541 shares of the real estate investment trust’s stock worth $2,129,000 after acquiring an additional 2,041 shares in the last quarter. 94.26% of the stock is currently owned by institutional investors.
ROIC has been the subject of several recent analyst reports. BMO Capital Markets reiterated a “hold” rating and set a $18.00 price target on shares of Retail Opportunity Investments in a research note on Tuesday, February 19th. BidaskClub upgraded Retail Opportunity Investments from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 25th. Finally, Zacks Investment Research downgraded Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Retail Opportunity Investments presently has an average rating of “Hold” and an average target price of $18.00.
Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.29. Retail Opportunity Investments had a return on equity of 3.46% and a net margin of 15.22%. The company had revenue of $76.05 million during the quarter, compared to the consensus estimate of $75.31 million. During the same quarter in the prior year, the company posted $0.30 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts forecast that Retail Opportunity Investments Corp will post 1.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be paid a dividend of $0.197 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $0.79 annualized dividend and a yield of 4.49%. Retail Opportunity Investments’s payout ratio is 69.30%.
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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 March 31, 2019, ROIC owned 90 shopping centers encompassing approximately 10.3 million square feet.
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