Trade Report: Today, Retail Opportunity Investments Corp. (ROIC) Upgrade to “Hold” by The Zacks Investment Research

Today, Retail Opportunity Investments Corp. (ROIC) Upgrade to “Hold” by The Zacks Investment Research

Zacks Investment Research upgraded shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) from a sell rating to a hold rating in a report released on Wednesday.

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. “

Several other equities research analysts also recently issued reports on the stock. FBR & Co reaffirmed a hold rating on shares of Retail Opportunity Investments Corp. in a research note on Wednesday, October 26th. Jefferies Group initiated coverage on shares of Retail Opportunity Investments Corp. in a research note on Friday, November 18th. They set a buy rating and a $25.00 price target on the stock. Canaccord Genuity lifted their price target on shares of Retail Opportunity Investments Corp. from $19.00 to $20.00 and gave the stock a buy rating in a research note on Thursday, August 25th. JPMorgan Chase & Co. reaffirmed a hold rating on shares of Retail Opportunity Investments Corp. in a research note on Tuesday, August 9th. Finally, BTIG Research initiated coverage on shares of Retail Opportunity Investments Corp. in a research note on Thursday, August 25th. They set a buy rating and a $25.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $22.27.

Retail Opportunity Investments Corp. (NASDAQ:ROIC) opened at 20.85 on Wednesday. Retail Opportunity Investments Corp. has a 1-year low of $16.90 and a 1-year high of $23.05. The firm has a 50-day moving average of $20.25 and a 200 day moving average of $21.26. The firm has a market cap of $2.28 billion, a P/E ratio of 71.16 and a beta of 0.55.

Retail Opportunity Investments Corp. (NASDAQ:ROIC) last released its quarterly earnings results on Tuesday, October 25th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. Retail Opportunity Investments Corp. had a net margin of 13.33% and a return on equity of 2.49%. The firm had revenue of $59.40 million for the quarter, compared to the consensus estimate of $59.71 million. During the same quarter in the previous year, the firm posted $0.26 EPS. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. On average, analysts predict that Retail Opportunity Investments Corp. will post $1.06 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 15th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Tuesday, December 13th. Retail Opportunity Investments Corp.’s payout ratio is currently 180.00%.

Several large investors have recently added to or reduced their stakes in ROIC. Price T Rowe Associates Inc. MD increased its stake in Retail Opportunity Investments Corp. by 19.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 5,189,630 shares of the real estate investment trust’s stock valued at $113,964,000 after buying an additional 849,780 shares during the last quarter. Adelante Capital Management LLC raised its position in Retail Opportunity Investments Corp. by 0.3% in the third quarter. Adelante Capital Management LLC now owns 1,082,405 shares of the real estate investment trust’s stock valued at $23,770,000 after buying an additional 3,600 shares during the period. Credit Suisse AG raised its position in Retail Opportunity Investments Corp. by 39.0% in the third quarter. Credit Suisse AG now owns 795,509 shares of the real estate investment trust’s stock valued at $17,470,000 after buying an additional 223,181 shares during the period. Jane Street Group LLC acquired a new position in Retail Opportunity Investments Corp. during the third quarter valued at approximately $911,000. Finally, Panagora Asset Management Inc. raised its position in Retail Opportunity Investments Corp. by 443.3% in the third quarter. Panagora Asset Management Inc. now owns 118,223 shares of the real estate investment trust’s stock valued at $2,596,000 after buying an additional 96,463 shares during the period. 90.75% of the stock is owned by institutional investors.

About Retail Opportunity Investments Corp.

Retail Opportunity Investments Corp. is an integrated, self-managed real estate investment trust (REIT). The Company’s primary business is the ownership, management and redevelopment of retail real estate properties. The Company specializes in the acquisition, ownership and management of necessity-based community and neighborhood shopping centers on the west coast of the United States, anchored by supermarkets and drugstores.

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