Dupont Capital Management Corp reduced its position in Retail Opportunity Investments Corp. (NASDAQ: ROIC – Get Rating) by 8.1% in the first quarter, according to the company in its latest communication with the Securities and Exchange Commission (SEC). The institutional investor held 10,007 shares of the REIT after selling 885 shares during the period. Dupont Capital Management Corp’s holdings in Retail Opportunity Investments were worth $194,000 when it last filed with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently changed their ROIC holdings. Waterfront Capital Partners LLC purchased a new stake in shares of Retail Opportunity Investments in the fourth quarter valued at $42,934,000. Aew Capital Management LP bought a new stock position in Retail Opportunity Investments in Q4 for a value of $22,490,000. Millennium Management LLC increased its stake in the shares of Retail Opportunity Investments by 51.2% in the 4th quarter. Millennium Management LLC now owns 3,142,352 shares of the real estate investment trust worth $61,590,000 after purchasing an additional 1,063,495 shares last quarter. Land & Buildings Investment Management LLC increased its holdings of Retail Opportunity Investments shares by 28.7% in the fourth quarter. Land & Buildings Investment Management LLC now owns 3,078,950 shares of the real estate investment trust worth $60,347,000 after acquiring an additional 687,460 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Retail Opportunity Investments in Q4 for a value of approximately $10,302,000. 96.17% of the shares are held by hedge funds and other institutional investors.
Retail Opportunity Investments Stock Performance
ROIC opened at $15.95 on Tuesday. The company has a debt ratio of 0.95, a current ratio of 1.58 and a quick ratio of 1.58. The company has a fifty-day moving average price of $16.66 and a 200-day moving average price of $18.05. Retail Opportunity Investments Corp. has a 1-year low of $15.06 and a 1-year high of $20.09. The stock has a market capitalization of $1.98 billion, a P/E ratio of 33.94, a P/E/G ratio of 1.89 and a beta of 1.37.
Retail Opportunity Investments (NASDAQ: ROIC – Get Rating) last released quarterly earnings data on Monday, April 25. The real estate investment trust reported earnings per share of $0.09 for the quarter, beating analysts’ consensus estimate of $0.07 by $0.02. The company posted revenue of $75.04 million in the quarter, compared to $73.21 million expected by analysts. Retail Opportunity Investments posted a net margin of 19.81% and a return on equity of 4.26%. The company’s revenue for the quarter increased 8.9% year over year. In the same period a year earlier, the company posted earnings of $0.24 per share. Equity research analysts predict that Retail Opportunity Investments Corp. will show earnings per share of 1.09 for the current year.
Announcement of dividends on investments in retail opportunities
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 8. Shareholders of record on Friday, June 17 received a dividend of $0.13 per share. This represents a dividend of $0.52 on an annualized basis and a yield of 3.26%. The ex-dividend date was Thursday, June 16. Retail Opportunity Investments’ dividend payout ratio is currently 110.64%.
Analysts set new price targets
A number of equity research analysts have weighed in on the stock recently. StockNews.com took over coverage of Retail Opportunity Investments stocks in a Thursday, March 31 report. They set a “holding” rating for the company. Wells Fargo & Company raised its price target on Retail Opportunity Investments shares from $17.00 to $19.00 and gave the stock an “underweight” rating in a Thursday, April 7 research report . Jefferies Financial Group cut its price target on shares of Retail Opportunity Investments from $20.00 to $15.00 in a Thursday, June 30 research report. Capital One Financial reissued an “equal weight” rating on Retail Opportunity Investments shares in a research report on Monday, April 18. Finally, TheStreet upgraded the shares of Retail Opportunity Investments from a “c+” rating to a “b-” rating in a Monday, April 25 research report.
Retail Opportunity Investments Company Profile
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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 coast west. As of September 30, 2020, ROIC owned 88 shopping centers covering approximately 10.1 million square feet.
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