State of New Jersey Common Pension Fund D Boosts Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

State of New Jersey Common Pension Fund D lifted its holdings in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 986,682 shares of the real estate investment trust’s stock after purchasing an additional 15,204 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.78% of Retail Opportunity Investments worth $13,843,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Clear Street Markets LLC purchased a new position in shares of Retail Opportunity Investments during the third quarter worth about $29,000. Lindbrook Capital LLC lifted its position in Retail Opportunity Investments by 61.9% in the 4th quarter. Lindbrook Capital LLC now owns 2,514 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 961 shares during the last quarter. GAMMA Investing LLC bought a new stake in Retail Opportunity Investments in the 4th quarter worth approximately $125,000. Evergreen Capital Management LLC bought a new stake in Retail Opportunity Investments in the 3rd quarter worth approximately $126,000. Finally, Quadrature Capital Ltd bought a new stake in Retail Opportunity Investments in the 3rd quarter worth approximately $127,000. Hedge funds and other institutional investors own 97.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ROIC shares. StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Bank of America reiterated an “underperform” rating and issued a $12.00 price objective (down previously from $14.50) on shares of Retail Opportunity Investments in a research report on Friday, April 5th. Finally, KeyCorp upgraded Retail Opportunity Investments from a “sector weight” rating to an “overweight” rating and set a $16.00 price objective for the company in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Retail Opportunity Investments currently has a consensus rating of “Hold” and a consensus price target of $14.75.

Retail Opportunity Investments Trading Down 0.3 %

Shares of ROIC traded down $0.04 during mid-day trading on Thursday, hitting $12.36. 1,001,430 shares of the company’s stock traded hands, compared to its average volume of 1,205,679. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.01. Retail Opportunity Investments Corp. has a 1 year low of $10.98 and a 1 year high of $15.16. The firm has a market capitalization of $1.58 billion, a P/E ratio of 41.00 and a beta of 1.42. The business’s 50-day moving average price is $12.65 and its 200-day moving average price is $12.92.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.21). Retail Opportunity Investments had a net margin of 11.21% and a return on equity of 2.74%. The business had revenue of $84.60 million for the quarter, compared to analysts’ expectations of $81.09 million. During the same period last year, the firm posted $0.27 earnings per share. Retail Opportunity Investments’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts forecast that Retail Opportunity Investments Corp. will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, June 14th. This represents a $0.60 annualized dividend and a dividend yield of 4.85%. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 200.00%.

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