Retail Opportunity Investments (NASDAQ:ROIC) Sees Unusually-High Trading Volume – Here’s Why

Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) saw strong trading volume on Friday . 2,842,959 shares were traded during trading, an increase of 206% from the previous session’s volume of 929,414 shares.The stock last traded at $17.38 and had previously closed at $17.39.

Wall Street Analysts Forecast Growth

ROIC has been the topic of several recent analyst reports. Raymond James lowered Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Bank of America assumed coverage on Retail Opportunity Investments in a report on Thursday, October 24th. They set an “underperform” rating and a $14.00 target price on the stock. Baird R W downgraded shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. KeyCorp lowered Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. Finally, StockNews.com started coverage on shares of Retail Opportunity Investments in a research report on Sunday, January 5th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $16.20.

Retail Opportunity Investments Price Performance

The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market cap of $2.23 billion, a PE ratio of 37.74 and a beta of 1.46. The business’s fifty day moving average is $17.32 and its 200-day moving average is $15.63.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. Retail Opportunity Investments’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the company posted $0.27 earnings per share. On average, research analysts predict that Retail Opportunity Investments Corp. will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be paid a $0.15 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a yield of 3.46%. Retail Opportunity Investments’s dividend payout ratio is 130.43%.

Institutional Investors Weigh In On Retail Opportunity Investments

Several institutional investors have recently made changes to their positions in ROIC. Principal Financial Group Inc. boosted its position in shares of Retail Opportunity Investments by 1.3% during the 3rd quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust’s stock valued at $96,072,000 after acquiring an additional 75,803 shares during the last quarter. Federated Hermes Inc. raised its holdings in Retail Opportunity Investments by 2.9% during the 2nd quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock valued at $56,652,000 after buying an additional 127,799 shares during the last quarter. Geode Capital Management LLC boosted its position in Retail Opportunity Investments by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,290,973 shares of the real estate investment trust’s stock valued at $51,776,000 after buying an additional 24,421 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Retail Opportunity Investments by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,347,118 shares of the real estate investment trust’s stock worth $36,920,000 after acquiring an additional 85,037 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Retail Opportunity Investments by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,834,124 shares of the real estate investment trust’s stock valued at $22,798,000 after acquiring an additional 39,980 shares during the last quarter. Hedge funds and other institutional investors own 97.16% of the company’s stock.

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.