Lazard Asset Management LLC Makes New Investment in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Lazard Asset Management LLC purchased a new stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 52,290 shares of the real estate investment trust’s stock, valued at approximately $907,000.

A number of other large investors also recently added to or reduced their stakes in ROIC. JPMorgan Chase & Co. raised its holdings in shares of Retail Opportunity Investments by 58.7% in the 4th quarter. JPMorgan Chase & Co. now owns 3,235,094 shares of the real estate investment trust’s stock valued at $56,161,000 after buying an additional 1,196,057 shares during the period. Nexpoint Asset Management L.P. acquired a new position in shares of Retail Opportunity Investments in the fourth quarter valued at approximately $50,490,000. Charles Schwab Investment Management Inc. lifted its holdings in Retail Opportunity Investments by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,379,547 shares of the real estate investment trust’s stock worth $41,309,000 after buying an additional 32,429 shares in the last quarter. Northern Trust Corp boosted its holdings in Retail Opportunity Investments by 54.8% in the fourth quarter. Northern Trust Corp now owns 2,226,804 shares of the real estate investment trust’s stock valued at $38,657,000 after purchasing an additional 788,156 shares during the period. Finally, Picton Mahoney Asset Management purchased a new position in Retail Opportunity Investments in the fourth quarter worth approximately $27,343,000. 97.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Retail Opportunity Investments in a research report on Wednesday. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.20.

Retail Opportunity Investments Trading Up 0.1%

NASDAQ ROIC opened at $17.51 on Wednesday. The firm’s fifty day moving average price is $17.51 and its 200 day moving average price is $17.45. Retail Opportunity Investments Corp. has a 12 month low of $11.87 and a 12 month high of $17.52. 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 company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 38.07 and a beta of 1.45.

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.