Retail Opportunity Investments Corp (NASDAQ:ROIC) Short Interest Update

Retail Opportunity Investments Corp (NASDAQ:ROIC) was the target of a significant decline in short interest in March. As of March 13th, there was short interest totalling 3,948,400 shares, a decline of 36.8% from the February 27th total of 6,250,000 shares. Based on an average daily volume of 1,614,000 shares, the short-interest ratio is presently 2.4 days. Approximately 3.5% of the company’s stock are short sold.

A number of hedge funds have recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan increased its stake in Retail Opportunity Investments by 2.0% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 34,980 shares of the real estate investment trust’s stock valued at $618,000 after purchasing an additional 680 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Retail Opportunity Investments by 4.7% during the fourth quarter. SG Americas Securities LLC now owns 21,646 shares of the real estate investment trust’s stock worth $382,000 after acquiring an additional 969 shares during the last quarter. Pictet Asset Management Ltd. grew its position in shares of Retail Opportunity Investments by 5.0% during the fourth quarter. Pictet Asset Management Ltd. now owns 25,000 shares of the real estate investment trust’s stock worth $442,000 after acquiring an additional 1,200 shares during the last quarter. 6 Meridian grew its position in shares of Retail Opportunity Investments by 4.2% during the fourth quarter. 6 Meridian now owns 31,298 shares of the real estate investment trust’s stock worth $553,000 after acquiring an additional 1,270 shares during the last quarter. Finally, Texas Permanent School Fund grew its position in shares of Retail Opportunity Investments by 2.0% during the fourth quarter. Texas Permanent School Fund now owns 79,342 shares of the real estate investment trust’s stock worth $1,401,000 after acquiring an additional 1,537 shares during the last quarter. Hedge funds and other institutional investors own 95.74% of the company’s stock.

ROIC stock traded up $0.98 during trading on Thursday, hitting $9.93. 2,571,990 shares of the company’s stock traded hands, compared to its average volume of 1,448,048. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 1.09. Retail Opportunity Investments has a 52 week low of $5.84 and a 52 week high of $19.18. The stock has a fifty day moving average price of $14.25 and a two-hundred day moving average price of $16.97. The stock has a market capitalization of $949.55 million, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 3.83 and a beta of 0.81.

Retail Opportunity Investments (NASDAQ:ROIC) last released its earnings results on Tuesday, February 18th. The real estate investment trust reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. Retail Opportunity Investments had a net margin of 16.56% and a return on equity of 3.80%. The firm had revenue of $73.60 million during the quarter, compared to analyst estimates of $74.43 million. During the same quarter in the previous year, the firm earned $0.29 earnings per share. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, equities research analysts expect that Retail Opportunity Investments will post 1.09 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be paid a dividend of $0.20 per share. This is a positive change from Retail Opportunity Investments’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.80 annualized dividend and a yield of 8.06%. Retail Opportunity Investments’s payout ratio is presently 72.73%.

A number of brokerages recently issued reports on ROIC. Raymond James lowered shares of Retail Opportunity Investments from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $20.00 to $19.00 in a research note on Tuesday, January 7th. BTIG Research dropped their price target on shares of Retail Opportunity Investments from $19.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday. DA Davidson lowered shares of Retail Opportunity Investments from a “buy” rating to a “neutral” rating in a research note on Monday. BidaskClub lowered shares of Retail Opportunity Investments from a “sell” rating to a “strong sell” rating in a research note on Friday, March 20th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $19.00 price target on shares of Retail Opportunity Investments in a research note on Wednesday, March 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $17.40.

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 March 31, 2019, ROIC owned 90 shopping centers encompassing approximately 10.3 million square feet.

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