Amalgamated Bank Trims Stock Holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Amalgamated Bank cut its holdings in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 2.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 37,355 shares of the real estate investment trust’s stock after selling 828 shares during the quarter. Amalgamated Bank’s holdings in Retail Opportunity Investments were worth $588,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Arizona State Retirement System grew its position in shares of Retail Opportunity Investments by 2.7% during the second quarter. Arizona State Retirement System now owns 35,555 shares of the real estate investment trust’s stock worth $442,000 after buying an additional 927 shares in the last quarter. Creative Planning grew its holdings in Retail Opportunity Investments by 6.7% during the 3rd quarter. Creative Planning now owns 18,988 shares of the real estate investment trust’s stock worth $299,000 after acquiring an additional 1,194 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Retail Opportunity Investments by 35.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 1,289 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Retail Opportunity Investments by 7.4% in the 2nd quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock valued at $236,000 after purchasing an additional 1,307 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in shares of Retail Opportunity Investments by 2.7% during the second quarter. Louisiana State Employees Retirement System now owns 64,100 shares of the real estate investment trust’s stock worth $797,000 after purchasing an additional 1,700 shares during the last quarter. 97.16% of the stock is owned by institutional investors and hedge funds.

Retail Opportunity Investments Price Performance

Shares of NASDAQ ROIC opened at $17.35 on Friday. 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 capitalization of $2.23 billion, a PE ratio of 37.72 and a beta of 1.44. Retail Opportunity Investments Corp. has a 1-year low of $11.87 and a 1-year high of $17.40. The business’s fifty day moving average price is $15.97 and its two-hundred day moving average price is $14.28.

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

Retail Opportunity Investments Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. BMO Capital Markets boosted their price objective on Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a report on Friday, November 8th. Bank of America initiated coverage on Retail Opportunity Investments in a report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price target for the company. Baird R W cut Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. Finally, Wells Fargo & Company increased their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. One research 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, Retail Opportunity Investments presently has a consensus rating of “Hold” and an average target price of $16.17.

Retail Opportunity Investments 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.