Cornercap Investment Counsel Inc. Sells 14,799 Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Cornercap Investment Counsel Inc. cut its stake in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 45.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,840 shares of the real estate investment trust’s stock after selling 14,799 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Retail Opportunity Investments were worth $310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Gardner Lewis Asset Management L P purchased a new position in Retail Opportunity Investments during the 4th quarter worth $2,776,000. Nomura Asset Management Co. Ltd. increased its stake in shares of Retail Opportunity Investments by 6.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 165,800 shares of the real estate investment trust’s stock valued at $2,878,000 after buying an additional 9,800 shares during the period. Norges Bank bought a new stake in shares of Retail Opportunity Investments in the fourth quarter valued at about $19,214,000. JPMorgan Chase & Co. lifted its stake in Retail Opportunity Investments by 58.7% in the fourth quarter. JPMorgan Chase & Co. now owns 3,235,094 shares of the real estate investment trust’s stock worth $56,161,000 after acquiring an additional 1,196,057 shares during the period. Finally, WINTON GROUP Ltd bought a new position in Retail Opportunity Investments during the 4th quarter worth about $2,630,000. Institutional investors own 97.16% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Retail Opportunity Investments in a report on Wednesday. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $16.20.

Retail Opportunity Investments Stock Performance

ROIC stock opened at $17.51 on Friday. Retail Opportunity Investments Corp. has a one year low of $11.87 and a one year high of $17.52. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 38.07 and a beta of 1.45. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a 50-day simple moving average of $17.49 and a two-hundred day simple moving average of $16.96.

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.