Retail Opportunity Investments Corp. (NASDAQ:ROIC) shares traded 1.62% higher at $13.81 on Wall Street last session.
In accordance with the data, 10 analysts cover Retail Opportunity Investments Corp. (NASDAQ:ROIC). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $17.00 and a low of $13.00, we find $14.00. Given the previous closing price of $13.59, this indicates a potential upside of 3.02 percent. ROIC stock price is now 6.77% away from the 50-day moving average and -1.69% away from the 200-day moving average. The market capitalization of the company currently stands at $1.74B.
It has been rated a hold by 7 analysts and a buy by 2. Brokers who have rated the stock have averaged $14.86 as their price target over the next twelve months.
With the price target of $14, Wells Fargo recently initiated with Overweight rating for Retail Opportunity Investments Corp. (NASDAQ: ROIC).
In other news, POMERANTZ LAURA H, Director sold 10,800 shares of the company’s stock on Mar 07. The stock was sold for $148,789 at an average price of $13.78. Upon completion of the transaction, the Director now directly owns 55,557 shares in the company, valued at $0.77 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 12, Director POMERANTZ LAURA H sold 6,425 shares of the business’s stock. A total of $99,940 was realized by selling the stock at an average price of $15.55. This leaves the insider owning 59,704 shares of the company worth $0.82 million. Insiders disposed of 407,495 shares of company stock worth roughly $5.63 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ROIC stock. A new stake in Retail Opportunity Investments Corp. shares was purchased by LONG POND CAPITAL, LP during the first quarter worth $7,152,000. WESTWOOD HOLDINGS GROUP INC invested $6,246,000 in shares of ROIC during the first quarter. In the first quarter, HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND acquired a new stake in Retail Opportunity Investments Corp. valued at approximately $2,487,000. ALGERT GLOBAL LLC acquired a new stake in ROIC for approximately $2,291,000. AIGEN INVESTMENT MANAGEMENT, LP purchased a new stake in ROIC valued at around $793,000 in the second quarter. In total, there are 349 active investors with 98.29% ownership of the company’s stock.
Retail Opportunity Investments Corp. (NASDAQ: ROIC) opened at $13.65 on Tuesday. During the past 12 months, Retail Opportunity Investments Corp. has had a low of $11.97 and a high of $18.78. According to the stock market information, the enterprise value for the company is $3.10B, which is based on a 38.15 price-to-earnings ratio, a 4.77 price-to-earnings-growth ratio, and a beta of 1.41. The fifty day moving average price for ROIC is $12.96 and a two-hundred day moving average price translates $14.04 for the stock.
The latest earnings results from Retail Opportunity Investments Corp. (NASDAQ: ROIC) was released for Mar, 2023. According to the REIT – Retail Company, earnings per share came in at $0.06, missing analysts’ expectations of $0.08 by -0.02. This compares to $0.09 EPS in the same period last year. The net profit margin was 15.20% and return on equity was 3.70% for ROIC. The company reported revenue of $79.3 million for the quarter, compared to $76.47 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.69 percent. For the current quarter, analysts expect ROIC to generate $80M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/07/2023. Investors who held shares on 06/16/2023 were paid a $0.15 dividend. On an annualized basis, this represents a $0.60 dividend and a 4.34% percent yield. There was an ex-dividend date of 06/15/2023 for this dividend. In terms of dividend payout ratio, ROIC is presently at 149.70%.
Retail Opportunity Investments Corp.(ROIC) 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 March 31, 2023, ROIC owned 93 shopping centers encompassing approximately 10.6 million square feet. ROIC is the largest publicly-traded, grocery-anchored shopping center REIT focused exclusively on the West Coast. ROIC is a member of the S&P SmallCap 600 Index and has investment-grade corporate debt ratings from Moody’s Investor Services, S&P Global Ratings and Fitch Ratings, Inc.
