Teachers Insurance & Annuity Association of America lowered its position in Retail Opportunity Investments Corp (NASDAQ:ROIC) by 33.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 103,907 shares of the real estate investment trust’s stock after selling 51,369 shares during the quarter. Teachers Insurance & Annuity Association of America’s holdings in Retail Opportunity Investments were worth $1,801,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Texas Permanent School Fund lifted its stake in Retail Opportunity Investments by 5.1% in the fourth quarter. Texas Permanent School Fund now owns 74,590 shares of the real estate investment trust’s stock valued at $1,184,000 after acquiring an additional 3,632 shares during the last quarter. Vanguard Group Inc. lifted its stake in Retail Opportunity Investments by 1.2% in the third quarter. Vanguard Group Inc. now owns 16,527,485 shares of the real estate investment trust’s stock valued at $308,568,000 after acquiring an additional 192,287 shares during the last quarter. BlackRock Inc. lifted its stake in Retail Opportunity Investments by 3.0% in the fourth quarter. BlackRock Inc. now owns 19,898,702 shares of the real estate investment trust’s stock valued at $315,992,000 after acquiring an additional 573,022 shares during the last quarter. Stevens Capital Management LP acquired a new stake in Retail Opportunity Investments in the fourth quarter valued at $369,000. Finally, Citigroup Inc. lifted its stake in Retail Opportunity Investments by 1.0% in the fourth quarter. Citigroup Inc. now owns 352,253 shares of the real estate investment trust’s stock valued at $5,594,000 after acquiring an additional 3,459 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.
A number of analysts have commented on the stock. BidaskClub cut shares of Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research note on Wednesday, February 20th. Zacks Investment Research cut shares of Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $18.00 price target on shares of Retail Opportunity Investments in a research note on Tuesday, February 19th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The company presently has an average rating of “Hold” and an average price target of $18.00.
Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $0.29 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. The company had revenue of $76.05 million for the quarter, compared to analyst estimates of $75.31 million. Retail Opportunity Investments had a net margin of 15.22% and a return on equity of 3.46%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. Analysts predict that Retail Opportunity Investments Corp will post 1.14 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be given a $0.197 dividend. This represents a $0.79 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend is Wednesday, June 12th. Retail Opportunity Investments’s payout ratio is presently 69.30%.
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, 2018, ROIC owned 91 shopping centers encompassing approximately 10.5 million square feet.
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