Retail Opportunity Investments Corp. (NASDAQ:ROIC) – Research analysts at Jefferies Financial Group dropped their Q3 2022 earnings estimates for shares of Retail Opportunity Investments in a research report issued on Monday, January 10th. Jefferies Financial Group analyst L. Tsai now anticipates that the real estate investment trust will post earnings of $0.27 per share for the quarter, down from their previous estimate of $0.28. Jefferies Financial Group also issued estimates for Retail Opportunity Investments’ FY2023 earnings at $1.14 EPS.
Separately, Zacks Investment Research cut shares of Retail Opportunity Investments from a “buy” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.00.
Shares of ROIC opened at $19.62 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.93 and a quick ratio of 2.93. The firm has a 50 day simple moving average of $18.75 and a 200-day simple moving average of $18.10. Retail Opportunity Investments has a 1-year low of $13.73 and a 1-year high of $20.09. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 43.60, a price-to-earnings-growth ratio of 5.36 and a beta of 1.48.
Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings data on Monday, October 25th. The real estate investment trust reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.11. Retail Opportunity Investments had a net margin of 18.96% and a return on equity of 4.10%. The business had revenue of $71.39 million during the quarter, compared to analysts’ expectations of $70.14 million. During the same period last year, the company posted $0.25 EPS. The company’s revenue was up 2.3% on a year-over-year basis.
A number of hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. grew its stake in Retail Opportunity Investments by 0.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 75,061 shares of the real estate investment trust’s stock worth $1,308,000 after acquiring an additional 611 shares during the period. Eii Capital Management Inc. grew its stake in Retail Opportunity Investments by 3.3% in the 3rd quarter. Eii Capital Management Inc. now owns 20,030 shares of the real estate investment trust’s stock worth $349,000 after acquiring an additional 649 shares during the period. United Capital Financial Advisers LLC grew its stake in Retail Opportunity Investments by 2.2% in the 3rd quarter. United Capital Financial Advisers LLC now owns 31,727 shares of the real estate investment trust’s stock worth $553,000 after acquiring an additional 683 shares during the period. Van ECK Associates Corp grew its stake in Retail Opportunity Investments by 18.2% in the 3rd quarter. Van ECK Associates Corp now owns 5,543 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 853 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Retail Opportunity Investments by 1.0% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 92,069 shares of the real estate investment trust’s stock worth $1,604,000 after acquiring an additional 917 shares during the period. 95.54% of the stock is owned by hedge funds and other institutional investors.
The company also recently announced a dividend, which will be paid on Friday, January 14th. Shareholders of record on Thursday, December 23rd will be paid a $0.07 dividend. The ex-dividend date is Wednesday, December 22nd. Retail Opportunity Investments’s payout ratio is currently 97.78%.
Retail Opportunity Investments Company Profile
Retail Opportunity Investments Corp. operates as a self-managed real estate investment trust. The company engages in the ownership, management, and redevelopment of retail real estate properties. It specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely-populated, metropolitan markets across the West Coast.
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