Geode Capital Management LLC Raises Position in Retail Opportunity Investments Corp (NASDAQ:ROIC)

Geode Capital Management LLC boosted its stake in Retail Opportunity Investments Corp (NASDAQ:ROIC) by 9.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,602,715 shares of the real estate investment trust’s stock after purchasing an additional 138,664 shares during the period. Geode Capital Management LLC owned about 1.41% of Retail Opportunity Investments worth $25,451,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Retail Opportunity Investments in the fourth quarter worth $20,652,000. Millennium Management LLC boosted its holdings in Retail Opportunity Investments by 112.0% in the fourth quarter. Millennium Management LLC now owns 392,705 shares of the real estate investment trust’s stock worth $6,236,000 after acquiring an additional 207,469 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Retail Opportunity Investments by 6.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 156,080 shares of the real estate investment trust’s stock worth $2,479,000 after acquiring an additional 9,024 shares in the last quarter. Cipher Capital LP bought a new stake in Retail Opportunity Investments in the fourth quarter worth $198,000. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Retail Opportunity Investments in the fourth quarter worth $518,000. 92.00% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on ROIC shares. BidaskClub upgraded Retail Opportunity Investments from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 25th. Zacks Investment Research cut Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th. Six investment analysts have rated the stock with a hold rating, Retail Opportunity Investments currently has a consensus rating of “Hold” and an average price target of $18.00.

Shares of ROIC stock traded down $0.16 during mid-day trading on Monday, hitting $16.97. The company’s stock had a trading volume of 1,083,000 shares, compared to its average volume of 829,691. Retail Opportunity Investments Corp has a 52-week low of $15.44 and a 52-week high of $19.80. The company has a 50-day moving average of $17.24. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.13 and a current ratio of 2.13. The firm has a market capitalization of $1.96 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 3.58 and a beta of 0.71.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $0.29 EPS for the quarter, meeting analysts’ consensus estimates of $0.29. Retail Opportunity Investments had a return on equity of 3.46% and a net margin of 15.22%. The company had revenue of $76.05 million during the quarter, compared to analysts’ expectations of $75.31 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. Retail Opportunity Investments’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities research analysts predict that Retail Opportunity Investments Corp will post 1.14 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were paid a $0.197 dividend. This represents a $0.79 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend was Wednesday, June 12th. Retail Opportunity Investments’s dividend payout ratio (DPR) is 69.30%.

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 March 31, 2019, ROIC owned 90 shopping centers encompassing approximately 10.3 million square feet.

Featured Story: What is a Derivative?

Institutional Ownership by Quarter for Retail Opportunity Investments (NASDAQ:ROIC)

Receive News & Ratings for Retail Opportunity Investments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Retail Opportunity Investments and related companies with MarketBeat.com's FREE daily email newsletter.