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Municipal Employees Retirement System of Michigan Maintains Stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

 
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Other hedge funds have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its stake in Retail Opportunity Investments Corp. by 21.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 66,104 shares of the real estate investment trust’s stock valued at $1,397,000 after buying an additional 11,540 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Retail Opportunity Investments Corp. by 31.3% in the first quarter. Daiwa Securities Group Inc. now owns 8,400 shares of the real estate investment trust’s stock valued at $177,000 after buying an additional 2,000 shares during the last quarter. Comerica Bank increased its stake in Retail Opportunity Investments Corp. by 48.8% in the fourth quarter. Comerica Bank now owns 164,599 shares of the real estate investment trust’s stock valued at $3,414,000 after buying an additional 54,004 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Retail Opportunity Investments Corp. by 1.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,985 shares of the real estate investment trust’s stock valued at $357,000 after buying an additional 180 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Retail Opportunity Investments Corp. by 29.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,333 shares of the real estate investment trust’s stock valued at $974,000 after buying an additional 10,619 shares during the last quarter. 96.29% of the stock is owned by institutional investors.
 
Retail Opportunity Investments Corp. (NASDAQ ROIC) opened at 18.98 on Wednesday. Retail Opportunity Investments Corp. has a 52-week low of $18.45 and a 52-week high of $23.05.
 

Retail Opportunity Investments Corp. (NASDAQ:ROIC) last released its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.01. The company had revenue of $65.90 million for the quarter, compared to analysts’ expectations of $62.86 million. Retail Opportunity Investments Corp. had a return on equity of 2.71% and a net margin of 14.13%. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. Equities analysts expect that Retail Opportunity Investments Corp. will post $0.37 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 29th. Stockholders of record on Thursday, June 15th were issued a dividend of $0.1875 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.95%. Retail Opportunity Investments Corp.’s dividend payout ratio (DPR) is presently 174.42%.

 

Several research firms have recently weighed in on ROIC. Zacks Investment Research raised Retail Opportunity Investments Corp. from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, April 27th. Jefferies Group LLC reissued a “buy” rating and issued a $26.00 target price on shares of Retail Opportunity Investments Corp. in a report on Wednesday, June 14th. Citigroup Inc. reissued a “neutral” rating and issued a $21.00 target price (down from $22.00) on shares of Retail Opportunity Investments Corp. in a report on Tuesday, June 6th. TheStreet cut Retail Opportunity Investments Corp. from a “b” rating to a “c+” rating in a research report on Friday, April 28th. Finally, Canaccord Genuity restated a “buy” rating and issued a $26.00 price target on shares of Retail Opportunity Investments Corp. in a research report on Thursday, April 27th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Retail Opportunity Investments Corp. presently has a consensus rating of “Hold” and a consensus price target of $23.83.

About Retail Opportunity Investments Corp.

Retail Opportunity Investments Corp. (ROIC) is a fully integrated, self-managed real estate investment trust (REIT). The Company specializes in the acquisition, ownership and management of necessity-based community and neighborhood shopping centers on the west coast of the United States, anchored by supermarkets and drugstores.

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

 

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