Citigroup Inc. Reiterates Neutral Rating for Retail Opportunity Investments Corp. (ROIC)

Retail Opportunity Investments Corp. (NASDAQ:ROIC)‘s stock had its “neutral” rating reaffirmed by equities researchers at Citigroup Inc. in a research note issued on Monday. They currently have a $19.00 target price on the real estate investment trust’s stock, down from their previous target price of $21.00. Citigroup Inc.’s price objective would suggest a potential upside of 0.11% from the company’s previous close.

ROIC has been the subject of several other research reports. Canaccord Genuity reissued a “buy” rating and set a $26.00 price target on shares of Retail Opportunity Investments Corp. in a research report on Thursday, April 27th. Jefferies Group LLC reissued a “buy” rating and set a $26.00 price target on shares of Retail Opportunity Investments Corp. in a research report on Friday, May 12th. Zacks Investment Research cut shares of Retail Opportunity Investments Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 2nd. Finally, TheStreet cut shares of Retail Opportunity Investments Corp. from a “b” rating to a “c+” rating in a research report on Friday, April 28th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $23.83.

Retail Opportunity Investments Corp. (NASDAQ ROIC) opened at 18.97 on Monday. Retail Opportunity Investments Corp. has a 12-month low of $18.45 and a 12-month high of $23.05. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 59.28 and a beta of 0.69. The company has a 50-day moving average of $19.75 and a 200 day moving average of $20.72.

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

The business also recently announced a quarterly dividend, which was paid on Thursday, June 29th. Stockholders of record on Thursday, June 15th were given a $0.1875 dividend. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $0.75 annualized dividend and a dividend yield of 3.95%. Retail Opportunity Investments Corp.’s dividend payout ratio is 174.42%.

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Several large investors have recently bought and sold shares of ROIC. Loeb Partners Corp boosted its stake in Retail Opportunity Investments Corp. by 17.2% in the first quarter. Loeb Partners Corp now owns 76,200 shares of the real estate investment trust’s stock valued at $1,603,000 after buying an additional 11,200 shares in the last quarter. Hermes Investment Management Ltd. boosted its stake in Retail Opportunity Investments Corp. by 1.8% in the first quarter. Hermes Investment Management Ltd. now owns 2,051,014 shares of the real estate investment trust’s stock valued at $43,133,000 after buying an additional 36,627 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Retail Opportunity Investments Corp. by 9.1% in the first quarter. State of Alaska Department of Revenue now owns 24,640 shares of the real estate investment trust’s stock valued at $517,000 after buying an additional 2,060 shares in the last quarter. Kissinger Financial Services LLC boosted its stake in Retail Opportunity Investments Corp. by 0.7% in the first quarter. Kissinger Financial Services LLC now owns 39,015 shares of the real estate investment trust’s stock valued at $820,000 after buying an additional 285 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Retail Opportunity Investments Corp. by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 44,500 shares of the real estate investment trust’s stock valued at $936,000 after buying an additional 600 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

Retail Opportunity Investments Corp. Company Profile

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.

Analyst Recommendations for Retail Opportunity Investments Corp. (NASDAQ:ROIC)

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