KeyCorp Weighs in on Retail Opportunity Investments Corp.’s FY2022 Earnings (NASDAQ:ROIC)

Retail Opportunity Investments Corp. (NASDAQ:ROICGet Rating) – Stock analysts at KeyCorp lifted their FY2022 EPS estimates for Retail Opportunity Investments in a research note issued to investors on Tuesday, September 27th. KeyCorp analyst T. Thomas now forecasts that the real estate investment trust will earn $1.10 per share for the year, up from their previous forecast of $1.09. The consensus estimate for Retail Opportunity Investments’ current full-year earnings is $1.10 per share. KeyCorp also issued estimates for Retail Opportunity Investments’ Q4 2022 earnings at $0.27 EPS, Q1 2023 earnings at $0.27 EPS, Q3 2023 earnings at $0.28 EPS, Q4 2023 earnings at $0.28 EPS and FY2023 earnings at $1.11 EPS.

Other analysts have also recently issued reports about the stock. Citigroup cut shares of Retail Opportunity Investments from a “buy” rating to a “neutral” rating and cut their price target for the company from $19.00 to $17.00 in a report on Monday, September 19th. Jefferies Financial Group dropped their target price on shares of Retail Opportunity Investments from $20.00 to $15.00 in a report on Thursday, June 30th. Finally, StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, Retail Opportunity Investments presently has an average rating of “Hold” and an average target price of $17.00.

Retail Opportunity Investments Trading Down 4.0 %

ROIC opened at $13.53 on Thursday. The stock has a market capitalization of $1.69 billion, a PE ratio of 32.21, a P/E/G ratio of 1.53 and a beta of 1.36. The firm’s fifty day moving average price is $16.71 and its 200 day moving average price is $17.37. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.55 and a quick ratio of 1.55. Retail Opportunity Investments has a 12-month low of $13.35 and a 12-month high of $20.09.

Retail Opportunity Investments (NASDAQ:ROICGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.17). Retail Opportunity Investments had a net margin of 17.65% and a return on equity of 3.85%. During the same quarter last year, the firm earned $0.25 earnings per share.

Institutional Trading of Retail Opportunity Investments

A number of institutional investors and hedge funds have recently modified their holdings of the business. Aew Capital Management L P grew its position in shares of Retail Opportunity Investments by 102.7% during the first quarter. Aew Capital Management L P now owns 2,325,463 shares of the real estate investment trust’s stock worth $45,091,000 after acquiring an additional 1,178,000 shares during the last quarter. Millennium Management LLC grew its position in shares of Retail Opportunity Investments by 51.2% during the fourth quarter. Millennium Management LLC now owns 3,142,352 shares of the real estate investment trust’s stock worth $61,590,000 after acquiring an additional 1,063,495 shares during the last quarter. State Street Corp grew its position in shares of Retail Opportunity Investments by 11.9% during the first quarter. State Street Corp now owns 7,382,667 shares of the real estate investment trust’s stock worth $144,090,000 after acquiring an additional 787,907 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC grew its position in shares of Retail Opportunity Investments by 72.5% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,772,018 shares of the real estate investment trust’s stock worth $34,359,000 after acquiring an additional 745,028 shares during the last quarter. Finally, GRS Advisors LLC bought a new position in shares of Retail Opportunity Investments during the first quarter worth about $12,362,000. 96.44% of the stock is owned by institutional investors and hedge funds.

Retail Opportunity Investments Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, September 16th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.43%. This is a boost from Retail Opportunity Investments’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, September 15th. Retail Opportunity Investments’s dividend payout ratio is 142.86%.

Retail Opportunity Investments Company Profile

(Get Rating)

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 September 30, 2020, ROIC owned 88 shopping centers encompassing approximately 10.1 million square feet.

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