Zacks Investment Research cut shares of Retail Opportunity Investments (NASDAQ:ROIC) from a hold rating to a sell rating in a research note published on Tuesday, Zacks.com reports.

According to Zacks, “Retail Opportunity Investments Corp. is a corporation that intends to qualify as a REIT for U.S. federal incoming tax purposes and that expects to invest in, acquire, own, lease, reposition and manage a diverse portfolio of necessity-based retail properties. This includes primarily, well located community and neighborhood shopping centers, anchored by national or regional supermarkets and drugstores. The company may also acquire other retail properties, including power centers, regional malls lifestyle centers and single-tenant retail locations that are leased to national, regional and local tenants. In addition, the Company may supplement its direct purchases of retail properties with first mortgages or second mortgages, mezzanine loans, bridge or other loans or debt investments related to retail properties, in each case provided that the underlying real estate meets the Company’s criteria for direct investment. “

Several other brokerages have also issued reports on ROIC. ValuEngine raised XCel Brands from a sell rating to a hold rating in a research note on Tuesday, July 9th. BidaskClub raised Westport Fuel Systems from a hold rating to a buy rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $18.00.

Retail Opportunity Investments stock opened at $17.97 on Tuesday. The business has a 50 day moving average of $17.29. 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 $2.04 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 3.73 and a beta of 0.71. Retail Opportunity Investments has a one year low of $15.44 and a one year high of $19.80.

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, hitting the Zacks’ consensus estimate of $0.29. The company had revenue of $76.05 million for the quarter, compared to analyst estimates of $75.31 million. Retail Opportunity Investments had a return on equity of 3.46% and a net margin of 15.22%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 earnings per share. As a group, analysts predict that Retail Opportunity Investments will post 1.14 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were paid a $0.197 dividend. This represents a $0.79 annualized dividend and a yield of 4.39%. The ex-dividend date was Wednesday, June 12th. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 69.30%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROIC. First Hawaiian Bank bought a new stake in Retail Opportunity Investments during the first quarter worth $32,000. PNC Financial Services Group Inc. boosted its position in Retail Opportunity Investments by 23.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,197 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 603 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Retail Opportunity Investments by 1,542.1% in the first quarter. Quadrant Capital Group LLC now owns 3,005 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 2,822 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in Retail Opportunity Investments in the first quarter worth $92,000. Finally, Cipher Capital LP purchased a new position in Retail Opportunity Investments in the fourth quarter worth $198,000. Hedge funds and other institutional investors own 92.00% of the company’s stock.

About Retail Opportunity Investments

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.

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