Capital One Financial reaffirms equal weight rating for investments in retail opportunities (NASDAQ: ROIC)
Capital One Financial reiterated their equal weighting on the shares of Retail Opportunity Investments (NASDAQ: ROIC – Get a rating) in a report released Monday morning, Zacks.com reports. Capital One Financial also released estimates for Retail Opportunity Investments Q1 2022 earnings at $0.25 EPS, fiscal year 2022 earnings at $1.07 EPS, Q1 2023 earnings at $0.27 EPS , Q2 2023 earnings at $0.26 EPS, Q3 2023 earnings at $0.28 EPS, Q4 2023 earnings at $0.28 EPS, FY2023 earnings at $1.10 EPS, Q1 2024 earnings at $0.28 EPS, Fiscal 2024 earnings at $1.13 EPS, and Fiscal 2025 earnings at $1.18 EPS.
Several other research companies have also recently weighed in on ROIC. Zacks Investment Research upgraded shares of Retail Opportunity Investments from a sell rating to a hold rating in a Friday, March 4 research report. Wells Fargo & Company raised its price target on Retail Opportunity Investments stock from $17.00 to $19.00 and gave the stock an underweight rating in a Thursday, April 7 research report. To finish, StockNews.com began covering Retail Opportunity Investments stocks in a research report on Thursday, March 31. They set a holding rating for the company. One financial analyst has assigned the stock a sell rating, three have assigned a hold rating and one has assigned the stock a buy rating. According to data from MarketBeat, Retail Opportunity Investments currently has an average rating of Hold and an average target price of $20.00.
Shares of NASDAQ ROIC opened at $19.52 on Monday. The company has a debt ratio of 0.97, a quick ratio of 1.46 and a current ratio of 1.46. Retail Opportunity Investments has a 52-week low of $16.47 and a 52-week high of $20.09. The company has a 50-day moving average price of $18.76 and a two-hundred-day moving average price of $18.62. The stock has a market capitalization of $2.40 billion, a P/E ratio of 44.36, a growth price/earnings ratio of 3.31 and a beta of 1.45.
Retail Opportunity Investments (NASDAQ: ROIC – Get a rating) last released its quarterly earnings data on Tuesday, February 15. The real estate investment trust reported earnings per share of $0.07 for the quarter, meeting Thomson Reuters consensus estimate of $0.07. Retail Opportunity Investments posted a net margin of 18.83% and a return on equity of 4.01%. The company posted revenue of $72.80 million in the quarter, compared to $71.53 million expected by analysts. In the same period a year earlier, the company posted earnings per share of $0.27. Retail Opportunity Investments revenue for the quarter decreased 0.2% compared to the same quarter last year. Analysts expect Retail Opportunity Investments to post 1.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, April 8. Investors of record on Friday, March 18 received a dividend of $0.13 per share. The ex-dividend date was Thursday, March 17. This is a positive change from Retail Opportunity Investments’ previous quarterly dividend of $0.11. This represents an annualized dividend of $0.52 and a yield of 2.66%. Retail Opportunity Investments’ dividend payout ratio is currently 118.18%.
A number of hedge funds and other institutional investors have recently changed their ROIC holdings. BlackRock Inc. increased its stake in shares of Retail Opportunity Investments by 3.9% in the fourth quarter. BlackRock Inc. now owns 22,269,037 shares of the real estate investment trust valued at $436,471,000 after purchasing an additional 835,671 shares last quarter. State Street Corp increased its stake in shares of Retail Opportunity Investments by 4.1% in the fourth quarter. State Street Corp now owns 6,594,760 shares of the real estate investment trust valued at $130,478,000 after buying an additional 261,930 shares last quarter. Millennium Management LLC increased its stake in shares of Retail Opportunity Investments by 51.2% in the fourth quarter. Millennium Management LLC now owns 3,142,352 shares of the real estate investment trust valued at $61,590,000 after purchasing an additional 1,063,495 shares last quarter. Land & Buildings Investment Management LLC increased its stake in shares of Retail Opportunity Investments by 28.7% in the fourth quarter. Land & Buildings Investment Management LLC now owns 3,078,950 shares of the real estate investment trust worth $60,347,000 after purchasing an additional 687,460 shares last quarter. Finally, Ranger Global Real Estate Advisors LLC bought a new stock position in Retail Opportunity Investments in the third quarter worth $49,863,000. 97.47% of the shares are currently held by institutional investors and hedge funds.
Retail Opportunity Investments Company Profile (Get a 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 coast west. As of September 30, 2020, ROIC owned 88 shopping centers covering approximately 10.1 million square feet.
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