Cubist Systematic Strategies LLC Increases Holdings in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Posted by Defense World Staff on Mar 6th, 2023

Cubist Systematic Strategies LLC increased its stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC – Get Rating) by 174.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,347 shares of the real estate investment trust’s stock after acquiring an additional 176,935 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.22% of Retail Opportunity Investments worth $3,830,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its position in shares of Retail Opportunity Investments by 86.8% during the 3rd quarter. Jennison Associates LLC now owns 3,869,038 shares of the real estate investment trust’s stock valued at $53,238,000 after purchasing an additional 1,798,180 shares during the last quarter. State Street Corp increased its position in 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 valued at $144,090,000 after acquiring an additional 787,907 shares during the last quarter. Weiss Multi Strategy Advisers LLC purchased a new stake in shares of Retail Opportunity Investments in the first quarter valued at $11,958,000. Invesco Ltd. lifted its holdings in shares of Retail Opportunity Investments by 105.1% in the 1st quarter. Invesco Ltd. now owns 902,047 shares of the real estate investment trust’s stock worth $17,490,000 after acquiring an additional 462,163 shares during the last quarter. Finally, Long Pond Capital LP purchased a new position in shares of Retail Opportunity Investments during the 2nd quarter worth about $7,214,000. 95.51% of the stock is owned by institutional investors.

Retail Opportunity Investments Stock Performance

Shares of NASDAQ:ROIC opened at $14.31 on Monday. The firm’s 50 day simple moving average is $15.11 and its 200-day simple moving average is $15.18. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.84 and a current ratio of 2.84. Retail Opportunity Investments Corp. has a one year low of $13.35 and a one year high of $20.00. The firm has a market cap of $1.78 billion, a PE ratio of 34.90, a price-to-earnings-growth ratio of 2.67 and a beta of 1.37.

Retail Opportunity Investments (NASDAQ:ROIC – Get Rating) last announced its quarterly earnings data on Thursday, February 16th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.19). Retail Opportunity Investments had a return on equity of 3.74% and a net margin of 16.58%. The firm had revenue of $80.20 million during the quarter, compared to the consensus estimate of $78.15 million. During the same period last year, the company earned $0.25 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities analysts predict that Retail Opportunity Investments Corp. will post 1.09 EPS for the current year.

Retail Opportunity Investments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 7th. Investors of record on Friday, March 17th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.19%. Retail Opportunity Investments’s payout ratio is currently 146.35%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ROIC. BTIG Research lowered shares of Retail Opportunity Investments from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 11th. StockNews.com lowered Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Raymond James downgraded Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 4th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $17.00.

Insider Buying and Selling

In other news, Director Laura H. Pomerantz sold 6,425 shares of the business’s stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $15.55, for a total value of $99,908.75. Following the completion of the sale, the director now owns 59,704 shares in the company, valued at approximately $928,397.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.80% of the stock is owned by insiders.

Retail Opportunity Investments Company Profile

(Get Rating)

Retail Opportunity Investments Corp. operates as a self-managed real estate investment trust. It engages in the ownership, management, and redevelopment of retail real estate properties. It specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely-populated, metropolitan markets across the West Coast.