Retail Opportunity Investments Corp. (NASDAQ:ROIC) Shares Sold by Putnam Investments LLC

Posted by Defense World Staff on Mar 14th, 2023

Putnam Investments LLC reduced its position in Retail Opportunity Investments Corp. (NASDAQ:ROIC – Get Rating) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,730 shares of the real estate investment trust’s stock after selling 1,795 shares during the period. Putnam Investments LLC owned approximately 0.08% of Retail Opportunity Investments worth $1,359,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ROIC. Jennison Associates LLC lifted its stake in shares of Retail Opportunity Investments by 86.8% in 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 in the last quarter. State Street Corp lifted its position in Retail Opportunity Investments by 11.9% during the 1st 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 in the last quarter. Citadel Advisors LLC lifted its position in Retail Opportunity Investments by 118.9% during the 3rd quarter. Citadel Advisors LLC now owns 1,305,201 shares of the real estate investment trust’s stock worth $17,960,000 after acquiring an additional 709,067 shares in the last quarter. Weiss Multi Strategy Advisers LLC acquired a new position in Retail Opportunity Investments during the 1st quarter worth approximately $11,958,000. Finally, Invesco Ltd. lifted its position in Retail Opportunity Investments by 105.1% during 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 in the last quarter. 95.51% of the stock is owned by institutional investors and hedge funds.

Retail Opportunity Investments Price Performance

ROIC stock opened at $13.11 on Tuesday. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 1.01. Retail Opportunity Investments Corp. has a 52-week low of $12.87 and a 52-week high of $20.00. The stock’s 50 day moving average is $14.95 and its two-hundred day moving average is $14.99. The company has a market capitalization of $1.63 billion, a PE ratio of 31.98, a P/E/G ratio of 2.44 and a beta of 1.37.

Retail Opportunity Investments (NASDAQ:ROIC – Get Rating) last posted 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 business had revenue of $80.20 million for the quarter, compared to analysts’ expectations of $78.15 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Retail Opportunity Investments’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts predict that Retail Opportunity Investments Corp. will post 1.09 earnings per share for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.58%. Retail Opportunity Investments’s dividend payout ratio (DPR) is 146.35%.

Insider Activity

In other news, Director Laura H. Pomerantz sold 10,800 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $13.78, for a total value of $148,824.00. Following the completion of the sale, the director now directly owns 55,557 shares in the company, valued at approximately $765,575.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

ROIC has been the topic of several recent research reports. Raymond James lowered Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 4th. BTIG Research lowered Retail Opportunity Investments from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 11th. Finally, StockNews.com lowered Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research report on Thursday, March 2nd. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, Retail Opportunity Investments presently has an average rating of “Hold” and an average price target of $17.00.

Retail Opportunity Investments Profile

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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.