Citigroup Inc. Increases Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Posted by Defense World Staff on Sep 6th, 2023

Citigroup Inc. increased its stake in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC – Free Report) by 44.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 192,683 shares of the real estate investment trust’s stock after buying an additional 59,699 shares during the quarter. Citigroup Inc. owned about 0.15% of Retail Opportunity Investments worth $2,690,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its holdings in Retail Opportunity Investments by 189.7% in the first quarter. Tower Research Capital LLC TRC now owns 2,497 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 1,635 shares during the last quarter. Signaturefd LLC boosted its holdings in Retail Opportunity Investments by 28.4% in the first quarter. Signaturefd LLC now owns 3,834 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 847 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Retail Opportunity Investments by 92.3% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,416 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 2,119 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Retail Opportunity Investments in the fourth quarter valued at $92,000. Finally, UBS Group AG boosted its holdings in Retail Opportunity Investments by 116.3% in the fourth quarter. UBS Group AG now owns 6,294 shares of the real estate investment trust’s stock valued at $95,000 after purchasing an additional 44,883 shares during the last quarter. 97.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Company assumed coverage on shares of Retail Opportunity Investments in a research note on Tuesday, May 23rd. They set an “overweight” rating and a $14.00 target price on the stock. Finally, Raymond James raised shares of Retail Opportunity Investments from a “market perform” rating to an “outperform” rating and set a $16.00 target price on the stock in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.67.

View Our Latest Stock Analysis on ROIC

Retail Opportunity Investments Trading Down 0.3 %

ROIC stock opened at $13.35 on Wednesday. Retail Opportunity Investments Corp. has a 52-week low of $11.97 and a 52-week high of $17.50. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.00. The company’s 50-day simple moving average is $13.95 and its 200-day simple moving average is $13.44. The firm has a market cap of $1.68 billion, a P/E ratio of 36.08, a PEG ratio of 3.37 and a beta of 1.41.

Retail Opportunity Investments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.60 annualized dividend and a dividend yield of 4.49%. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 162.16%.

Insider Buying and Selling

In related news, Director Laura H. Pomerantz sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $13.46, for a total transaction of $53,840.00. Following the completion of the transaction, the director now owns 51,557 shares in the company, valued at approximately $693,957.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.80% of the company’s stock.

About Retail Opportunity Investments

(Free Report)

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 June 30, 2023, ROIC owned 93 shopping centers encompassing approximately 10.6 million square feet.