Retail Opportunity Investments Corp. (NASDAQ: ROIC) Short Interest Down 36.1% in January
Retail Opportunity Investments Corp. (NASDAQ:ROIC) was the target of a significant decline in short interest in the month of January. As of January 15, there was short interest totaling 2,880,000 shares, down 36.1% from the December 31 total of 4,510,000 shares. Based on an average daily volume of 1,090,000 shares, the day-to-cover ratio is currently 2.6 days. Currently, 2.4% of the company’s shares are sold short.
ROIC stock traded down $0.42 at midday on Friday, hitting $18.50. 1,122,971 shares of the company were traded, compared to its average volume of 1,044,741. Retail Opportunity Investments has a 52-week low of $13.73 and a 52-week high of $20.09. The stock has a market capitalization of $2.25 billion, a P/E ratio of 41.11, a PEG ratio of 5.36 and a beta of 1.48. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt ratio of 0.98. The stock’s 50-day moving average is $18.79 and its 200-day moving average is $18.17.
The company also recently announced a dividend, which was paid on Friday, January 14. Shareholders of record on Thursday, December 23 received a dividend of $0.07 per share. The ex-dividend date was Wednesday, December 22. Retail Opportunity Investments’ dividend payout ratio is currently 97.78%.
Separately, Zacks Investment Research downgraded shares of Retail Opportunity Investments from a “buy” rating to a “hold” rating in a Wednesday, Jan. 12 research note.
Hedge funds have recently changed their positions in the business. Vanguard Group Inc. increased its stake in the shares of Retail Opportunity Investments by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 18,583,547 shares of the real estate investment trust worth $328,185,000 after purchasing an additional 369,859 shares last quarter. State Street Corp increased its stake in shares of Retail Opportunity Investments by 1.8% during the second quarter. State Street Corp now owns 6,182,666 shares of the real estate investment trust valued at $109,861,000 after buying an additional 107,959 shares last quarter. Ranger Global Real Estate Advisors LLC purchased a new stock position in Retail Opportunity Investments during Q3 at a value of $49,863,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in the shares of Retail Opportunity Investments by 16.6% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,647,908 shares of the REIT valued at $46,127,000 after buying an additional 377,251 shares last quarter. Finally, Northern Trust Corp increased its equity stake in Retail Opportunity Investments by 9.5% during the second quarter. Northern Trust Corp now owns 2,593,090 shares of the real estate investment trust valued at $45,793,000 after buying an additional 224,889 shares last quarter. 95.54% of the shares are held by institutional investors and hedge funds.
About Investing in Retail Opportunities
Retail Opportunity Investments Corp. operates as a self-directed real estate investment trust. The Company is engaged in the ownership, management and redevelopment of commercial real estate properties. It specializes in the acquisition, ownership and management of grocery-anchored shopping malls located in densely populated West Coast metropolitan markets.
Feature story: What does the Producer Price Index (PPI) tell investors?
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in retail opportunity investments right now?
Before you consider investing in retail opportunities, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes over…and Retail Opportunity Investments didn’t make the list.
While Retail Opportunity Investments currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here