Retail Opportunity Investments Corp. (NASDAQ: ROIC) stock fell -2.73% on Monday to $13.52 against a previous-day closing price of $13.90. With 1.11 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.08 million shares. During the session, the REIT – Retail company that operates in wider Real Estate sector, reached to the highest price of $13.91 whereas the lowest price it dropped to was $13.52. The 52-week range on ROIC shows that it touched its highest point at $16.37 and its lowest point at $11.97 during that stretch. It currently has a 1-year price target of $15.62. With its current market cap of 1.74 billion, ROIC has annualized dividend of $0.60 while the current yield stands at 4.44%. Beta for the stock currently stands at 1.42.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ROIC was up-trending over the past week, with a rise of 1.20%, but this was up by 0.45% over a month. Three-month performance dropped to -0.52% while six-month performance rose 7.05%. The stock lost -13.78% in the past year, while it has lost -10.05% so far this year. A look at the trailing 12-month EPS for ROIC yields 0.35 with Next year EPS estimates of 0.32. For the next quarter, that number is 0.08. This implies an EPS growth rate of -5.90% for this year and 10.24% for next year. EPS is expected to grow by 8.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 4.40%.
Float and Shares Shorts:
At present, 125.12 million ROIC shares are outstanding with a float of 122.48 million shares on hand for trading. On Aug 30, 2023, short shares totaled 3.59 million, which was 2.85% higher than short shares on Jul 30, 2023. In addition to Mr. Stuart A. Tanz as the firm’s Pres, CEO & Director, Mr. Michael B. Haines serves as its Exec. VP, CFO, Treasurer & Sec.
Institutional Ownership:
Through their ownership of 98.92% of ROIC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 57.06% of ROIC, in contrast to 5.53% held by mutual funds. Shares owned by individuals account for 42.65%. As the largest shareholder in ROIC with 16.48% of the stake, BlackRock Fund Advisors holds 20,767,494 shares worth 20,767,494. A second-largest stockholder of ROIC, The Vanguard Group, Inc., holds 19,415,522 shares, controlling over 15.41% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in ROIC, holding 7,926,258 shares or 6.29% stake. With a 7.05% stake in ROIC, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 8,888,418 shares are owned by the mutual fund manager. The Vanguard Real Estate Index Fund, which owns about 4.19% of ROIC stock, is the second-largest Mutual Fund holder. It holds 5,276,903 shares valued at 71.03 million. Vanguard Total Stock Market ETF holds 2.90% of the stake in ROIC, owning 3,650,083 shares worth 49.13 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ROIC reported revenue of $78.22M and operating income of $26.60M. The EBITDA in the recently reported quarter was $50.95M and diluted EPS was $0.09.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ROIC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ROIC analysts setting a high price target of $17.00 and a low target of $14.00, the average target price over the next 12 months is $15.63. Based on these targets, ROIC could surge 25.74% to reach the target high and rise by 3.55% to reach the target low. Reaching the average price target will result in a growth of 15.61% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Dividends & Yield:
In terms of dividends, ROIC has a current ratio of $0.6, which is $0.6 over the trailing 12-months, while a dividend of $0.56 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and ROIC currently yields $4.44. In the past year, ROIC’s dividend yield has been $4.44, but when looking at the stock over the past five years, its yield has been $3.79. Accordingly, ROIC has a current buyback yield of $0.19. This was $0.19 for the TTM.
Summary of Insider Activity:
Insiders traded ROIC stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 4,000 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 13 over the past year. The total number of shares bought during that period was 771,191 while 411,495 shares were sold.
