Legal & General Group Plc Reduces Stock Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Legal & General Group Plc trimmed its position in Retail Opportunity Investments Corp. (NASDAQ:ROIC) by 8.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 899,968 shares of the real estate investment trust’s stock after selling 80,465 shares during the period. Legal & General Group Plc’s holdings in Retail Opportunity Investments were worth $15,623,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Picton Mahoney Asset Management purchased a new position in shares of Retail Opportunity Investments during the fourth quarter valued at approximately $27,343,000. Alpine Associates Management Inc. acquired a new position in Retail Opportunity Investments in the 4th quarter valued at $23,436,000. JPMorgan Chase & Co. lifted its stake in shares of Retail Opportunity Investments by 58.7% during the 4th quarter. JPMorgan Chase & Co. now owns 3,235,094 shares of the real estate investment trust’s stock worth $56,161,000 after purchasing an additional 1,196,057 shares during the period. Norges Bank acquired a new stake in shares of Retail Opportunity Investments during the fourth quarter worth $19,214,000. Finally, Alberta Investment Management Corp purchased a new stake in shares of Retail Opportunity Investments in the fourth quarter valued at $10,416,000. 97.16% of the stock is owned by institutional investors and hedge funds.

Retail Opportunity Investments Stock Up 0.1 %

Shares of NASDAQ ROIC opened at $17.51 on Tuesday. The stock has a market capitalization of $2.26 billion, a PE ratio of 38.07 and a beta of 1.45. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04. The firm has a fifty day moving average of $17.51 and a 200-day moving average of $17.13. Retail Opportunity Investments Corp. has a 52-week low of $11.87 and a 52-week high of $17.52.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Retail Opportunity Investments in a research report on Friday. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, Retail Opportunity Investments has an average rating of “Hold” and an average target price of $16.20.

Retail Opportunity Investments Company Profile

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 December 31, 2023, ROIC owned 94 shopping centers encompassing approximately 10.6 million square feet.