Retail Opportunity Investments (NASDAQ:ROIC) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a report issued on Tuesday. The brokerage set a “hold” rating on the real estate investment trust’s stock.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets increased their price target on Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a research note on Friday, November 8th. Robert W. Baird reaffirmed a “neutral” rating and issued a $17.50 price objective (up previously from $16.00) on shares of Retail Opportunity Investments in a report on Thursday, November 7th. Wells Fargo & Company raised their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Baird R W downgraded shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, KeyCorp cut shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $16.17.

Retail Opportunity Investments Stock Performance

Shares of ROIC stock opened at $17.40 on Tuesday. Retail Opportunity Investments has a 52 week low of $11.87 and a 52 week high of $17.42. The company has a market cap of $2.24 billion, a P/E ratio of 37.83 and a beta of 1.44. 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 business has a 50 day moving average of $16.17 and a two-hundred day moving average of $14.48.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The firm had revenue of $83.50 million for the quarter, compared to analyst estimates of $82.13 million. During the same period in the previous year, the firm earned $0.27 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, analysts anticipate that Retail Opportunity Investments will post 1.04 EPS for the current year.

Institutional Trading of Retail Opportunity Investments

Large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its holdings in shares of Retail Opportunity Investments by 1,473.1% in the third quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 1,753 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Retail Opportunity Investments by 4,320.3% in the 3rd quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 3,197 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Retail Opportunity Investments by 35.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 1,289 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Retail Opportunity Investments during the second quarter valued at $82,000. Finally, Point72 DIFC Ltd boosted its position in shares of Retail Opportunity Investments by 71.8% in the 2nd quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 3,145 shares during the period. 97.16% of the stock is currently owned by institutional investors.

About Retail Opportunity Investments

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.