StockNews.com Begins Coverage on Retail Opportunity Investments (NASDAQ:ROIC)

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

ROIC has been the subject of several other reports. Wells Fargo & Company upped their target price on 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. Bank of America initiated coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They set an “underperform” rating and a $14.00 price objective for the company. KeyCorp cut shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Robert W. Baird restated a “neutral” rating and issued a $17.50 target price (up from $16.00) on shares of Retail Opportunity Investments in a report on Thursday, November 7th. Finally, Baird R W downgraded shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, Retail Opportunity Investments currently has a consensus rating of “Hold” and an average price target of $16.17.

Retail Opportunity Investments Price Performance

NASDAQ:ROIC opened at $17.40 on Friday. Retail Opportunity Investments has a 12-month low of $11.87 and a 12-month high of $17.52. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 37.83 and a beta of 1.47. The company’s 50-day moving average is $16.80 and its two-hundred day moving average is $15.10. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04.

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

Institutional Investors Weigh In On Retail Opportunity Investments

Large investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System boosted its position in Retail Opportunity Investments by 2.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 64,100 shares of the real estate investment trust’s stock worth $797,000 after purchasing an additional 1,700 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Retail Opportunity Investments by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 1,306,866 shares of the real estate investment trust’s stock valued at $16,244,000 after buying an additional 13,883 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Retail Opportunity Investments by 20.4% during the 2nd quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock valued at $74,975,000 after buying an additional 1,020,314 shares during the period. Van ECK Associates Corp lifted its position in Retail Opportunity Investments by 7.4% during the 2nd quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock worth $236,000 after acquiring an additional 1,307 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Retail Opportunity Investments by 1.1% in the 2nd quarter. Rhumbline Advisers now owns 428,775 shares of the real estate investment trust’s stock worth $5,330,000 after acquiring an additional 4,718 shares during the period. Institutional investors and hedge funds own 97.16% of the company’s stock.

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.