Retail Opportunity Investments (NASDAQ:ROIC) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research note issued to investors on Sunday. The firm set a “hold” rating on the real estate investment trust’s stock.

Several other brokerages have also recently weighed in on ROIC. Raymond James cut shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. BMO Capital Markets boosted their target price on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a report on Friday, November 8th. KeyCorp downgraded shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Bank of America initiated coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They set an “underperform” rating and a $14.00 price target on the stock. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $17.50 price objective (up from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.17.

Retail Opportunity Investments Trading Up 0.1 %

ROIC opened at $17.38 on Friday. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 37.78 and a beta of 1.46. The company’s 50 day simple moving average is $17.18 and its two-hundred day simple moving average is $15.49. Retail Opportunity Investments has a 1-year low of $11.87 and a 1-year high of $17.52. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. Retail Opportunity Investments’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 EPS. Analysts expect that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Institutional Trading of Retail Opportunity Investments

Several institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its stake in Retail Opportunity Investments by 1,473.1% during the third quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,753 shares in the last quarter. Allworth Financial LP raised 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 valued at $51,000 after buying an additional 3,197 shares during the period. Versant Capital Management Inc lifted its stake in Retail Opportunity Investments by 117.8% during the 4th quarter. Versant Capital Management Inc now owns 3,572 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 1,932 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Retail Opportunity Investments by 35.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock valued at $77,000 after acquiring an additional 1,289 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in Retail Opportunity Investments in the 2nd quarter valued at about $82,000. 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.