Retail Opportunity Investments (NASDAQ:ROIC) Rating Lowered to “Hold” at Baird R W

Retail Opportunity Investments (NASDAQ:ROIC) was downgraded by equities researchers at Baird R W from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Robert W. Baird restated a “neutral” rating and set a $17.50 price objective (up from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday. Bank of America started coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They issued an “underperform” rating and a $14.00 target price for the company. StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. Wells Fargo & Company lifted their price objective on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Finally, KeyCorp downgraded Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, Retail Opportunity Investments currently has a consensus rating of “Hold” and a consensus target price of $16.17.

Retail Opportunity Investments Trading Up 0.1 %

Shares of Retail Opportunity Investments stock opened at $17.33 on Thursday. The company has a 50-day moving average of $15.75 and a two-hundred day moving average of $14.11. The stock has a market cap of $2.23 billion, a PE ratio of 37.67 and a beta of 1.44. 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 has a 12-month low of $11.80 and a 12-month high of $17.40.

Retail Opportunity Investments (NASDAQ:ROIC) last issued 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 analyst estimates of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The business’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 firm posted $0.27 earnings per share. On average, research analysts anticipate that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Retail Opportunity Investments

Several institutional investors have recently bought and sold shares of ROIC. Principal Financial Group Inc. increased its position in shares of Retail Opportunity Investments by 20.4% during the second quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock worth $74,975,000 after acquiring an additional 1,020,314 shares during the last quarter. Centersquare Investment Management LLC raised its position in shares of Retail Opportunity Investments by 6.5% in the 1st quarter. Centersquare Investment Management LLC now owns 9,319,113 shares of the real estate investment trust’s stock valued at $114,346,000 after purchasing an additional 571,370 shares in the last quarter. Lasalle Investment Management Securities LLC boosted its stake in shares of Retail Opportunity Investments by 14.8% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust’s stock valued at $46,783,000 after buying an additional 469,905 shares during the last quarter. Strategy Asset Managers LLC grew its position in shares of Retail Opportunity Investments by 57.7% during the third quarter. Strategy Asset Managers LLC now owns 876,179 shares of the real estate investment trust’s stock worth $13,782,000 after buying an additional 320,520 shares in the last quarter. Finally, Easterly Investment Partners LLC acquired a new stake in Retail Opportunity Investments in the third quarter valued at $4,556,000. 97.16% of the stock is currently owned by hedge funds and other 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.