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

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

Several other equities research analysts also recently issued reports on the company. Wells Fargo & Company upped their price target on Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Robert W. Baird reiterated a “neutral” rating and issued a $17.50 target price (up previously from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. Raymond James lowered shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. 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 research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $16.17.

Retail Opportunity Investments Price Performance

Shares of NASDAQ:ROIC opened at $17.38 on Monday. Retail Opportunity Investments has a twelve month low of $11.87 and a twelve month high of $17.40. The stock’s 50 day moving average is $16.06 and its 200-day moving average is $14.38. 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 market capitalization of $2.24 billion, a price-to-earnings ratio of 37.78 and a beta of 1.44.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its 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 business had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 earnings per share. Sell-side analysts forecast that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in Retail Opportunity Investments by 1,473.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 1,753 shares during the period. Vanguard Group Inc. grew its position in shares of Retail Opportunity Investments by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust’s stock valued at $254,040,000 after purchasing an additional 160,068 shares in the last quarter. Lasalle Investment Management Securities LLC raised 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 purchasing an additional 469,905 shares during the period. Federated Hermes Inc. lifted its holdings in Retail Opportunity Investments by 2.9% during the 2nd quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock worth $56,652,000 after purchasing an additional 127,799 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Retail Opportunity Investments by 1.3% during the 3rd quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust’s stock worth $96,072,000 after purchasing an additional 75,803 shares in the last quarter. Institutional investors 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.