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

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

Several other research analysts have also recently weighed in on the company. Raymond James cut Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. BMO Capital Markets raised their price objective on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research report on Friday, November 8th. Baird R W cut shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Robert W. Baird reissued a “neutral” rating and set a $17.50 target price (up from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. Finally, Bank of America started coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price target on the stock. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $16.17.

Retail Opportunity Investments Stock Performance

ROIC opened at $17.35 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average is $16.99 and its 200-day moving average is $15.28. The stock has a market cap of $2.23 billion, a PE ratio of 37.72 and a beta of 1.47. Retail Opportunity Investments has a twelve month low of $11.87 and a twelve month high of $17.52.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $83.50 million for 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 was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS. On average, analysts predict that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Hedge Funds Weigh In On Retail Opportunity Investments

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of Retail Opportunity Investments by 1.3% in the third quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust’s stock worth $96,072,000 after buying an additional 75,803 shares during the period. Geode Capital Management LLC lifted its stake in Retail Opportunity Investments by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,290,973 shares of the real estate investment trust’s stock worth $51,776,000 after acquiring an additional 24,421 shares in the last quarter. Barclays PLC boosted its position in Retail Opportunity Investments by 316.7% during the 3rd quarter. Barclays PLC now owns 211,816 shares of the real estate investment trust’s stock worth $3,331,000 after acquiring an additional 160,981 shares during the period. Public Employees Retirement System of Ohio grew its stake in Retail Opportunity Investments by 0.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 183,780 shares of the real estate investment trust’s stock valued at $2,891,000 after acquiring an additional 1,400 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Retail Opportunity Investments in the 3rd quarter valued at about $267,000. 97.16% of the stock is currently owned by hedge funds and other institutional investors.

Retail Opportunity Investments Company Profile

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.