Retail Opportunity Investments Corp. (NASDAQ:ROIC) Given Consensus Recommendation of “Reduce” by Analysts

Retail Opportunity Investments Corp. (NASDAQ:ROIC) has been assigned an average recommendation of “Reduce” from the seven brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $16.20.

A number of research firms have recently issued reports on ROIC. Raymond James lowered shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Bank of America initiated 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 objective for the company. BMO Capital Markets lifted their target price on Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a research report on Friday, November 8th. StockNews.com assumed coverage on Retail Opportunity Investments in a research note on Tuesday. They issued a “hold” rating on the stock. Finally, Baird R W lowered Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th.

Hedge Funds Weigh In On Retail Opportunity Investments

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in Retail Opportunity Investments by 8.9% in the fourth quarter. GAMMA Investing LLC now owns 10,183 shares of the real estate investment trust’s stock valued at $177,000 after acquiring an additional 832 shares during the period. Creative Planning boosted its position in Retail Opportunity Investments by 6.7% during the 3rd quarter. Creative Planning now owns 18,988 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 1,194 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake 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 worth $77,000 after buying an additional 1,289 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Retail Opportunity Investments by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 183,780 shares of the real estate investment trust’s stock worth $2,891,000 after buying an additional 1,400 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in Retail Opportunity Investments by 1,473.1% in the third quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 1,753 shares during the last quarter. Institutional investors and hedge funds own 97.16% of the company’s stock.

Retail Opportunity Investments Price Performance

ROIC stock opened at $17.45 on Tuesday. The stock has a 50-day moving average price of $17.39 and a two-hundred day moving average price of $15.93. The company has a market cap of $2.25 billion, a PE ratio of 37.93 and a beta of 1.46. 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 $11.87 and a 12-month high of $17.52.

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

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.