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

Equities researchers at StockNews.com started coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a report released on Wednesday. The brokerage set a “hold” rating on the real estate investment trust’s stock.

ROIC has been the topic of a number of other research reports. Bank of America started coverage on Retail Opportunity Investments in a research note on Thursday, October 24th. They issued an “underperform” rating and a $14.00 target price on the stock. KeyCorp lowered Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. BMO Capital Markets lifted 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. Robert W. Baird reaffirmed a “neutral” rating and issued a $17.50 price objective (up previously from $16.00) on shares of Retail Opportunity Investments in a report on Thursday, November 7th. 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. 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 has an average rating of “Hold” and a consensus price target of $16.20.

Retail Opportunity Investments Price Performance

Shares of NASDAQ ROIC opened at $17.47 on Wednesday. Retail Opportunity Investments has a 52 week low of $11.87 and a 52 week high of $17.52. 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 cap of $2.25 billion, a P/E ratio of 37.98 and a beta of 1.46. The business’s 50 day moving average price is $17.40 and its 200 day moving average price is $16.13.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Retail Opportunity Investments by 296.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 952,252 shares of the real estate investment trust’s stock valued at $14,979,000 after purchasing an additional 711,835 shares during the last quarter. Strategy Asset Managers LLC grew its stake in shares of Retail Opportunity Investments by 57.7% in the third quarter. Strategy Asset Managers LLC now owns 876,179 shares of the real estate investment trust’s stock valued at $13,782,000 after buying an additional 320,520 shares in the last quarter. Easterly Investment Partners LLC purchased a new stake in shares of Retail Opportunity Investments in the 3rd quarter valued at $4,556,000. Barclays PLC lifted its stake 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 in the last quarter. Finally, Citigroup Inc. boosted its holdings in Retail Opportunity Investments by 73.9% during the 3rd quarter. Citigroup Inc. now owns 238,315 shares of the real estate investment trust’s stock valued at $3,749,000 after acquiring an additional 101,275 shares during the period. 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.