Retail Opportunity Investments (NASDAQ:ROIC) Coverage Initiated by Analysts at StockNews.com

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

Retail Opportunity Investments Stock Performance

ROIC opened at $17.51 on Monday. 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 company has a market cap of $2.26 billion, a price-to-earnings ratio of 38.07 and a beta of 1.45. Retail Opportunity Investments has a 52-week low of $11.87 and a 52-week high of $17.52. The firm’s fifty day simple moving average is $17.46 and its two-hundred day simple moving average is $16.73.

Hedge Funds Weigh In On Retail Opportunity Investments

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROIC. Nexpoint Asset Management L.P. purchased a new position in Retail Opportunity Investments during the fourth quarter valued at $50,490,000. Picton Mahoney Asset Management purchased a new position in shares of Retail Opportunity Investments in the fourth quarter worth about $27,343,000. Alpine Associates Management Inc. purchased a new position in shares of Retail Opportunity Investments in the fourth quarter worth about $23,436,000. Water Island Capital LLC purchased a new position in shares of Retail Opportunity Investments in the fourth quarter worth about $22,767,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Retail Opportunity Investments by 58.7% in the fourth quarter. JPMorgan Chase & Co. now owns 3,235,094 shares of the real estate investment trust’s stock worth $56,161,000 after buying an additional 1,196,057 shares in the last quarter. 97.16% of the stock is 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.