Retail Opportunity Investments (NASDAQ:ROIC) Stock Rating Lowered by Raymond James

Retail Opportunity Investments (NASDAQ:ROIC) was downgraded by equities researchers at Raymond James from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday, MarketBeat.com reports.

ROIC has been the topic of a number of other research reports. Wells Fargo & Company increased their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. Finally, Bank of America started coverage on Retail Opportunity Investments in a report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $15.50.

Retail Opportunity Investments Price Performance

Shares of NASDAQ ROIC opened at $15.50 on Wednesday. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 33.70 and a beta of 1.45. Retail Opportunity Investments has a 12 month low of $11.24 and a 12 month high of $16.27. The firm’s 50 day simple moving average is $15.59 and its 200-day simple moving average is $13.90. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its holdings in shares of 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 acquiring an additional 75,803 shares during the period. Van ECK Associates Corp increased its position in shares of Retail Opportunity Investments by 12.3% during the 3rd quarter. Van ECK Associates Corp now owns 21,302 shares of the real estate investment trust’s stock worth $338,000 after purchasing an additional 2,338 shares during the last quarter. abrdn plc increased its position in shares of Retail Opportunity Investments by 10.5% during the 3rd quarter. abrdn plc now owns 24,812 shares of the real estate investment trust’s stock worth $390,000 after purchasing an additional 2,367 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 purchasing an additional 1,289 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Retail Opportunity Investments by 4,320.3% during the 3rd quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 3,197 shares during the last quarter. Hedge funds and other 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.