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

Equities researchers at StockNews.com began coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the real estate investment trust’s stock.

Several other equities analysts have also recently commented on the stock. Bank of America began coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They set an “underperform” rating and a $14.00 price target on the stock. Raymond James downgraded Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. KeyCorp downgraded Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Wells Fargo & Company raised their price objective on Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $17.50 target price (up previously from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, Retail Opportunity Investments has an average rating of “Hold” and an average target price of $16.17.

Retail Opportunity Investments Trading Down 0.1 %

ROIC opened at $17.39 on Tuesday. The firm’s 50 day moving average is $16.23 and its 200-day moving average is $14.55. Retail Opportunity Investments has a 52-week low of $11.87 and a 52-week high of $17.43. 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 capitalization of $2.24 billion, a P/E ratio of 37.85 and a beta of 1.44.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings data 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). 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 analyst estimates of $82.13 million. During the same quarter last year, the business earned $0.27 EPS. Retail Opportunity Investments’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts expect that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Arizona State Retirement System lifted its holdings in Retail Opportunity Investments by 2.7% in the 2nd quarter. Arizona State Retirement System now owns 35,555 shares of the real estate investment trust’s stock valued at $442,000 after acquiring an additional 927 shares during the last quarter. Creative Planning raised its holdings in shares of Retail Opportunity Investments by 6.7% in the 3rd quarter. Creative Planning now owns 18,988 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 1,194 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Retail Opportunity Investments by 35.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 1,289 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Retail Opportunity Investments by 7.4% during the second quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock worth $236,000 after buying an additional 1,307 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew 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 last quarter. 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.