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 research note issued on Friday. The brokerage set a “hold” rating on the real estate investment trust’s stock.

Several other equities analysts have also recently issued reports on the company. Robert W. Baird reissued a “neutral” rating and set a $17.50 target price (up from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. KeyCorp lowered shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Wells Fargo & Company lifted their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Raymond James downgraded shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Finally, Baird R W cut Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report 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 MarketBeat, Retail Opportunity Investments currently has an average rating of “Hold” and an average price target of $16.17.

Retail Opportunity Investments Trading Down 0.5 %

NASDAQ:ROIC opened at $17.31 on Friday. The firm has a market capitalization of $2.23 billion, a P/E ratio of 37.63 and a beta of 1.47. 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 fifty day moving average of $16.88 and a 200 day moving average of $15.17. Retail Opportunity Investments has a 52 week low of $11.87 and a 52 week high of $17.52.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its 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). Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The firm had revenue of $83.50 million for the quarter, compared to analysts’ expectations of $82.13 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, research analysts predict that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Institutional Trading of Retail Opportunity Investments

Several hedge funds and other institutional investors have recently made changes to their positions in ROIC. Principal Financial Group Inc. grew its stake in shares of Retail Opportunity Investments by 20.4% in the second quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock worth $74,975,000 after acquiring an additional 1,020,314 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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 worth $14,979,000 after purchasing an additional 711,835 shares in the last quarter. Strategy Asset Managers LLC grew its position in Retail Opportunity Investments by 57.7% during the 3rd quarter. Strategy Asset Managers LLC now owns 876,179 shares of the real estate investment trust’s stock valued at $13,782,000 after purchasing an additional 320,520 shares during the last quarter. Easterly Investment Partners LLC bought a new stake in Retail Opportunity Investments during the 3rd quarter valued at about $4,556,000. Finally, Barclays PLC raised its holdings in Retail Opportunity Investments by 316.7% in the third quarter. Barclays PLC now owns 211,816 shares of the real estate investment trust’s stock worth $3,331,000 after buying an additional 160,981 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.