Retail Opportunity Investments (NASDAQ:ROIC) Now Covered by StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a report issued on Saturday. The brokerage set a “hold” rating on the real estate investment trust’s stock.

A number of other research analysts also recently weighed in on the stock. Robert W. Baird restated a “neutral” rating and set a $17.50 price target (up previously from $16.00) on shares of Retail Opportunity Investments in a report on Thursday, November 7th. Baird R W lowered Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. KeyCorp cut Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Raymond James lowered Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets boosted their target price on Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Retail Opportunity Investments presently has an average rating of “Hold” and an average price target of $16.17.

Retail Opportunity Investments Price Performance

ROIC opened at $17.35 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04. Retail Opportunity Investments has a 1 year low of $11.87 and a 1 year high of $17.52. The stock has a fifty day moving average price of $16.99 and a 200 day moving average price of $15.28. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 37.72 and a beta of 1.47.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $83.50 million for the quarter, compared to analyst estimates of $82.13 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. Analysts forecast that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Retail Opportunity Investments

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC grew its position in Retail Opportunity Investments by 1,473.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,753 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Retail Opportunity Investments by 4,320.3% in the third quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 3,197 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position 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 worth $77,000 after buying an additional 1,289 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Retail Opportunity Investments during the second quarter valued at about $82,000. Finally, Point72 DIFC Ltd raised its holdings in Retail Opportunity Investments by 71.8% in the 2nd quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 3,145 shares in 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.