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

StockNews.com started coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a report issued on Sunday. The firm set a “hold” rating on the real estate investment trust’s stock.

ROIC has been the subject of a number of other reports. Raymond James lowered shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Bank of America assumed coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They set an “underperform” rating and a $14.00 price objective for the company. Robert W. Baird reissued a “neutral” rating and issued a $17.50 target price (up from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. BMO Capital Markets upped their price target on Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research report on Friday, November 8th. Finally, KeyCorp lowered Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. 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, Retail Opportunity Investments currently has a consensus rating of “Hold” and an average price target of $16.17.

Retail Opportunity Investments Stock Up 0.1 %

Shares of NASDAQ:ROIC opened at $17.38 on Friday. Retail Opportunity Investments has a 12-month low of $11.87 and a 12-month high of $17.52. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04. The stock’s 50-day moving average price is $17.18 and its 200-day moving average price is $15.49. The stock has a market capitalization of $2.24 billion, a P/E ratio of 37.78 and a beta of 1.46.

Retail Opportunity Investments (NASDAQ:ROIC) last posted 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 return on equity of 4.32% and a net margin of 17.38%. The company had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. During the same quarter in the previous year, the business earned $0.27 earnings per share. Retail Opportunity Investments’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in shares of 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 valued at $29,000 after purchasing an additional 1,753 shares during the period. Allworth Financial LP lifted its position in Retail Opportunity Investments by 4,320.3% during 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. Versant Capital Management Inc boosted its holdings in shares of Retail Opportunity Investments by 117.8% during the 4th quarter. Versant Capital Management Inc now owns 3,572 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 1,932 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Retail Opportunity Investments by 35.2% in 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 buying an additional 1,289 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in shares of Retail Opportunity Investments in the 2nd quarter worth about $82,000. 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.