Retail Opportunity Investments (NASDAQ:ROIC) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research report released on Tuesday. The firm issued a hold rating on the real estate investment trust’s stock.

Several other equities research analysts also recently commented on the company. Robert W. Baird reiterated a “neutral” rating and issued a $17.50 price objective (up from $16.00) on shares of Retail Opportunity Investments in a report on Thursday, November 7th. KeyCorp cut shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Bank of America initiated coverage on shares of Retail Opportunity Investments in a report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 target price on the stock. Baird R W lowered shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Raymond James lowered Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.20.

Retail Opportunity Investments Trading Down 0.2 %

NASDAQ:ROIC opened at $17.41 on Tuesday. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 37.85 and a beta of 1.46. 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’s 50 day moving average price is $17.39 and its 200-day moving average price is $15.93. 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 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The business had revenue of $83.50 million during the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 EPS. On average, equities research analysts forecast that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Retail Opportunity Investments

Several hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC grew its holdings in Retail Opportunity Investments by 1,473.1% during the third 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. Principal Financial Group Inc. grew its stake 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 valued at $96,072,000 after acquiring an additional 75,803 shares during the period. Citigroup Inc. increased its holdings in Retail Opportunity Investments by 73.9% in the 3rd quarter. Citigroup Inc. now owns 238,315 shares of the real estate investment trust’s stock worth $3,749,000 after acquiring an additional 101,275 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Retail Opportunity Investments by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,347,118 shares of the real estate investment trust’s stock worth $36,920,000 after acquiring an additional 85,037 shares during the period. Finally, Barclays PLC lifted its holdings in Retail Opportunity Investments by 316.7% during the third quarter. Barclays PLC now owns 211,816 shares of the real estate investment trust’s stock valued at $3,331,000 after purchasing an additional 160,981 shares in the last quarter. 97.16% of the stock is currently owned by hedge funds and other institutional investors.

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.