Analysts Set Retail Opportunity Investments Corp. (NASDAQ:ROIC) Price Target at $16.20

Retail Opportunity Investments Corp. (NASDAQ:ROIC) has earned a consensus recommendation of “Reduce” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $16.20.

A number of equities analysts recently issued reports on the stock. Baird R W cut shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Robert W. Baird reiterated a “neutral” rating and issued a $17.50 price target (up previously from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. KeyCorp cut shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. StockNews.com assumed coverage on shares of Retail Opportunity Investments in a research note on Tuesday. They issued a “hold” rating on the stock. Finally, BMO Capital Markets upped their price target on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a research note on Friday, November 8th.

Retail Opportunity Investments Stock Up 0.1 %

Shares of Retail Opportunity Investments stock opened at $17.45 on Tuesday. 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 company’s fifty day simple moving average is $17.40 and its two-hundred day simple moving average is $15.97. The company has a market cap of $2.25 billion, a P/E ratio of 37.93 and a beta of 1.46. Retail Opportunity Investments has a 12-month low of $11.87 and a 12-month high of $17.52.

Retail Opportunity Investments (NASDAQ:ROIC) last released 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). The business had revenue of $83.50 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 earnings per share. Research analysts anticipate that Retail Opportunity Investments will post 1.04 EPS for the current year.

Hedge Funds Weigh In On Retail Opportunity Investments

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its stake in shares of Retail Opportunity Investments by 1.3% in the 3rd quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust’s stock worth $96,072,000 after purchasing an additional 75,803 shares during the period. Geode Capital Management LLC lifted its stake in shares of Retail Opportunity Investments by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,290,973 shares of the real estate investment trust’s stock worth $51,776,000 after purchasing an additional 24,421 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Retail Opportunity Investments by 3.8% in 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 purchasing an additional 85,037 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Retail Opportunity Investments by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,834,124 shares of the real estate investment trust’s stock worth $22,798,000 after purchasing an additional 39,980 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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 acquiring an additional 711,835 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.