Retail Opportunity Investments (NASDAQ:ROIC) Earns Underperform Rating from Analysts at Bank of America

Bank of America assumed coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research report released on Thursday morning, StockNewsAPI reports. The firm issued an underperform rating and a $14.00 price objective on the real estate investment trust’s stock.

A number of other equities analysts have also weighed in on ROIC. Raymond James boosted their price objective on shares of Retail Opportunity Investments from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Wells Fargo & Company raised their price objective on Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Retail Opportunity Investments presently has a consensus rating of “Hold” and an average target price of $15.50.

Retail Opportunity Investments Stock Performance

NASDAQ ROIC opened at $15.63 on Thursday. The business’s 50-day moving average price is $15.56 and its 200 day moving average price is $13.85. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.07. Retail Opportunity Investments has a twelve month low of $10.98 and a twelve month high of $16.27. The company has a market capitalization of $1.99 billion, a PE ratio of 52.10, a price-to-earnings-growth ratio of 2.08 and a beta of 1.45.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). Retail Opportunity Investments had a return on equity of 4.33% and a net margin of 17.38%. The company had revenue of $83.50 million for the quarter, compared to analysts’ expectations of $82.13 million. During the same quarter in the previous year, the company earned $0.27 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. On average, research analysts predict that Retail Opportunity Investments will post 1.05 earnings per share for the current year.

Retail Opportunity Investments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a $0.15 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.60 annualized dividend and a yield of 3.84%. Retail Opportunity Investments’s dividend payout ratio is currently 200.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ROIC. International Assets Investment Management LLC raised its holdings in shares of Retail Opportunity Investments by 1,473.1% during 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 buying an additional 1,753 shares during the period. Allworth Financial LP lifted its position in shares of 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 worth $51,000 after purchasing an additional 3,197 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Retail Opportunity Investments by 35.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 1,289 shares during the period. Meeder Asset Management Inc. acquired a new stake in Retail Opportunity Investments during the 2nd quarter valued at $82,000. Finally, Point72 DIFC Ltd increased its stake in Retail Opportunity Investments by 71.8% during the 2nd quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock worth $94,000 after buying an additional 3,145 shares during the period. Institutional investors and hedge funds own 97.16% of the company’s stock.

Retail Opportunity Investments Company Profile

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.