Retail Opportunity Investments (NASDAQ:ROIC) Rating Lowered to Hold at Baird R W

Retail Opportunity Investments (NASDAQ:ROIC) was downgraded by Baird R W from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

ROIC has been the subject of several other research reports. StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. Wells Fargo & Company upped their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Raymond James downgraded Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. KeyCorp cut Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday. Finally, Bank of America initiated coverage on Retail Opportunity Investments in a research note on Thursday, October 24th. They set an “underperform” rating and a $14.00 target price on the stock. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, Retail Opportunity Investments currently has a consensus rating of “Hold” and a consensus price target of $16.17.

Retail Opportunity Investments Stock Performance

ROIC stock opened at $17.33 on Thursday. The stock’s 50 day simple moving average is $15.75 and its 200 day simple moving average is $14.11. Retail Opportunity Investments has a 12-month low of $11.80 and a 12-month high of $17.40. The firm has a market cap of $2.23 billion, a P/E ratio of 37.67 and a beta of 1.44. 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 (NASDAQ:ROIC) last issued 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 company had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 earnings per share. As a group, equities research analysts predict that Retail Opportunity Investments will post 1.04 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ROIC. Strategy Asset Managers LLC lifted its stake in Retail Opportunity Investments by 57.7% during the third quarter. Strategy Asset Managers LLC now owns 876,179 shares of the real estate investment trust’s stock valued at $13,782,000 after purchasing an additional 320,520 shares during the last quarter. Metis Global Partners LLC acquired a new stake in shares of Retail Opportunity Investments during the 3rd quarter valued at $206,000. GSA Capital Partners LLP acquired a new stake in shares of Retail Opportunity Investments during the 3rd quarter valued at $775,000. Easterly Investment Partners LLC bought a new stake in shares of Retail Opportunity Investments during the 3rd quarter worth $4,556,000. Finally, Principal Financial Group Inc. grew its holdings 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 acquiring an additional 75,803 shares during 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.