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

Research analysts at StockNews.com initiated coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a report released on Wednesday. The firm set a “hold” rating on the real estate investment trust’s stock.

A number of other equities analysts also recently commented on the stock. BMO Capital Markets boosted their price objective 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. Raymond James lowered Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Baird R W cut 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 target price (up previously from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. Finally, 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 for the company. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, Retail Opportunity Investments has a consensus rating of “Hold” and a consensus price target of $16.17.

Retail Opportunity Investments Price Performance

ROIC opened at $17.41 on Wednesday. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 37.85 and a beta of 1.47. 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 has a 12-month low of $11.87 and a 12-month high of $17.44. The business’s fifty day simple moving average is $16.39 and its 200-day simple moving average is $14.72.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its 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). The business had revenue of $83.50 million for 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 was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 earnings per share. On average, equities research analysts anticipate that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Retail Opportunity Investments

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its stake in shares of 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 worth $29,000 after acquiring an additional 1,753 shares during the last quarter. Allworth Financial LP grew its position in Retail Opportunity Investments by 4,320.3% during the 3rd 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Retail Opportunity Investments by 35.2% during the 3rd 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 in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Retail Opportunity Investments in the second quarter worth $82,000. Finally, Point72 DIFC Ltd raised its holdings in shares of Retail Opportunity Investments by 71.8% in the second 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 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.