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

Stock analysts at StockNews.com began coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research report issued to clients and investors on Sunday. The firm set a “hold” rating on the real estate investment trust’s stock.

A number of other research analysts also recently issued reports on the stock. Raymond James downgraded shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Bank of America assumed coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They set an “underperform” rating and a $14.00 price objective for the company. Robert W. Baird reiterated a “neutral” rating and set a $17.50 target price (up previously from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. BMO Capital Markets raised their price target on Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research note on Friday, November 8th. Finally, Baird R W cut Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $16.17.

Retail Opportunity Investments Stock Up 0.1 %

Shares of NASDAQ ROIC opened at $17.38 on Friday. The stock has a market cap of $2.24 billion, a P/E ratio of 37.78 and a beta of 1.46. The business’s fifty day simple moving average is $17.18 and its 200-day simple moving average is $15.49. Retail Opportunity Investments has a 12-month low of $11.87 and a 12-month high of $17.52. 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 quarterly earnings results 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). The company had revenue of $83.50 million for 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%. Retail Opportunity Investments’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. As a group, equities analysts predict that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Retail Opportunity Investments

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Retail Opportunity Investments by 8.9% in the 4th quarter. GAMMA Investing LLC now owns 10,183 shares of the real estate investment trust’s stock valued at $177,000 after purchasing an additional 832 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Retail Opportunity Investments by 2.7% in the second quarter. Arizona State Retirement System now owns 35,555 shares of the real estate investment trust’s stock valued at $442,000 after acquiring an additional 927 shares during the period. Creative Planning boosted its holdings in shares of Retail Opportunity Investments by 6.7% in the third quarter. Creative Planning now owns 18,988 shares of the real estate investment trust’s stock valued at $299,000 after acquiring an additional 1,194 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Retail Opportunity Investments by 35.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock worth $77,000 after acquiring an additional 1,289 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Retail Opportunity Investments by 7.4% in the 2nd quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock valued at $236,000 after acquiring an additional 1,307 shares during the period. Hedge funds and other institutional investors 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.