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

Equities researchers at StockNews.com assumed coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research report issued on Tuesday. The brokerage set a “hold” rating on the real estate investment trust’s stock.

Several other research analysts have also recently commented on the stock. KeyCorp cut shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Bank of America began coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They set an “underperform” rating and a $14.00 target price for the company. 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. Wells Fargo & Company upped their price objective on 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. Finally, Robert W. Baird reissued a “neutral” rating and set a $17.50 target price (up previously from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $16.17.

Retail Opportunity Investments Price Performance

ROIC stock opened at $17.39 on Tuesday. The business’s fifty day moving average price is $16.23 and its 200 day moving average price is $14.55. Retail Opportunity Investments has a 12-month low of $11.87 and a 12-month high of $17.43. 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 has a market capitalization of $2.24 billion, a PE ratio of 37.85 and a beta of 1.44.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The business had revenue of $83.50 million for the quarter, compared to analysts’ expectations of $82.13 million. During the same quarter last year, the company earned $0.27 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, sell-side analysts anticipate that Retail Opportunity Investments will post 1.04 EPS for the current year.

Institutional Trading of Retail Opportunity Investments

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in 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 buying an additional 24,421 shares during the last quarter. Barclays PLC lifted its holdings in shares of Retail Opportunity Investments by 316.7% during the 3rd quarter. Barclays PLC now owns 211,816 shares of the real estate investment trust’s stock worth $3,331,000 after acquiring an additional 160,981 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Retail Opportunity Investments by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 183,780 shares of the real estate investment trust’s stock worth $2,891,000 after acquiring an additional 1,400 shares during the last quarter. XTX Topco Ltd purchased a new stake in Retail Opportunity Investments in the third quarter valued at approximately $267,000. Finally, Quantinno Capital Management LP increased its position in Retail Opportunity Investments by 22.9% during the third quarter. Quantinno Capital Management LP now owns 23,073 shares of the real estate investment trust’s stock worth $363,000 after purchasing an additional 4,302 shares during the last quarter. Institutional investors and hedge funds 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.