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

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

A number of other research firms also recently issued reports on ROIC. Robert W. Baird restated a “neutral” rating and issued a $17.50 price target (up from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. Raymond James cut Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. BMO Capital Markets upped their price target on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research report on Friday, November 8th. Wells Fargo & Company raised their price objective on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Finally, KeyCorp cut shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.17.

Retail Opportunity Investments Price Performance

Shares of NASDAQ:ROIC opened at $17.31 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 37.63 and a beta of 1.47. The business has a 50-day simple moving average of $16.88 and a two-hundred day simple moving average of $15.17. Retail Opportunity Investments has a fifty-two week low of $11.87 and a fifty-two week high of $17.52.

Retail Opportunity Investments (NASDAQ:ROIC) last released 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 net margin of 17.38% and a return on equity of 4.32%. The company had revenue of $83.50 million for the quarter, compared to analysts’ expectations of $82.13 million. During the same period in the previous year, the firm 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, analysts expect that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Institutional Trading of Retail Opportunity Investments

Several institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in Retail Opportunity Investments by 1,473.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock worth $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% in the third quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock valued at $51,000 after acquiring 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 worth $77,000 after acquiring an additional 1,289 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Retail Opportunity Investments during the second quarter worth about $82,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in Retail Opportunity Investments by 78.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,122 shares of the real estate investment trust’s stock valued at $112,000 after purchasing an additional 3,124 shares during the period. 97.16% of the stock is currently owned by institutional investors.

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.