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

Equities researchers at StockNews.com started coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research note issued to investors on Saturday. The firm set a “hold” rating on the real estate investment trust’s stock.

A number of other analysts have also recently issued reports on the company. Bank of America began coverage on Retail Opportunity Investments in a research report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 target price for the company. BMO Capital Markets increased their price objective on Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a report on Friday, November 8th. Raymond James cut shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Baird R W cut shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, KeyCorp lowered shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, Retail Opportunity Investments has an average rating of “Hold” and an average target price of $16.17.

Retail Opportunity Investments Price Performance

ROIC stock opened at $17.35 on Friday. The stock has a market cap of $2.23 billion, a P/E ratio of 37.72 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 twelve month low of $11.87 and a twelve month high of $17.52. The company’s 50 day moving average is $17.01 and its two-hundred day moving average is $15.34.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate 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 company had revenue of $83.50 million for the quarter, compared to analyst estimates of $82.13 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. Retail Opportunity Investments’s revenue was up 2.5% compared to the same quarter last year. Research analysts expect that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ROIC. Arizona State Retirement System boosted its holdings in Retail Opportunity Investments by 2.7% in the 2nd quarter. Arizona State Retirement System now owns 35,555 shares of the real estate investment trust’s stock valued at $442,000 after purchasing an additional 927 shares in the last quarter. Creative Planning lifted its holdings in shares of Retail Opportunity Investments by 6.7% in the 3rd quarter. Creative Planning now owns 18,988 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 1,194 shares during the period. 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 valued at $77,000 after buying an additional 1,289 shares in the last quarter. Van ECK Associates Corp grew its holdings in Retail Opportunity Investments by 7.4% during the second quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock worth $236,000 after acquiring an additional 1,307 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in 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 in the last quarter. 97.16% of the stock is currently owned by institutional investors and hedge funds.

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.