Retail Opportunity Investments (NASDAQ:ROIC) Now Covered by Analysts at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research note issued to investors on Sunday. The brokerage set a “hold” rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued reports about the company. Raymond James downgraded Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. KeyCorp lowered Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Bank of America started coverage on Retail Opportunity Investments in a research note on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price objective for the company. Robert W. Baird restated a “neutral” rating and set a $17.50 price target (up previously from $16.00) on shares of Retail Opportunity Investments in a report on Thursday, November 7th. Finally, Baird R W cut shares of 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 given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.20.

Retail Opportunity Investments Stock Up 0.2 %

ROIC opened at $17.42 on Friday. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 37.87 and a beta of 1.46. 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’s fifty day moving average is $17.21 and its 200 day moving average is $15.57. 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 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). 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 in the prior year, the business posted $0.27 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, sell-side analysts forecast that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Retail Opportunity Investments

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its stake in Retail Opportunity Investments by 1,473.1% in the third quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 1,753 shares in the last quarter. Allworth Financial LP boosted its holdings in 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 worth $51,000 after acquiring an additional 3,197 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Retail Opportunity Investments by 117.8% during the fourth quarter. Versant Capital Management Inc now owns 3,572 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 1,932 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Retail Opportunity Investments by 35.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 1,289 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Retail Opportunity Investments during the 2nd quarter valued at approximately $82,000. Hedge funds and other institutional investors 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.