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

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

ROIC has been the topic of a number of other research reports. BMO Capital Markets increased their target price on 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. Bank of America assumed coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They set an “underperform” rating and a $14.00 price objective for the company. Raymond James lowered shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. 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 report on Thursday, November 7th. Finally, Baird R W downgraded Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. One 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 company currently has an average rating of “Hold” and an average target price of $16.20.

Retail Opportunity Investments Stock Performance

Shares of ROIC opened at $17.44 on Tuesday. The stock has a 50-day moving average of $17.40 and a two-hundred day moving average of $15.97. 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 stock has a market cap of $2.25 billion, a P/E ratio of 37.91 and a beta of 1.46. Retail Opportunity Investments has a one year low of $11.87 and a one year high of $17.52.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The firm had revenue of $83.50 million during the quarter, compared to analysts’ expectations of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. Retail Opportunity Investments’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. As a group, research analysts predict that Retail Opportunity Investments will post 1.04 EPS for the current year.

Institutional Investors Weigh In On Retail Opportunity Investments

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROIC. International Assets Investment Management LLC raised its stake in shares of 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 valued at $29,000 after acquiring an additional 1,753 shares during the period. Allworth Financial LP increased its holdings in Retail Opportunity Investments by 4,320.3% in the 3rd quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 3,197 shares during the last quarter. Versant Capital Management Inc raised its position in Retail Opportunity Investments by 117.8% in 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 purchasing an additional 1,932 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in 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 purchasing an additional 1,289 shares in the last quarter. Finally, KBC Group NV lifted its stake in Retail Opportunity Investments by 51.7% during the fourth quarter. KBC Group NV now owns 6,026 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 2,053 shares in 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.