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

Research analysts at StockNews.com began coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a report released on Thursday. The brokerage set a “hold” rating on the real estate investment trust’s stock.

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

Retail Opportunity Investments Price Performance

Shares of NASDAQ ROIC opened at $17.44 on Thursday. The firm has a market capitalization of $2.24 billion, a P/E ratio of 37.91 and a beta of 1.47. The firm’s 50-day moving average price is $16.69 and its 200-day moving average price is $14.97. 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 1-year low of $11.87 and a 1-year high of $17.52.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The firm had revenue of $83.50 million for the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.27 earnings per share. Equities research analysts anticipate that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Retail Opportunity Investments

A number of institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of Retail Opportunity Investments by 1,473.1% during 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 in the last quarter. Allworth Financial LP increased its position in shares of Retail Opportunity Investments by 4,320.3% during 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 valued at $77,000 after acquiring an additional 1,289 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Retail Opportunity Investments during the second quarter worth $82,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in Retail Opportunity Investments by 78.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,122 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 3,124 shares during the last quarter. 97.16% of the stock is 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.