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

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

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company boosted their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Raymond James cut Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. BMO Capital Markets lifted their target price on Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a research report on Friday, November 8th. Robert W. Baird reissued a “neutral” rating and set a $17.50 price target (up from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday, November 7th. Finally, Bank of America began coverage on Retail Opportunity Investments in a research note on Thursday, October 24th. They set an “underperform” rating and a $14.00 price objective on the stock. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $16.17.

Retail Opportunity Investments Stock Down 0.2 %

Shares of NASDAQ ROIC opened at $17.40 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. Retail Opportunity Investments has a 1 year low of $11.87 and a 1 year high of $17.52. The stock’s 50-day simple moving average is $16.80 and its 200-day simple moving average is $15.10. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 37.83 and a beta of 1.47.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. During the same period in the previous year, the company earned $0.27 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities 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

Hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its position in shares of Retail Opportunity Investments by 20.4% during the second quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock worth $74,975,000 after acquiring an additional 1,020,314 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Retail Opportunity Investments by 296.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 952,252 shares of the real estate investment trust’s stock worth $14,979,000 after purchasing an additional 711,835 shares during the last quarter. Strategy Asset Managers LLC grew its position in Retail Opportunity Investments by 57.7% in the 3rd quarter. Strategy Asset Managers LLC now owns 876,179 shares of the real estate investment trust’s stock worth $13,782,000 after purchasing an additional 320,520 shares during the last quarter. Easterly Investment Partners LLC acquired a new stake in shares of Retail Opportunity Investments in the third quarter valued at approximately $4,556,000. Finally, Barclays PLC raised its holdings in shares of Retail Opportunity Investments by 316.7% during the third quarter. Barclays PLC now owns 211,816 shares of the real estate investment trust’s stock valued at $3,331,000 after buying an additional 160,981 shares during the last quarter. 97.16% of the stock is currently owned by institutional investors.

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.