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

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

Several other equities research analysts also recently issued reports on the stock. KeyCorp downgraded shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Wells Fargo & Company increased their price objective 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. Baird R W downgraded shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. 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. Finally, BMO Capital Markets raised their target price on shares of 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. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.17.

Retail Opportunity Investments Price Performance

Shares of ROIC traded up $0.02 during mid-day trading on Monday, hitting $17.37. 2,064,662 shares of the company traded hands, compared to its average volume of 1,330,678. The business has a 50-day moving average of $15.97 and a 200 day moving average of $14.31. Retail Opportunity Investments has a one year low of $11.87 and a one year high of $17.40. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 37.76 and a beta of 1.44. 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 (NASDAQ:ROIC) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The company’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 earnings per share. As a group, equities 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 hedge funds and other institutional investors have recently modified their holdings of the company. Sei Investments Co. lifted its stake in shares of Retail Opportunity Investments by 15.1% during the 1st quarter. Sei Investments Co. now owns 120,437 shares of the real estate investment trust’s stock worth $1,544,000 after buying an additional 15,797 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Retail Opportunity Investments by 164.7% during the 1st quarter. Russell Investments Group Ltd. now owns 17,343 shares of the real estate investment trust’s stock worth $222,000 after buying an additional 10,790 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Retail Opportunity Investments by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 24,888 shares of the real estate investment trust’s stock worth $319,000 after buying an additional 1,705 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Retail Opportunity Investments by 30.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 45,895 shares of the real estate investment trust’s stock worth $641,000 after purchasing an additional 10,741 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Retail Opportunity Investments by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust’s stock worth $254,040,000 after purchasing an additional 160,068 shares in the last quarter. Institutional investors own 97.16% of the company’s stock.

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.