Retail Opportunity Investments (NASDAQ:ROIC) Downgraded by Raymond James to “Market Perform”

Retail Opportunity Investments (NASDAQ:ROIC) was downgraded by research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, Briefing.com reports.

ROIC has been the subject of several other reports. StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. Wells Fargo & Company lifted their price target on Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Finally, Bank of America initiated coverage on Retail Opportunity Investments in a research report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Retail Opportunity Investments presently has a consensus rating of “Hold” and an average target price of $15.50.

Retail Opportunity Investments Trading Down 1.0 %

NASDAQ:ROIC opened at $15.51 on Wednesday. The company has a market cap of $2.00 billion, a P/E ratio of 33.72 and a beta of 1.45. Retail Opportunity Investments has a 1 year low of $11.06 and a 1 year high of $16.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. The stock’s fifty day moving average price is $15.57 and its two-hundred day moving average price is $13.87.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its 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). Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The company had revenue of $83.50 million for the quarter, compared to analysts’ expectations of $82.13 million. During the same period in the previous year, the firm earned $0.27 EPS. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, analysts expect that Retail Opportunity Investments will post 1.04 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in Retail Opportunity Investments by 20.4% during the 2nd quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock valued at $74,975,000 after buying an additional 1,020,314 shares during the period. Easterly Investment Partners LLC purchased a new stake in shares of Retail Opportunity Investments during the first quarter worth about $7,764,000. Centersquare Investment Management LLC grew its stake in shares of Retail Opportunity Investments by 6.5% in the first quarter. Centersquare Investment Management LLC now owns 9,319,113 shares of the real estate investment trust’s stock worth $114,346,000 after purchasing an additional 571,370 shares during the last quarter. Lasalle Investment Management Securities LLC increased its holdings in Retail Opportunity Investments by 14.8% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust’s stock valued at $46,783,000 after purchasing an additional 469,905 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Retail Opportunity Investments by 12.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,181,551 shares of the real estate investment trust’s stock valued at $40,787,000 after purchasing an additional 351,287 shares during the last quarter. 97.16% of the stock is owned by hedge funds and other 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.