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

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

ROIC has been the topic of a number of other reports. BMO Capital Markets increased their price objective on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research note on Friday, November 8th. Bank of America started coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price target on the stock. Raymond James downgraded Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Baird R W cut Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $17.50 price target (up from $16.00) on shares of Retail Opportunity Investments in a 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. According to MarketBeat, Retail Opportunity Investments has a consensus rating of “Hold” and an average price target of $16.17.

Retail Opportunity Investments Price Performance

Shares of NASDAQ:ROIC opened at $17.35 on Friday. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 37.72 and a beta of 1.47. 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 business’s 50 day simple moving average is $17.01 and its 200-day simple moving average is $15.34. Retail Opportunity Investments has a 12 month low of $11.87 and a 12 month high of $17.52.

Retail Opportunity Investments (NASDAQ:ROIC) last posted 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 for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share. As a group, equities analysts forecast that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Retail Opportunity Investments

Several hedge funds have recently made changes to their positions in ROIC. Principal Financial Group Inc. increased its stake in Retail Opportunity Investments by 1.3% in the third quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust’s stock valued at $96,072,000 after purchasing an additional 75,803 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Retail Opportunity Investments by 2.9% during the 2nd quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock valued at $56,652,000 after acquiring an additional 127,799 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Retail Opportunity Investments by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,290,973 shares of the real estate investment trust’s stock worth $51,776,000 after acquiring an additional 24,421 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Retail Opportunity Investments by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,347,118 shares of the real estate investment trust’s stock worth $36,920,000 after acquiring an additional 85,037 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Retail Opportunity Investments by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,834,124 shares of the real estate investment trust’s stock valued at $22,798,000 after purchasing an additional 39,980 shares during the period. 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.