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

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

A number of other equities research analysts have also weighed in on ROIC. Bank of America began coverage on shares of Retail Opportunity Investments in a report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 target price on the stock. Baird R W lowered Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. 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 cut shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets boosted their target price on Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $16.20.

Retail Opportunity Investments Stock Performance

Shares of ROIC opened at $17.38 on Monday. Retail Opportunity Investments has a one year low of $11.87 and a one year high of $17.52. The company has a market cap of $2.24 billion, a PE ratio of 37.78 and a beta of 1.46. The stock has a 50-day moving average of $17.37 and a 200-day moving average of $15.75. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts predict that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Retail Opportunity Investments

Several large investors have recently modified their holdings of ROIC. Principal Financial Group Inc. raised its stake in shares of Retail Opportunity Investments by 1.3% during the 3rd 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 period. Geode Capital Management LLC increased its holdings in 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. lifted its stake in Retail Opportunity Investments by 3.8% in the 3rd 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 purchasing an additional 85,037 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Retail Opportunity Investments by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,834,124 shares of the real estate investment trust’s stock worth $22,798,000 after purchasing an additional 39,980 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 valued at $14,979,000 after purchasing an additional 711,835 shares during the period. Hedge funds and other institutional investors 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.