BMO Capital Markets Issues Positive Forecast for Retail Opportunity Investments (NASDAQ:ROIC) Stock Price

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) had its target price increased by stock analysts at BMO Capital Markets from $17.00 to $17.50 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "market perform" rating on the real estate investment trust's stock. BMO Capital Markets' price target would suggest a potential upside of 0.98% from the stock's current price.

Several other research analysts also recently issued reports on the company. Baird R W downgraded Retail Opportunity Investments from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Wells Fargo & Company lifted 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. KeyCorp lowered shares of Retail Opportunity Investments from an "overweight" rating to a "sector weight" rating in a research report on Tuesday. Robert W. Baird restated a "neutral" rating and set a $17.50 price objective (up from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday. Finally, Raymond James cut Retail Opportunity Investments from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $16.17.

Retail Opportunity Investments Price Performance

ROIC stock traded up $0.01 during trading on Friday, reaching $17.33. 7,181,846 shares of the company were exchanged, compared to its average volume of 1,306,351. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92. The stock's 50 day moving average price is $15.71 and its 200 day moving average price is $14.07. Retail Opportunity Investments has a 52-week low of $11.80 and a 52-week high of $17.40. The company has a market cap of $2.23 billion, a P/E ratio of 37.67 and a beta of 1.44.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last released its quarterly 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). The firm had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The business's revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. As a group, analysts predict that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ROIC. Principal Financial Group Inc. increased its position in 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 purchasing an additional 1,020,314 shares during the last quarter. Centersquare Investment Management LLC increased its holdings in shares of Retail Opportunity Investments by 6.5% during the 1st quarter. Centersquare Investment Management LLC now owns 9,319,113 shares of the real estate investment trust's stock worth $114,346,000 after buying an additional 571,370 shares during the last quarter. Lasalle Investment Management Securities LLC raised its position in shares of Retail Opportunity Investments by 14.8% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust's stock worth $46,783,000 after buying an additional 469,905 shares during the period. Strategy Asset Managers LLC boosted its holdings in Retail Opportunity Investments by 57.7% in the third quarter. Strategy Asset Managers LLC now owns 876,179 shares of the real estate investment trust's stock valued at $13,782,000 after acquiring an additional 320,520 shares during the last quarter. Finally, Easterly Investment Partners LLC purchased a new stake in Retail Opportunity Investments during the third quarter valued at about $4,556,000. 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.