Wells Fargo & Company Increases Retail Opportunity Investments (NASDAQ:ROIC) Price Target to $16.00

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) had its price target increased by research analysts at Wells Fargo & Company from $13.50 to $16.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's price objective suggests a potential upside of 2.24% from the stock's previous close.

ROIC has been the subject of several other reports. Raymond James boosted their target price on shares of Retail Opportunity Investments from $15.00 to $16.00 and gave the company an "outperform" rating in a research note on Friday, August 16th. StockNews.com upgraded Retail Opportunity Investments from a "sell" rating to a "hold" rating in a research note on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $15.00.

Retail Opportunity Investments Stock Performance

ROIC traded down $0.06 during trading on Wednesday, reaching $15.65. 528,283 shares of the company's stock were exchanged, compared to its average volume of 1,140,369. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.38 and a quick ratio of 1.38. Retail Opportunity Investments has a 1 year low of $10.98 and a 1 year high of $15.75. The company's fifty day simple moving average is $13.85 and its 200-day simple moving average is $13.01. The stock has a market capitalization of $1.99 billion, a P/E ratio of 52.17, a price-to-earnings-growth ratio of 2.01 and a beta of 1.45.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last issued its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.19). The business had revenue of $83.32 million for the quarter, compared to analysts' expectations of $81.19 million. Retail Opportunity Investments had a return on equity of 2.57% and a net margin of 10.40%. The company's revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS. As a group, research analysts predict that Retail Opportunity Investments will post 1.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Inspire Investing LLC grew its holdings in shares of Retail Opportunity Investments by 3.1% during the first quarter. Inspire Investing LLC now owns 28,070 shares of the real estate investment trust's stock worth $360,000 after buying an additional 856 shares in the last quarter. Arizona State Retirement System raised its holdings in Retail Opportunity Investments by 2.7% in the 2nd quarter. Arizona State Retirement System now owns 35,555 shares of the real estate investment trust's stock valued at $442,000 after acquiring an additional 927 shares during the last quarter. Van ECK Associates Corp lifted its stake in Retail Opportunity Investments by 7.4% in the 2nd quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust's stock worth $236,000 after purchasing an additional 1,307 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in shares of Retail Opportunity Investments by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 110,276 shares of the real estate investment trust's stock worth $1,414,000 after purchasing an additional 1,476 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in shares of Retail Opportunity Investments by 2.7% in the second quarter. Louisiana State Employees Retirement System now owns 64,100 shares of the real estate investment trust's stock valued at $797,000 after purchasing an additional 1,700 shares in the last quarter. 97.16% of the stock is owned by institutional investors and hedge funds.

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.