KeyCorp Downgrades Retail Opportunity Investments (NASDAQ:ROIC) to Sector Weight

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) was downgraded by KeyCorp from an "overweight" rating to a "sector weight" rating in a research note issued on Tuesday, Marketbeat Ratings reports.

Several other brokerages also recently issued reports on ROIC. Wells Fargo & Company upped 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 note on Wednesday, August 28th. Raymond James downgraded Retail Opportunity Investments from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 30th. Bank of America initiated coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They set an "underperform" rating and a $14.00 target price on the stock. Finally, StockNews.com raised shares of Retail Opportunity Investments from a "sell" rating to a "hold" rating in a report on Monday, August 19th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $15.50.

Retail Opportunity Investments Stock Down 1.4 %

Shares of NASDAQ ROIC traded down $0.23 on Tuesday, reaching $16.57. 811,773 shares of the company's stock traded hands, compared to its average volume of 1,072,478. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04. The business's 50 day simple moving average is $15.62 and its two-hundred day simple moving average is $14.00. Retail Opportunity Investments has a 12 month low of $11.80 and a 12 month high of $17.17. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 36.52 and a beta of 1.44.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last released its earnings results 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). The company had revenue of $83.50 million during the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The company's revenue was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. As a group, equities research analysts forecast that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Institutional Trading of Retail Opportunity Investments

A number of hedge funds and other institutional investors have recently bought and sold shares of ROIC. Principal Financial Group Inc. lifted its holdings 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 valued at $74,975,000 after purchasing an additional 1,020,314 shares in the last quarter. Centersquare Investment Management LLC raised its holdings in Retail Opportunity Investments by 6.5% during the first quarter. Centersquare Investment Management LLC now owns 9,319,113 shares of the real estate investment trust's stock valued at $114,346,000 after acquiring an additional 571,370 shares during the period. Lasalle Investment Management Securities LLC lifted its position in shares of Retail Opportunity Investments by 14.8% in the first 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 acquiring an additional 469,905 shares in the last quarter. Easterly Investment Partners LLC bought a new position in shares of Retail Opportunity Investments in the third quarter worth about $4,556,000. Finally, Vanguard Group Inc. grew its position in shares of Retail Opportunity Investments by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust's stock worth $254,040,000 after purchasing an additional 160,068 shares in the last quarter. Hedge funds and other institutional investors own 97.16% of the company's stock.

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.