Retail Opportunity Investments (NASDAQ:ROIC) Now Covered by Bank of America

Equities researchers at Bank of America assumed coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) in a research note issued to investors on Thursday, StockNewsAPI reports. The brokerage set an "underperform" rating and a $14.00 price target on the real estate investment trust's stock. Bank of America's target price would indicate a potential downside of 11.73% from the stock's previous close.

ROIC has been the subject of a number of other research reports. Raymond James lifted their price target on Retail Opportunity Investments from $15.00 to $16.00 and gave the company an "outperform" rating in a research report on Friday, August 16th. Wells Fargo & Company lifted their price target on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 28th. Finally, StockNews.com upgraded Retail Opportunity Investments from a "sell" rating to a "hold" rating in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $15.50.

Retail Opportunity Investments Price Performance

NASDAQ ROIC traded down $0.03 during trading hours on Thursday, hitting $15.86. The company had a trading volume of 1,223,048 shares, compared to its average volume of 1,084,458. Retail Opportunity Investments has a 52 week low of $10.98 and a 52 week high of $16.27. The firm has a 50 day simple moving average of $15.54 and a 200 day simple moving average of $13.79. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 52.97, a PEG ratio of 2.07 and a beta of 1.45.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last issued 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 2.57% and a net margin of 10.40%. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS. Equities research analysts expect that Retail Opportunity Investments will post 1.05 earnings per share for the current year.

Hedge Funds Weigh In On Retail Opportunity Investments

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Retail Opportunity Investments by 0.8% in the 1st 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 during the period. Centersquare Investment Management LLC grew its position in shares of Retail Opportunity Investments by 6.5% in 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. Principal Financial Group Inc. grew its position in shares of Retail Opportunity Investments by 20.4% in the 2nd quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust's stock worth $74,975,000 after buying an additional 1,020,314 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Retail Opportunity Investments by 2.9% in the 2nd quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust's stock worth $56,652,000 after buying an additional 127,799 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC grew 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 last quarter. 97.16% of the stock is owned by hedge funds and other institutional investors.

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.