Equities research analysts at StockNews.com initiated coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) in a research report issued on Wednesday. The firm set a "hold" rating on the real estate investment trust's stock.
Several other research analysts have also recently weighed in on the company. Bank of America began coverage on Retail Opportunity Investments in a report on Thursday, October 24th. They set an "underperform" rating and a $14.00 target price on the stock. Raymond James cut Retail Opportunity Investments from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 30th. 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 report on Friday, November 8th. KeyCorp cut Retail Opportunity Investments from an "overweight" rating to a "sector weight" rating in a report on Tuesday, November 5th. Finally, Baird R W cut Retail Opportunity Investments from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $16.17.
Read Our Latest Report on Retail Opportunity Investments
Retail Opportunity Investments Price Performance
Shares of Retail Opportunity Investments stock traded up $0.02 on Wednesday, hitting $17.43. The company's stock had a trading volume of 985,143 shares, compared to its average volume of 1,318,687. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92. Retail Opportunity Investments has a 1 year low of $11.87 and a 1 year high of $17.49. The firm has a fifty day moving average price of $16.39 and a 200-day moving average price of $14.72. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 37.85 and a beta of 1.47.
Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The firm had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The company's quarterly revenue was up 2.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.
Institutional Trading of Retail Opportunity Investments
Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC increased its holdings in Retail Opportunity Investments by 1,473.1% in the third quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 1,753 shares during the last quarter. Federated Hermes Inc. increased its holdings in Retail Opportunity Investments by 2.9% in the second quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust's stock valued at $56,652,000 after buying an additional 127,799 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Retail Opportunity Investments by 1.3% in the third 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 buying an additional 75,803 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Retail Opportunity Investments by 35.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust's stock valued at $77,000 after buying an additional 1,289 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Retail Opportunity Investments in the third quarter valued at $775,000. Hedge funds and other institutional investors own 97.16% of the company's stock.
Retail Opportunity Investments Company Profile
(
Get Free Report)
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.
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