StockNews.com began coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) in a research report issued to clients and investors on Sunday. The firm set a "hold" rating on the real estate investment trust's stock.
A number of other research firms also recently issued reports on ROIC. Bank of America initiated coverage on Retail Opportunity Investments in a research note on Thursday, October 24th. They set an "underperform" rating and a $14.00 price target for the company. Baird R W cut shares of Retail Opportunity Investments from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 7th. KeyCorp cut shares of Retail Opportunity Investments from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, November 5th. Raymond James lowered Retail Opportunity Investments from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $17.50 target price (up from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, Retail Opportunity Investments has a consensus rating of "Hold" and an average price target of $16.17.
Get Our Latest Analysis on ROIC
Retail Opportunity Investments Stock Performance
Shares of ROIC traded up $0.02 during mid-day trading on Friday, hitting $17.38. 661,751 shares of the company traded hands, compared to its average volume of 1,019,175. Retail Opportunity Investments has a 1 year low of $11.87 and a 1 year high of $17.52. 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 has a 50-day moving average price of $17.18 and a two-hundred day moving average price of $15.51. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 37.78 and a beta of 1.46.
Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last announced its 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). Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The company had revenue of $83.50 million for the quarter, compared to analysts' expectations of $82.13 million. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Retail Opportunity Investments's quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts anticipate that Retail Opportunity Investments will post 1.04 earnings per share for the current year.
Hedge Funds Weigh In On Retail Opportunity Investments
Large investors have recently made changes to their positions in the business. Principal Financial Group Inc. raised its stake in Retail Opportunity Investments by 1.3% during the 3rd 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 purchasing an additional 75,803 shares during the period. Federated Hermes Inc. lifted its holdings in shares of 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 worth $56,652,000 after buying an additional 127,799 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Retail Opportunity Investments by 0.7% in the third quarter. Geode Capital Management LLC now owns 3,290,973 shares of the real estate investment trust's stock worth $51,776,000 after buying an additional 24,421 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Retail Opportunity Investments by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,347,118 shares of the real estate investment trust's stock worth $36,920,000 after buying an additional 85,037 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Retail Opportunity Investments by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,834,124 shares of the real estate investment trust's stock worth $22,798,000 after acquiring an additional 39,980 shares during the last quarter. 97.16% of the stock is currently owned by hedge funds and other institutional investors.
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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