Retail Opportunity Investments' (ROIC) "Neutral" Rating Reiterated at Robert W. Baird

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report)'s stock had its "neutral" rating reiterated by analysts at Robert W. Baird in a report released on Thursday,Benzinga reports. They presently have a $17.50 price objective on the real estate investment trust's stock, up from their prior price objective of $16.00. Robert W. Baird's price target would indicate a potential upside of 0.98% from the company's current price.

A number of other equities analysts have also weighed in on ROIC. KeyCorp lowered Retail Opportunity Investments from an "overweight" rating to a "sector weight" rating in a research note on Tuesday. Bank of America assumed coverage on Retail Opportunity Investments in a research report on Thursday, October 24th. They set an "underperform" rating and a $14.00 price objective on the stock. StockNews.com upgraded shares of Retail Opportunity Investments from a "sell" rating to a "hold" rating in a report on Monday, August 19th. Raymond James downgraded Retail Opportunity Investments from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price objective on Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, Retail Opportunity Investments currently has a consensus rating of "Hold" and a consensus price target of $15.90.

Retail Opportunity Investments Stock Down 0.1 %

ROIC traded down $0.02 during trading on Thursday, hitting $17.33. 8,133,902 shares of the company's stock were exchanged, compared to its average volume of 1,265,901. The business's 50 day moving average is $15.67 and its two-hundred day moving average is $14.05. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04. Retail Opportunity Investments has a fifty-two week low of $11.80 and a fifty-two week high of $17.40. The stock has a market cap of $2.23 billion, a P/E ratio of 37.78 and a beta of 1.44.

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 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 firm's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the company posted $0.27 earnings per share. As a group, equities analysts expect that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Retail Opportunity Investments

Several hedge funds and other institutional investors have recently modified their holdings of the company. Metis Global Partners LLC bought a new position in Retail Opportunity Investments during the third quarter valued at about $206,000. GSA Capital Partners LLP purchased a new stake in shares of Retail Opportunity Investments during the 3rd quarter worth about $775,000. Easterly Investment Partners LLC bought a new position in Retail Opportunity Investments during the third quarter valued at approximately $4,556,000. Principal Financial Group Inc. raised its holdings in Retail Opportunity Investments by 1.3% during 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 in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Retail Opportunity Investments by 12.3% during the 3rd quarter. Van ECK Associates Corp now owns 21,302 shares of the real estate investment trust's stock valued at $338,000 after acquiring an additional 2,338 shares during the last quarter. Institutional investors and hedge funds 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.