Robert W. Baird Reaffirms “Neutral” Rating for Retail Opportunity Investments (NASDAQ:ROIC)

Retail Opportunity Investments (NASDAQ:ROIC)‘s stock had its “neutral” rating restated by investment analysts at Robert W. Baird in a research note issued on Thursday,Benzinga reports. They presently have a $17.50 price objective on the real estate investment trust’s stock, up from their previous price objective of $16.00. Robert W. Baird’s price target suggests a potential upside of 0.98% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company upped their target price on shares of 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. Bank of America assumed coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price objective for the company. KeyCorp cut shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research report on Tuesday. StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Raymond James downgraded shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, Retail Opportunity Investments presently has a consensus rating of “Hold” and a consensus target price of $16.17.

Retail Opportunity Investments Trading Up 0.1 %

ROIC stock traded up $0.01 during trading on Thursday, hitting $17.33. The company had a trading volume of 7,181,846 shares, compared to its average volume of 2,449,443. 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 firm has a 50-day moving average price of $15.75 and a 200-day moving average price of $14.11. Retail Opportunity Investments has a 12 month low of $11.80 and a 12 month high of $17.40. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 37.67 and a beta of 1.44.

Retail Opportunity Investments (NASDAQ:ROIC) 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). Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The company had revenue of $83.50 million during the quarter, compared to the consensus estimate of $82.13 million. During the same quarter last year, the firm earned $0.27 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, analysts predict that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its position in shares of Retail Opportunity Investments by 20.4% during 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 acquiring an additional 1,020,314 shares in the last quarter. Centersquare Investment Management LLC boosted its position in Retail Opportunity Investments by 6.5% in 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 buying an additional 571,370 shares in the last quarter. Lasalle Investment Management Securities LLC raised its stake in shares of Retail Opportunity Investments by 14.8% during 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 during the last quarter. Strategy Asset Managers LLC raised its stake in shares of Retail Opportunity Investments by 57.7% during the third quarter. Strategy Asset Managers LLC now owns 876,179 shares of the real estate investment trust’s stock valued at $13,782,000 after acquiring an additional 320,520 shares during the last quarter. Finally, Easterly Investment Partners LLC bought a new position in Retail Opportunity Investments during the third quarter worth $4,556,000. 97.16% of the stock is owned by 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.