Retail Opportunity Investments (NASDAQ:ROIC) Downgraded by Baird R W to “Hold”

Retail Opportunity Investments (NASDAQ:ROIC) was downgraded by investment analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other analysts also recently weighed in on the company. KeyCorp downgraded Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday. StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note 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. Bank of America began coverage on Retail Opportunity Investments in a research note on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price target on the stock. Finally, 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 note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.90.

Retail Opportunity Investments Trading Down 0.2 %

Shares of ROIC stock opened at $17.32 on Thursday. The business’s 50 day moving average is $15.71 and its two-hundred day moving average is $14.07. Retail Opportunity Investments has a twelve month low of $11.80 and a twelve month high of $17.40. The company has a market capitalization of $2.23 billion, a P/E ratio of 37.65 and a beta of 1.44. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its earnings results 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 net margin of 17.38% and a return on equity of 4.32%. The company had revenue of $83.50 million during the quarter, compared to analysts’ expectations of $82.13 million. During the same quarter last year, the business posted $0.27 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts forecast that Retail Opportunity Investments will post 1.04 EPS for the current year.

Institutional Investors Weigh In On Retail Opportunity Investments

Institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in Retail Opportunity Investments by 1,473.1% during 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 acquiring an additional 1,753 shares during the period. Allworth Financial LP grew its position in Retail Opportunity Investments by 4,320.3% during the third quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 3,197 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Retail Opportunity Investments by 35.2% during 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 acquiring an additional 1,289 shares during the period. Meeder Asset Management Inc. purchased a new stake in Retail Opportunity Investments during the second quarter valued at about $82,000. Finally, Point72 DIFC Ltd grew its position in Retail Opportunity Investments by 71.8% during the second quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 3,145 shares during the period. Hedge funds and other institutional investors 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.