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

Retail Opportunity Investments (NASDAQ:ROIC)‘s stock had its “neutral” rating reiterated by Robert W. Baird in a report released on Thursday, Benzinga reports. They presently have a $17.50 price target on the real estate investment trust’s stock, up from their prior price target of $16.00. Robert W. Baird’s price target would suggest a potential upside of 0.86% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Raymond James cut Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. KeyCorp cut 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 note on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price target on the stock. Wells Fargo & Company upped their price target on Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Finally, StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.90.

Retail Opportunity Investments Stock Performance

Shares of ROIC stock opened at $17.35 on Thursday. 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 fifty-two week low of $11.80 and a fifty-two week high of $17.40. The stock has a 50 day moving average price of $15.67 and a two-hundred day moving average price of $14.05. The company has a market capitalization of $2.23 billion, a P/E ratio of 37.72 and a beta of 1.44.

Retail Opportunity Investments (NASDAQ:ROIC) last announced 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 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 the consensus estimate of $82.13 million. During the same quarter in the previous year, the firm posted $0.27 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts expect that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Institutional Investors Weigh In On Retail Opportunity Investments

A number of institutional investors have recently modified their holdings of ROIC. International Assets Investment Management LLC grew its stake in shares of 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 worth $29,000 after acquiring an additional 1,753 shares during the last quarter. Allworth Financial LP grew its stake in shares of Retail Opportunity Investments by 4,320.3% in the third quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 3,197 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of 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 worth $77,000 after acquiring an additional 1,289 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Retail Opportunity Investments during the second quarter valued at $82,000. Finally, Point72 DIFC Ltd lifted its holdings in shares of 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 purchasing an additional 3,145 shares in the last quarter. 97.16% of the stock is owned by hedge funds and other 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.