Bank of America Begins Coverage on Retail Opportunity Investments (NASDAQ:ROIC)

Equities researchers at Bank of America assumed coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research report issued to clients and investors on Thursday, StockNewsAPI reports. The firm set an “underperform” rating and a $14.00 price target on the real estate investment trust’s stock. Bank of America‘s price objective points to a potential downside of 10.43% from the company’s current price.

A number of other equities analysts have also commented on ROIC. Wells Fargo & Company raised their price target on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Raymond James raised their target price on shares of Retail Opportunity Investments from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Finally, StockNews.com upgraded 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, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.50.

Retail Opportunity Investments Trading Down 1.5 %

Shares of ROIC stock opened at $15.63 on Thursday. Retail Opportunity Investments has a 12-month low of $10.98 and a 12-month high of $16.27. The firm has a 50 day moving average price of $15.56 and a two-hundred day moving average price of $13.83. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $1.99 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 2.08 and a beta of 1.45.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm had revenue of $83.50 million during the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.33%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. As a group, analysts predict that Retail Opportunity Investments will post 1.05 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Retail Opportunity Investments by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust’s stock valued at $254,040,000 after purchasing an additional 160,068 shares in the last quarter. Centersquare Investment Management LLC grew 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 acquiring an additional 571,370 shares during the last quarter. Principal Financial Group Inc. grew its position in Retail Opportunity Investments by 20.4% in the second quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock valued at $74,975,000 after acquiring an additional 1,020,314 shares during the last quarter. Federated Hermes Inc. raised its stake in Retail Opportunity Investments by 2.9% during 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 acquiring an additional 127,799 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC lifted its holdings in shares of Retail Opportunity Investments by 14.8% in the first quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust’s stock worth $46,783,000 after acquiring an additional 469,905 shares during the last quarter. 97.16% of the stock is currently owned by institutional investors and hedge funds.

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.