GABELLI & Co INVESTMENT ADVISERS INC. Buys Shares of 173,250 Retail Opportunity Investments Corp. (NASDAQ:ROIC)

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Retail Opportunity Investments Corp. (NASDAQ:ROIC) in the fourth quarter, Holdings Channel.com reports. The fund purchased 173,250 shares of the real estate investment trust’s stock, valued at approximately $3,008,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Gabelli Funds LLC acquired a new position in Retail Opportunity Investments during the fourth quarter worth $6,263,000. Mariner LLC boosted its position in shares of Retail Opportunity Investments by 7.2% in the 4th quarter. Mariner LLC now owns 11,778 shares of the real estate investment trust’s stock worth $204,000 after buying an additional 795 shares in the last quarter. Barclays PLC increased its holdings in Retail Opportunity Investments by 22.6% during the 4th quarter. Barclays PLC now owns 259,711 shares of the real estate investment trust’s stock valued at $4,507,000 after acquiring an additional 47,895 shares in the last quarter. Summit Investment Advisors Inc. raised its position in Retail Opportunity Investments by 5.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 12,967 shares of the real estate investment trust’s stock worth $225,000 after acquiring an additional 728 shares during the last quarter. Finally, Water Island Capital LLC purchased a new stake in shares of Retail Opportunity Investments in the fourth quarter valued at about $22,767,000. Institutional investors and hedge funds own 97.16% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Retail Opportunity Investments in a research report on Friday. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, Retail Opportunity Investments presently has a consensus rating of “Hold” and a consensus price target of $16.20.

Retail Opportunity Investments Stock Up 0.1 %

ROIC opened at $17.51 on Tuesday. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 38.07 and a beta of 1.45. Retail Opportunity Investments Corp. has a 12 month low of $11.87 and a 12 month high of $17.52. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. The business has a 50-day moving average of $17.51 and a two-hundred day moving average of $17.13.

Retail Opportunity Investments 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.