Retail Opportunity Investments (NASDAQ:ROIC) Lowered to Sell at StockNews.com

by · The Markets Daily

StockNews.com cut shares of Retail Opportunity Investments (NASDAQ:ROIC – Free Report) from a hold rating to a sell rating in a report published on Friday morning.

ROIC has been the topic of several other reports. Bank of America lowered shares of Retail Opportunity Investments from a buy rating to a neutral rating and dropped their price target for the company from $15.00 to $13.00 in a research note on Monday, November 6th. KeyCorp upgraded shares of Retail Opportunity Investments from a sector weight rating to an overweight rating and set a $16.00 price target on the stock in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $15.00.

Check Out Our Latest Stock Analysis on ROIC

Retail Opportunity Investments Stock Up 0.8 %

Shares of NASDAQ:ROIC opened at $14.11 on Friday. The firm’s 50 day moving average price is $13.48 and its 200 day moving average price is $13.26. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 48.66, a price-to-earnings-growth ratio of 8.12 and a beta of 1.45. Retail Opportunity Investments has a fifty-two week low of $10.98 and a fifty-two week high of $16.37. The company has a quick ratio of 4.13, a current ratio of 4.13 and a debt-to-equity ratio of 1.14.

Retail Opportunity Investments (NASDAQ:ROIC – Get Free Report) last issued its earnings results on Tuesday, October 24th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.20). The firm had revenue of $78.27 million during the quarter, compared to analyst estimates of $80.99 million. Retail Opportunity Investments had a net margin of 11.35% and a return on equity of 2.68%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $0.27 EPS. As a group, equities research analysts predict that Retail Opportunity Investments will post 1.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Retail Opportunity Investments

A number of hedge funds have recently modified their holdings of ROIC. Centersquare Investment Management LLC grew its position in shares of Retail Opportunity Investments by 340.7% during the second quarter. Centersquare Investment Management LLC now owns 5,927,652 shares of the real estate investment trust’s stock worth $80,083,000 after acquiring an additional 4,582,498 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of Retail Opportunity Investments during the third quarter worth approximately $24,988,000. JPMorgan Chase & Co. grew its position in shares of Retail Opportunity Investments by 144.7% during the second quarter. JPMorgan Chase & Co. now owns 2,068,571 shares of the real estate investment trust’s stock worth $27,946,000 after acquiring an additional 1,223,135 shares during the last quarter. Norges Bank purchased a new position in Retail Opportunity Investments in the 4th quarter valued at $17,732,000. Finally, Lasalle Investment Management Securities LLC grew its position in Retail Opportunity Investments by 41.1% in the 2nd quarter. Lasalle Investment Management Securities LLC now owns 3,033,722 shares of the real estate investment trust’s stock valued at $40,986,000 after buying an additional 882,993 shares during the last quarter. 97.16% of the stock is currently owned by hedge funds and other institutional investors.

Retail Opportunity Investments Company Profile

(Get Free Report)

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 September 30, 2023, ROIC owned 93 shopping centers encompassing approximately 10.6 million square feet.

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