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 note issued to investors on Thursday,Benzinga reports. They presently have a $17.50 target price on the real estate investment trust’s stock, up from their previous target price of $16.00. Robert W. Baird’s price objective would suggest a potential upside of 0.98% from the stock’s previous close.

Several other equities analysts have also commented on the stock. KeyCorp lowered shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday. Wells Fargo & Company lifted their target price on shares of 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. Raymond James cut shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Bank of America initiated coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They set an “underperform” rating and a $14.00 price target for the company. Finally, StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.17.

Retail Opportunity Investments Stock Performance

Shares of ROIC stock traded up $0.01 during trading on Thursday, reaching $17.33. 7,181,846 shares of the company’s stock traded hands, compared to its average volume of 2,449,443. Retail Opportunity Investments has a 1 year low of $11.80 and a 1 year high of $17.40. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $2.23 billion, a P/E ratio of 37.67 and a beta of 1.44. The firm’s 50-day moving average is $15.75 and its 200 day moving average is $14.11.

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

Institutional Trading of Retail Opportunity Investments

A number of large investors have recently made changes to their positions in ROIC. 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 buying 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 buying an additional 3,197 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position 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 purchasing an additional 1,289 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Retail Opportunity Investments in the second quarter worth approximately $82,000. Finally, Point72 DIFC Ltd boosted its position in shares of Retail Opportunity Investments by 71.8% in the second quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 3,145 shares during the period. 97.16% of the stock is currently owned by 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.