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

Retail Opportunity Investments (NASDAQ:ROIC)‘s stock had its “neutral” rating reissued by equities researchers at Robert W. Baird in a research report issued on Thursday, Benzinga reports. They currently 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 target price points to a potential upside of 0.86% from the stock’s previous close.

A number of other research analysts also recently weighed in on ROIC. Wells Fargo & Company increased their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. KeyCorp downgraded Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a report on Tuesday. Raymond James cut Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Bank of America assumed coverage on Retail Opportunity Investments in a research report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 price target for the company. Finally, StockNews.com upgraded 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 five have given a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.90.

Retail Opportunity Investments Trading Up 4.6 %

Shares of NASDAQ:ROIC opened at $17.35 on Thursday. Retail Opportunity Investments has a 1 year low of $11.80 and a 1 year high of $17.40. The stock’s fifty day moving average price is $15.67 and its 200-day moving average price is $14.05. 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 company has a market cap of $2.23 billion, a P/E ratio of 37.72 and a beta of 1.44.

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 for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $83.50 million during the quarter, compared to the consensus estimate of $82.13 million. During the same period in the prior year, the company posted $0.27 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. Sell-side analysts expect that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Institutional Trading of Retail Opportunity Investments

Several institutional investors have recently made changes to their positions in the business. Inspire Investing LLC grew its position in shares of Retail Opportunity Investments by 3.1% during the first quarter. Inspire Investing LLC now owns 28,070 shares of the real estate investment trust’s stock worth $360,000 after purchasing an additional 856 shares in the last quarter. Arizona State Retirement System grew its position in shares of Retail Opportunity Investments by 2.7% during the second quarter. Arizona State Retirement System now owns 35,555 shares of the real estate investment trust’s stock worth $442,000 after purchasing an additional 927 shares in the last quarter. Creative Planning grew its position in shares of Retail Opportunity Investments by 6.7% during the third quarter. Creative Planning now owns 18,988 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 1,194 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Retail Opportunity Investments by 35.2% during 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 in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Retail Opportunity Investments by 7.4% during the second quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock worth $236,000 after purchasing an additional 1,307 shares in the last quarter. Hedge funds and other institutional investors own 97.16% of the company’s stock.

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.