Retail Opportunity Investments (NASDAQ:ROIC) Downgraded by KeyCorp to “Sector Weight”

Retail Opportunity Investments (NASDAQ:ROIC) was downgraded by equities research analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a note issued to investors on Tuesday, Briefing.com reports.

Several other brokerages also recently issued reports on ROIC. Bank of America assumed coverage on Retail Opportunity Investments in a report on Thursday, October 24th. They set an “underperform” rating and a $14.00 price target for the company. Wells Fargo & Company increased 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 report on Wednesday, August 28th. Raymond James cut shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. 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 and four have given a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.50.

Retail Opportunity Investments Stock Up 7.8 %

Shares of ROIC opened at $16.80 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92. Retail Opportunity Investments has a 52 week low of $11.80 and a 52 week high of $17.17. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 36.52 and a beta of 1.44. The stock has a fifty day moving average of $15.62 and a 200-day moving average of $14.00.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share 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 business had revenue of $83.50 million during the quarter, compared to the consensus estimate of $82.13 million. During the same period last year, the business posted $0.27 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Retail Opportunity Investments

Institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC raised its stake in shares of Retail Opportunity Investments by 1,473.1% in 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 increased its holdings in Retail Opportunity Investments by 4,320.3% in the 3rd quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 3,197 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Retail Opportunity Investments by 35.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock valued at $77,000 after acquiring an additional 1,289 shares during the period. Meeder Asset Management Inc. purchased a new stake in Retail Opportunity Investments during the second quarter valued at about $82,000. Finally, Point72 DIFC Ltd boosted its position in Retail Opportunity Investments by 71.8% during 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. Hedge funds and other institutional investors own 97.16% of the company’s stock.

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.