Brokerages Set Retail Opportunity Investments Corp. (NASDAQ:ROIC) Price Target at $16.20

Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) have been given a consensus rating of “Reduce” by the seven analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $16.20.

A number of research firms have commented on ROIC. Bank of America initiated coverage on Retail Opportunity Investments in a research report on Thursday, October 24th. They set an “underperform” rating and a $14.00 target price on the stock. BMO Capital Markets increased their price objective on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research note on Friday, November 8th. Robert W. Baird restated a “neutral” rating and set a $17.50 target price (up from $16.00) on shares of Retail Opportunity Investments in a report on Thursday, November 7th. Baird R W lowered shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, StockNews.com began coverage on Retail Opportunity Investments in a research report on Tuesday, January 21st. They set a “hold” rating for the company.

Hedge Funds Weigh In On Retail Opportunity Investments

Several institutional investors and hedge funds have recently modified their holdings of ROIC. International Assets Investment Management LLC grew its stake in Retail Opportunity Investments by 1,473.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 1,753 shares during the period. Allworth Financial LP boosted its holdings in shares of 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 worth $51,000 after purchasing an additional 3,197 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Retail Opportunity Investments by 117.8% in the fourth quarter. Versant Capital Management Inc now owns 3,572 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 1,932 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 valued at $77,000 after purchasing an additional 1,289 shares during the last quarter. Finally, Point72 DIFC Ltd lifted 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 buying 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 Price Performance

ROIC stock opened at $17.47 on Tuesday. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 37.98 and a beta of 1.46. 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 firm has a 50 day moving average of $17.40 and a 200-day moving average of $16.10. Retail Opportunity Investments has a 12-month low of $11.87 and a 12-month high of $17.52.

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.