Retail Opportunity Investments (NASDAQ:ROIC) Downgraded by Baird R W to “Hold”

Retail Opportunity Investments (NASDAQ:ROIC) was downgraded by equities researchers at Baird R W from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. Raymond James cut Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised 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. Bank of America started coverage on Retail Opportunity Investments in a report on Thursday, October 24th. They set an “underperform” rating and a $14.00 target price for the company. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $17.50 price target (up previously from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.90.

Retail Opportunity Investments Stock Performance

NASDAQ ROIC opened at $17.32 on Thursday. The stock has a market cap of $2.23 billion, a PE ratio of 37.65 and a beta of 1.44. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04. Retail Opportunity Investments has a twelve month low of $11.80 and a twelve month high of $17.40. The stock has a fifty day simple moving average of $15.71 and a 200-day simple moving average of $14.07.

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

Institutional Investors Weigh In On Retail Opportunity Investments

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Metis Global Partners LLC acquired a new stake in shares of Retail Opportunity Investments during the 3rd quarter worth about $206,000. GSA Capital Partners LLP acquired a new stake in shares of Retail Opportunity Investments during the 3rd quarter worth about $775,000. Easterly Investment Partners LLC acquired a new stake in shares of Retail Opportunity Investments during the 3rd quarter worth about $4,556,000. Principal Financial Group Inc. raised its position in shares of Retail Opportunity Investments by 1.3% during the 3rd quarter. Principal Financial Group Inc. now owns 6,107,593 shares of the real estate investment trust’s stock worth $96,072,000 after acquiring an additional 75,803 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Retail Opportunity Investments by 12.3% during the 3rd quarter. Van ECK Associates Corp now owns 21,302 shares of the real estate investment trust’s stock worth $338,000 after acquiring an additional 2,338 shares in the last quarter. Institutional investors and hedge funds 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.