Retail Opportunity Investments (NASDAQ:ROIC) Cut to Market Perform at Raymond James

Retail Opportunity Investments (NASDAQ:ROIC) was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday, Briefing.com reports.

A number of other analysts have also commented on the company. 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 target price for the company. Wells Fargo & Company increased their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Finally, StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Retail Opportunity Investments has a consensus rating of “Hold” and an average price target of $15.50.

Retail Opportunity Investments Stock Performance

Shares of ROIC stock opened at $15.51 on Wednesday. The firm has a 50 day moving average of $15.57 and a 200-day moving average of $13.87. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 33.72 and a beta of 1.45. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04. Retail Opportunity Investments has a 52 week low of $11.06 and a 52 week high of $16.27.

Retail Opportunity Investments (NASDAQ:ROIC) last issued 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 company had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. During the same period in the prior year, the company earned $0.27 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts forecast that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ROIC. Centersquare Investment Management LLC lifted its position in shares of Retail Opportunity Investments by 6.5% during the 1st quarter. Centersquare Investment Management LLC now owns 9,319,113 shares of the real estate investment trust’s stock worth $114,346,000 after buying an additional 571,370 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Retail Opportunity Investments by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust’s stock valued at $254,040,000 after purchasing an additional 160,068 shares during the last quarter. Lasalle Investment Management Securities LLC grew its position in Retail Opportunity Investments by 14.8% during the first quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust’s stock valued at $46,783,000 after buying an additional 469,905 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Retail Opportunity Investments by 12.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,181,551 shares of the real estate investment trust’s stock worth $40,787,000 after buying an additional 351,287 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Retail Opportunity Investments by 2.9% in the 2nd quarter. Federated Hermes Inc. now owns 4,557,646 shares of the real estate investment trust’s stock worth $56,652,000 after purchasing an additional 127,799 shares during the period. 97.16% of the stock is owned by institutional investors.

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.