BMO Capital Markets Boosts Retail Opportunity Investments (NASDAQ:ROIC) Price Target to $17.50

Retail Opportunity Investments (NASDAQ:ROIC) had its price objective raised by BMO Capital Markets from $17.00 to $17.50 in a report issued on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the real estate investment trust’s stock. BMO Capital Markets’ target price would suggest a potential upside of 0.92% from the company’s previous close.

A number of other research analysts also recently commented on the stock. StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. Baird R W downgraded Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Wells Fargo & Company boosted their price objective 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 on the stock. Finally, Raymond James downgraded Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $16.17.

Retail Opportunity Investments Stock Up 0.1 %

Shares of Retail Opportunity Investments stock traded up $0.02 during trading hours on Friday, hitting $17.34. 3,172,321 shares of the company’s stock traded hands, compared to its average volume of 1,287,874. 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 twelve month low of $11.80 and a twelve month high of $17.40. The stock has a 50 day simple moving average of $15.71 and a 200-day simple moving average of $14.07. The company has a market cap of $2.23 billion, a PE ratio of 37.70 and a beta of 1.44.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings data 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 business had revenue of $83.50 million for the quarter, compared to analyst estimates of $82.13 million. During the same quarter last year, the business earned $0.27 EPS. Retail Opportunity Investments’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Retail Opportunity Investments

Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in shares of Retail Opportunity Investments by 20.4% during the second quarter. Principal Financial Group Inc. now owns 6,031,790 shares of the real estate investment trust’s stock valued at $74,975,000 after acquiring an additional 1,020,314 shares during the period. Centersquare Investment Management LLC boosted its stake in 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 valued at $114,346,000 after purchasing an additional 571,370 shares during the period. Lasalle Investment Management Securities LLC grew its position in Retail Opportunity Investments by 14.8% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 3,649,182 shares of the real estate investment trust’s stock worth $46,783,000 after purchasing an additional 469,905 shares during the last quarter. Easterly Investment Partners LLC acquired a new stake in shares of Retail Opportunity Investments in the third quarter valued at approximately $4,556,000. Finally, Vanguard Group Inc. raised its holdings in shares of Retail Opportunity Investments by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,815,894 shares of the real estate investment trust’s stock valued at $254,040,000 after buying an additional 160,068 shares during the last quarter. 97.16% of the stock is owned by institutional investors and hedge funds.

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.