Retail Opportunity Investments Corp. (NASDAQ:ROIC) Receives $12.61 Average Price Target from Brokerages

Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) have been assigned an average rating of “Hold”…

Shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) have been assigned an average rating of “Hold” from the twelve research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $12.61.

A number of analysts recently issued reports on the company. Bank of America upgraded Retail Opportunity Investments from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $11.75 to $16.00 in a research note on Tuesday, January 19th. Wells Fargo & Company lowered Retail Opportunity Investments from an “equal weight” rating to an “underweight” rating and boosted their price objective for the company from $9.00 to $14.00 in a research note on Thursday, December 10th.

Institutional investors have recently bought and sold shares of the stock. Adelante Capital Management LLC grew its position in Retail Opportunity Investments by 4.1% during the third quarter. Adelante Capital Management LLC now owns 3,125,554 shares of the real estate investment trust’s stock worth $32,553,000 after buying an additional 123,726 shares in the last quarter. Strs Ohio boosted its holdings in shares of Retail Opportunity Investments by 0.5% in the 3rd quarter. Strs Ohio now owns 180,334 shares of the real estate investment trust’s stock worth $1,878,000 after purchasing an additional 861 shares in the last quarter. Truist Financial Corp boosted its holdings in shares of Retail Opportunity Investments by 11.6% in the 3rd quarter. Truist Financial Corp now owns 147,494 shares of the real estate investment trust’s stock worth $1,536,000 after purchasing an additional 15,277 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Retail Opportunity Investments by 10.3% in the 2nd quarter. Bank of America Corp DE now owns 334,982 shares of the real estate investment trust’s stock worth $3,795,000 after purchasing an additional 31,297 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Retail Opportunity Investments by 1.4% in the 3rd quarter. Swiss National Bank now owns 263,700 shares of the real estate investment trust’s stock worth $2,746,000 after purchasing an additional 3,700 shares in the last quarter. Institutional investors and hedge funds own 91.04% of the company’s stock.

Shares of ROIC traded down $0.22 during mid-day trading on Friday, hitting $14.39. The stock had a trading volume of 19,141 shares, compared to its average volume of 1,161,676. The company has a debt-to-equity ratio of 1.12, a current ratio of 4.05 and a quick ratio of 4.05. Retail Opportunity Investments has a 52 week low of $5.84 and a 52 week high of $17.30. The firm has a market cap of $1.70 billion, a P/E ratio of 50.38 and a beta of 1.47. The business has a fifty day moving average price of $13.74 and a 200-day moving average price of $11.96.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings data on Saturday, October 31st. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.17). Retail Opportunity Investments had a net margin of 11.68% and a return on equity of 2.61%. As a group, research analysts expect that Retail Opportunity Investments will post 1.03 earnings per share for the current fiscal year.

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 September 30, 2020, ROIC owned 88 shopping centers encompassing approximately 10.1 million square feet.

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Analyst Recommendations for Retail Opportunity Investments (NASDAQ:ROIC)

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