Retail Opportunity Investments (NASDAQ:ROIC) Upgraded to “Overweight” at Capital One Financial

Capital One Financial upgraded shares of Retail Opportunity Investments (NASDAQ:ROIC) from an equal weight rating to an overweight rating in a research report report published on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has $21.00 target price on the real estate investment trust’s stock, up from their previous target price of $19.00.

A number of other research analysts have also weighed in on ROIC. DA Davidson reaffirmed a buy rating on shares of Retail Opportunity Investments in a research report on Monday, July 29th. ValuEngine raised Retail Opportunity Investments from a sell rating to a hold rating in a research report on Tuesday, July 9th. BidaskClub raised Retail Opportunity Investments from a buy rating to a strong-buy rating in a research report on Friday, October 4th. Zacks Investment Research raised Retail Opportunity Investments from a sell rating to a hold rating in a research report on Tuesday, October 15th. Finally, BMO Capital Markets set a $18.00 price objective on Retail Opportunity Investments and gave the company a hold rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $19.50.

Shares of NASDAQ:ROIC traded down $0.18 during trading on Wednesday, hitting $18.80. The stock had a trading volume of 538,200 shares, compared to its average volume of 914,831. Retail Opportunity Investments has a 12 month low of $15.44 and a 12 month high of $19.18. The company has a market capitalization of $2.17 billion, a PE ratio of 16.49, a PEG ratio of 3.86 and a beta of 0.70. The firm’s fifty day moving average is $18.30 and its 200 day moving average is $17.71. The company has a quick ratio of 4.36, a current ratio of 4.36 and a debt-to-equity ratio of 1.16.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.02). Retail Opportunity Investments had a net margin of 15.28% and a return on equity of 3.50%. The company had revenue of $72.93 million for the quarter, compared to the consensus estimate of $73.49 million. During the same period last year, the business earned $0.27 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts expect that Retail Opportunity Investments will post 1.13 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Centersquare Investment Management LLC boosted its stake in Retail Opportunity Investments by 118.5% during the 2nd quarter. Centersquare Investment Management LLC now owns 2,478,300 shares of the real estate investment trust’s stock valued at $42,453,000 after purchasing an additional 1,344,029 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Retail Opportunity Investments by 12.2% in the 2nd quarter. Jennison Associates LLC now owns 2,157,598 shares of the real estate investment trust’s stock worth $36,960,000 after buying an additional 235,011 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Retail Opportunity Investments by 2.8% in the 2nd quarter. Northern Trust Corp now owns 2,108,834 shares of the real estate investment trust’s stock worth $36,125,000 after buying an additional 56,820 shares during the last quarter. Capital Growth Management LP boosted its stake in shares of Retail Opportunity Investments by 125.7% in the 2nd quarter. Capital Growth Management LP now owns 2,065,000 shares of the real estate investment trust’s stock worth $35,373,000 after buying an additional 1,150,000 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Retail Opportunity Investments by 208.5% in the 2nd quarter. Morgan Stanley now owns 2,045,992 shares of the real estate investment trust’s stock worth $35,046,000 after buying an additional 1,382,694 shares during the last quarter. Institutional investors and hedge funds own 96.31% 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 March 31, 2019, ROIC owned 90 shopping centers encompassing approximately 10.3 million square feet.

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