Retail Opportunity Investments (NASDAQ:ROIC) Rating Increased to Buy at BidaskClub

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Retail Opportunity Investments (NASDAQ:ROIC) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, BidAskClub reports.

ROIC has been the topic of several other research reports. Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine raised shares of XCel Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $18.00.

Retail Opportunity Investments stock opened at $17.95 on Friday. Retail Opportunity Investments has a 12-month low of $15.44 and a 12-month high of $19.80. The stock has a market cap of $2.05 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 3.73 and a beta of 0.71. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.13 and a quick ratio of 2.13. The business’s fifty day moving average price is $17.21.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. Retail Opportunity Investments had a net margin of 15.22% and a return on equity of 3.46%. The firm had revenue of $76.05 million for the quarter, compared to the consensus estimate of $75.31 million. During the same quarter in the previous year, the firm posted $0.30 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts predict that Retail Opportunity Investments will post 1.14 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund increased its stake in Retail Opportunity Investments by 5.1% during the 4th quarter. Texas Permanent School Fund now owns 74,590 shares of the real estate investment trust’s stock worth $1,184,000 after buying an additional 3,632 shares during the period. Geode Capital Management LLC increased its stake in Retail Opportunity Investments by 9.5% during the 4th quarter. Geode Capital Management LLC now owns 1,602,715 shares of the real estate investment trust’s stock worth $25,451,000 after buying an additional 138,664 shares during the period. Thompson Siegel & Walmsley LLC increased its stake in Retail Opportunity Investments by 9.9% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 881,084 shares of the real estate investment trust’s stock worth $15,278,000 after buying an additional 79,247 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Retail Opportunity Investments by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 44,146 shares of the real estate investment trust’s stock worth $765,000 after purchasing an additional 797 shares during the last quarter. Finally, Cipher Capital LP bought a new stake in shares of Retail Opportunity Investments in the 4th quarter worth about $198,000. 92.00% of the stock is currently owned by hedge funds and other institutional investors.

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 March 31, 2019, ROIC owned 90 shopping centers encompassing approximately 10.3 million square feet.

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