Retail Opportunity Investments (ROIC) Cut to Strong Sell at BidaskClub

Retail Opportunity Investments (NASDAQ:ROIC) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Tuesday.

ROIC has been the subject of a number of other reports. FBR & Co set a $23.00 price target on Retail Opportunity Investments and gave the stock a “hold” rating in a report on Wednesday, October 11th. Royal Bank of Canada reiterated a “buy” rating and set a $22.00 price target on shares of Retail Opportunity Investments in a report on Monday, October 30th. Citigroup cut their price target on Retail Opportunity Investments from $20.50 to $20.00 and set a “neutral” rating for the company in a report on Monday, October 30th. Zacks Investment Research upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Finally, KeyCorp reiterated a “neutral” rating on shares of Retail Opportunity Investments in a report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Retail Opportunity Investments currently has an average rating of “Hold” and a consensus price target of $22.00.

Retail Opportunity Investments (ROIC) opened at $18.34 on Tuesday. Retail Opportunity Investments has a 1-year low of $17.87 and a 1-year high of $22.37. The company has a market capitalization of $2,050.86, a P/E ratio of 53.94, a PEG ratio of 2.28 and a beta of 0.68. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.06.

Hedge funds and other institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System raised its stake in shares of Retail Opportunity Investments by 1.9% in the second quarter. California Public Employees Retirement System now owns 179,500 shares of the real estate investment trust’s stock valued at $3,445,000 after purchasing an additional 3,400 shares in the last quarter. AXA raised its stake in shares of Retail Opportunity Investments by 12.6% in the third quarter. AXA now owns 836,024 shares of the real estate investment trust’s stock valued at $15,893,000 after purchasing an additional 93,790 shares in the last quarter. Dupont Capital Management Corp raised its stake in shares of Retail Opportunity Investments by 18.5% in the third quarter. Dupont Capital Management Corp now owns 115,126 shares of the real estate investment trust’s stock valued at $2,189,000 after purchasing an additional 17,971 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Retail Opportunity Investments by 7.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,097,810 shares of the real estate investment trust’s stock valued at $20,870,000 after purchasing an additional 75,869 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Retail Opportunity Investments by 28.1% in the third quarter. Wells Fargo & Company MN now owns 624,633 shares of the real estate investment trust’s stock valued at $11,874,000 after purchasing an additional 137,034 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

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About Retail Opportunity Investments

Retail Opportunity Investments Corp. (ROIC) is a fully integrated, self-managed real estate investment trust (REIT). The Company specializes in the acquisition, ownership and management of necessity-based community and neighborhood shopping centers on the west coast of the United States, anchored by supermarkets and drugstores.

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