Raymond James Downgrades Retail Opportunity Investments (NASDAQ:ROIC) to Outperform

Retail Opportunity Investments (NASDAQ:ROIC) was downgraded by analysts at Raymond James from a “strong-buy” rating to an “outperform” rating in a note issued to investors on Tuesday, Marketbeat reports. They presently have a $19.00 price target on the real estate investment trust’s stock, down from their previous price target of $20.00. Raymond James’ price target suggests a potential upside of 13.10% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Zacks Investment Research raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Wednesday, December 18th. Capital One Financial raised Retail Opportunity Investments from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $19.00 to $21.00 in a report on Wednesday, October 23rd. Finally, BidaskClub cut Retail Opportunity Investments from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $19.33.

NASDAQ ROIC traded down $0.18 on Tuesday, reaching $16.80. The stock had a trading volume of 45,917 shares, compared to its average volume of 1,107,940. The business has a 50 day moving average price of $17.62 and a 200 day moving average price of $17.92. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.10. Retail Opportunity Investments has a 1 year low of $16.46 and a 1 year high of $19.18. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 4.72 and a beta of 0.66.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.12). Retail Opportunity Investments had a net margin of 16.59% and a return on equity of 3.81%. The firm had revenue of $72.44 million during the quarter, compared to analysts’ expectations of $73.90 million. During the same quarter last year, the firm earned $0.28 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, analysts anticipate that Retail Opportunity Investments will post 1.1 earnings per share for the current fiscal year.

In other Retail Opportunity Investments news, COO Richard K. Schoebel sold 54,325 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $86.51, for a total value of $4,699,655.75. Also, COO Richard K. Schoebel sold 6,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $18.08, for a total value of $108,480.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,600 shares of company stock worth $6,170,647. Corporate insiders own 2.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc lifted its stake in shares of Retail Opportunity Investments by 169.1% in the 3rd quarter. Versant Capital Management Inc now owns 1,499 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 942 shares during the period. Tower Research Capital LLC TRC raised its stake in Retail Opportunity Investments by 765.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,852 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 1,638 shares during the period. HM Payson & Co. acquired a new stake in Retail Opportunity Investments during the 2nd quarter worth $51,000. Point72 Asset Management L.P. raised its stake in Retail Opportunity Investments by 675.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 6,200 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 5,400 shares during the period. Finally, Bank of Montreal Can raised its stake in Retail Opportunity Investments by 167.8% during the 2nd quarter. Bank of Montreal Can now owns 15,028 shares of the real estate investment trust’s stock worth $257,000 after buying an additional 9,417 shares during the period. Hedge funds and other institutional investors own 91.53% of the company’s stock.

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.

See Also: What is the Nikkei 225 index?    

Receive News & Ratings for Retail Opportunity Investments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Retail Opportunity Investments and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit