Retail Opportunity Investments (NASDAQ:ROIC) Rating Increased to Buy at Zacks Investment Research

Retail Opportunity Investments (NASDAQ:ROIC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The firm presently has a $20.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 8.46% from the stock’s current price.

According to Zacks, “Retail Opportunity Investments Corp. is a corporation that intends to qualify as a REIT for U.S. federal incoming tax purposes and that expects to invest in, acquire, own, lease, reposition and manage a diverse portfolio of necessity-based retail properties. This includes primarily, well located community and neighborhood shopping centers, anchored by national or regional supermarkets and drugstores. The company may also acquire other retail properties, including power centers, regional malls lifestyle centers and single-tenant retail locations that are leased to national, regional and local tenants. In addition, the Company may supplement its direct purchases of retail properties with first mortgages or second mortgages, mezzanine loans, bridge or other loans or debt investments related to retail properties, in each case provided that the underlying real estate meets the Company’s criteria for direct investment. “

Other research analysts have also issued research reports about the stock. Wells Fargo & Company raised their price target on shares of Retail Opportunity Investments from $16.00 to $17.00 and gave the company an “underweight” rating in a report on Thursday, August 26th. Citigroup upgraded shares of Retail Opportunity Investments from a “neutral” rating to a “buy” rating in a research note on Thursday, July 1st. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $17.75.

ROIC opened at $18.44 on Thursday. The company’s 50 day simple moving average is $17.70 and its 200 day simple moving average is $17.58. The company has a debt-to-equity ratio of 1.00, a quick ratio of 3.28 and a current ratio of 3.28. Retail Opportunity Investments has a 1 year low of $9.69 and a 1 year high of $18.86. The stock has a market capitalization of $2.19 billion, a PE ratio of 54.24, a P/E/G ratio of 4.86 and a beta of 1.53.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings results on Wednesday, July 28th. The real estate investment trust reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.08. Retail Opportunity Investments had a net margin of 13.89% and a return on equity of 3.03%. As a group, sell-side analysts expect that Retail Opportunity Investments will post 1 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Dark Forest Capital Management LP purchased a new stake in shares of Retail Opportunity Investments during the second quarter valued at approximately $28,000. Eaton Vance Management purchased a new stake in shares of Retail Opportunity Investments during the first quarter valued at approximately $26,000. William Blair Investment Management LLC bought a new stake in shares of Retail Opportunity Investments in the second quarter worth $31,000. Arkadios Wealth Advisors increased its stake in shares of Retail Opportunity Investments by 306.1% in the second quarter. Arkadios Wealth Advisors now owns 2,274 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 1,714 shares during the last quarter. Finally, Schroder Investment Management Group bought a new stake in shares of Retail Opportunity Investments in the first quarter worth $105,000. Institutional investors own 94.88% of the company’s stock.

About Retail Opportunity Investments

Retail Opportunity Investments Corp. operates as a self-managed real estate investment trust. The company engages in the ownership, management, and redevelopment of retail real estate properties. It specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely-populated, metropolitan markets across the West Coast.

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