Retail Opportunity Investments (ROIC) Downgraded by ValuEngine

Retail Opportunity Investments (NASDAQ:ROIC) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

A number of other brokerages have also recently commented on ROIC. BidaskClub raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Capital One Financial cut shares of Retail Opportunity Investments from an “overweight” rating to an “equal weight” rating in a research note on Thursday, July 26th. Zacks Investment Research raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Thursday, August 16th. BMO Capital Markets assumed coverage on shares of Retail Opportunity Investments in a research note on Tuesday, September 18th. They issued a “hold” rating and a $20.00 price objective for the company. Finally, JPMorgan Chase & Co. cut shares of Retail Opportunity Investments from a “neutral” rating to an “underweight” rating in a research note on Friday, June 15th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $19.69.

ROIC traded down $0.35 during trading on Monday, hitting $18.25. 1,234,600 shares of the company traded hands, compared to its average volume of 1,118,831. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 2.61 and a beta of 0.56. Retail Opportunity Investments has a 1 year low of $16.17 and a 1 year high of $20.14. The company has a debt-to-equity ratio of 1.17, a quick ratio of 3.74 and a current ratio of 3.74.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its earnings results on Wednesday, July 25th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.23). Retail Opportunity Investments had a net margin of 13.23% and a return on equity of 2.90%. The company had revenue of $72.34 million for the quarter, compared to analysts’ expectations of $73.23 million. During the same period in the previous year, the business posted $0.27 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. equities research analysts forecast that Retail Opportunity Investments will post 1.16 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in ROIC. BlackRock Inc. boosted its stake in shares of Retail Opportunity Investments by 9.9% during the 2nd quarter. BlackRock Inc. now owns 19,207,417 shares of the real estate investment trust’s stock worth $368,014,000 after purchasing an additional 1,735,231 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Retail Opportunity Investments by 131.4% during the 1st quarter. Wells Fargo & Company MN now owns 1,712,531 shares of the real estate investment trust’s stock worth $30,261,000 after purchasing an additional 972,575 shares during the period. Raymond James & Associates boosted its stake in shares of Retail Opportunity Investments by 75.6% during the 2nd quarter. Raymond James & Associates now owns 1,785,904 shares of the real estate investment trust’s stock worth $34,218,000 after purchasing an additional 768,810 shares during the period. First Foundation Advisors boosted its stake in shares of Retail Opportunity Investments by 31.0% during the 1st quarter. First Foundation Advisors now owns 2,509,767 shares of the real estate investment trust’s stock worth $44,347,000 after purchasing an additional 593,734 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Retail Opportunity Investments by 37.9% during the 2nd quarter. Jennison Associates LLC now owns 1,941,073 shares of the real estate investment trust’s stock worth $37,191,000 after purchasing an additional 533,286 shares during the period.

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 June 30, 2018, ROIC owned 92 shopping centers encompassing approximately 10.6 million square feet.

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