Retail Opportunity Investments (NASDAQ:ROIC)‘s stock had its “neutral” rating reissued by analysts at JPMorgan Chase & Co. in a research note issued to investors on Friday. They presently have a $19.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $20.00. JPMorgan Chase & Co.’s target price would suggest a potential upside of 7.34% from the company’s current price.
Several other analysts also recently commented on the company. BidaskClub downgraded Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research note on Tuesday. Citigroup cut their target price on Retail Opportunity Investments from $20.00 to $18.50 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Jefferies Group reissued a “hold” rating and set a $18.00 target price on shares of Retail Opportunity Investments in a research note on Tuesday, February 27th. Capital One Financial reissued an “overweight” rating on shares of Retail Opportunity Investments in a research note on Monday, February 12th. Finally, Zacks Investment Research downgraded Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $21.19.
Retail Opportunity Investments (ROIC) traded up $0.10 on Friday, reaching $17.70. The company’s stock had a trading volume of 2,388,650 shares, compared to its average volume of 1,434,256. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 1.12. The stock has a market cap of $1,978.60, a P/E ratio of 50.57, a PEG ratio of 2.48 and a beta of 0.63. Retail Opportunity Investments has a 12-month low of $16.21 and a 12-month high of $22.06.
Hedge funds have recently modified their holdings of the company. FDx Advisors Inc. purchased a new position in shares of Retail Opportunity Investments during the 4th quarter worth approximately $221,000. Xact Kapitalforvaltning AB purchased a new position in Retail Opportunity Investments in the 4th quarter valued at approximately $227,000. Elkfork Partners LLC purchased a new position in Retail Opportunity Investments in the 4th quarter valued at approximately $254,000. Eaton Vance Management purchased a new position in Retail Opportunity Investments in the 4th quarter valued at approximately $267,000. Finally, Ramsey Quantitative Systems purchased a new position in Retail Opportunity Investments in the 4th quarter valued at approximately $269,000. 99.48% of the stock is owned by institutional investors and hedge funds.
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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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