StockNews.com Begins Coverage on Retail Opportunity Investments (NASDAQ:ROIC)

Equities research analysts at StockNews.com began coverage on shares of Retail Opportunity Investments (NASDAQ:ROIC) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the real estate investment trust’s stock.

Retail Opportunity Investments Trading Up 0.1 %

Shares of NASDAQ:ROIC opened at $17.51 on Tuesday. The company has a market cap of $2.26 billion, a P/E ratio of 38.07 and a beta of 1.45. The stock’s 50-day moving average is $17.47 and its 200-day moving average is $16.84. Retail Opportunity Investments has a 52-week low of $11.87 and a 52-week high of $17.52. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92.

Institutional Investors Weigh In On Retail Opportunity Investments

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nexpoint Asset Management L.P. acquired a new stake in Retail Opportunity Investments during the fourth quarter worth about $50,490,000. Picton Mahoney Asset Management acquired a new stake in Retail Opportunity Investments during the fourth quarter worth about $27,343,000. Alpine Associates Management Inc. acquired a new stake in Retail Opportunity Investments during the fourth quarter worth about $23,436,000. Water Island Capital LLC acquired a new stake in Retail Opportunity Investments during the fourth quarter worth about $22,767,000. Finally, JPMorgan Chase & Co. grew its position in Retail Opportunity Investments by 58.7% during the fourth quarter. JPMorgan Chase & Co. now owns 3,235,094 shares of the real estate investment trust’s stock worth $56,161,000 after buying an additional 1,196,057 shares in the last quarter. 97.16% of the stock is owned by institutional investors and hedge funds.

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 December 31, 2023, ROIC owned 94 shopping centers encompassing approximately 10.6 million square feet.