Fintel reports that on May 24, 2023, Wells Fargo initiated coverage of Retail Opportunity Investments (NASDAQ:ROIC) with a Overweight recommendation.
Analyst Price Forecast Suggests 22.50% Upside
As of May 11, 2023, the average one-year price target for Retail Opportunity Investments is 15.30. The forecasts range from a low of 13.13 to a high of $17.85. The average price target represents an increase of 22.50% from its latest reported closing price of 12.49.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Retail Opportunity Investments is 324MM, an increase of 2.74%. The projected annual non-GAAP EPS is 0.33.
What is the Fund Sentiment?
There are 511 funds or institutions reporting positions in Retail Opportunity Investments. This is a decrease of 15 owner(s) or 2.85% in the last quarter. Average portfolio weight of all funds dedicated to ROIC is 0.16%, a decrease of 10.04%. Total shares owned by institutions increased in the last three months by 0.16% to 132,626K shares.
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ROIC / Retail Opportunity Investments Corp Put/Call Ratios
The put/call ratio of ROIC is 0.48, indicating a bullish outlook.
What are Other Shareholders Doing?
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ROIC / Retail Opportunity Investments Corp Shares Held by Institutions
IJR – iShares Core S&P Small-Cap ETF holds 8,509K shares representing 6.75% ownership of the company. No change in the last quarter.
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VGSIX – Vanguard Real Estate Index Fund Investor Shares holds 5,555K shares representing 4.41% ownership of the company. In it’s prior filing, the firm reported owning 5,633K shares, representing a decrease of 1.41%. The firm decreased its portfolio allocation in ROIC by 1.26% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,627K shares representing 2.88% ownership of the company. In it’s prior filing, the firm reported owning 3,575K shares, representing an increase of 1.44%. The firm increased its portfolio allocation in ROIC by 2.34% over the last quarter.
Federated Hermes holds 3,435K shares representing 2.73% ownership of the company. In it’s prior filing, the firm reported owning 2,418K shares, representing an increase of 29.62%. The firm decreased its portfolio allocation in ROIC by 34.06% over the last quarter.
Citadel Advisors holds 3,211K shares representing 2.55% ownership of the company. In it’s prior filing, the firm reported owning 3,070K shares, representing an increase of 4.40%. The firm decreased its portfolio allocation in ROIC by 20.62% over the last quarter.
Retail Opportunity Investments Background Information
(This description is provided by the company.)
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 September 30, 2020, ROIC owned 88 shopping centers encompassing approximately 10.1 million square feet. ROIC is the largest publicly-traded,grocery-anchored shopping center REIT focused exclusively on the West Coast. ROIC is a member of the S&P SmallCap 600 Index and has investment-grade corporate debt ratings from Moody’s Investor Services, Standard & Poor’s, and Fitch Ratings, Inc.
Key filings for this company:
This story originally appeared on Fintel.
