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.
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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.
The put/call ratio of ROIC is 0.48, indicating a bullish outlook.
What are Other Shareholders Doing?
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.
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.