Retail Opportunity Investments Corp. (NASDAQ:ROIC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “Retail Opportunity Investments Corp. is a corporation that intends to qualify as a REIT for U.S. federal incoming tax purposes and that expects to invest in, acquire, own, lease, reposition and manage a diverse portfolio of necessity-based retail properties. This includes primarily, well located community and neighborhood shopping centers, anchored by national or regional supermarkets and drugstores. The company may also acquire other retail properties, including power centers, regional malls lifestyle centers and single-tenant retail locations that are leased to national, regional and local tenants. In addition, the Company may supplement its direct purchases of retail properties with first mortgages or second mortgages, mezzanine loans, bridge or other loans or debt investments related to retail properties, in each case provided that the underlying real estate meets the Company’s criteria for direct investment. “

A number of other equities research analysts also recently commented on ROIC. BidaskClub upgraded Retail Opportunity Investments Corp. from a “sell” rating to a “hold” rating in a research report on Sunday. Citigroup Inc. reiterated a “neutral” rating and issued a $19.00 target price (down from $21.00) on shares of Retail Opportunity Investments Corp. in a research report on Monday, July 10th. Jefferies Group LLC reiterated a “buy” rating and issued a $26.00 target price on shares of Retail Opportunity Investments Corp. in a research report on Wednesday, June 14th. TheStreet downgraded Retail Opportunity Investments Corp. from a “b” rating to a “c+” rating in a research report on Friday, April 28th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $26.00 target price on shares of Retail Opportunity Investments Corp. in a research report on Thursday, April 27th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Retail Opportunity Investments Corp. presently has an average rating of “Hold” and a consensus target price of $23.33.

Retail Opportunity Investments Corp. (ROIC) opened at 20.165 on Thursday. Retail Opportunity Investments Corp. has a 12 month low of $18.45 and a 12 month high of $23.05. The stock’s 50 day moving average price is $19.63 and its 200 day moving average price is $20.59.

Retail Opportunity Investments Corp. (NASDAQ:ROIC) last posted its earnings results on Wednesday, April 26th. The real estate investment trust reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $65.90 million for the quarter, compared to the consensus estimate of $62.86 million. Retail Opportunity Investments Corp. had a return on equity of 2.71% and a net margin of 14.13%. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.27 earnings per share. Analysts expect that Retail Opportunity Investments Corp. will post $0.37 EPS for the current year.

WARNING: “Retail Opportunity Investments Corp. (NASDAQ:ROIC) Rating Lowered to Hold at Zacks Investment Research” was published by American Banking News and is the sole property of of American Banking News. If you are reading this article on another publication, it was stolen and reposted in violation of United States & international copyright laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/07/20/retail-opportunity-investments-corp-nasdaqroic-rating-lowered-to-hold-at-zacks-investment-research.html.

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Retail Opportunity Investments Corp. by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,375,272 shares of the real estate investment trust’s stock valued at $29,059,000 after buying an additional 54,005 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Retail Opportunity Investments Corp. by 5.1% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 36,900 shares of the real estate investment trust’s stock valued at $780,000 after buying an additional 1,800 shares during the last quarter. Norges Bank bought a new stake in shares of Retail Opportunity Investments Corp. during the fourth quarter valued at $23,927,000. Manning & Napier Advisors LLC bought a new stake in shares of Retail Opportunity Investments Corp. during the first quarter valued at $3,200,000. Finally, Fenimore Asset Management Inc. boosted its stake in shares of Retail Opportunity Investments Corp. by 2.0% in the first quarter. Fenimore Asset Management Inc. now owns 234,450 shares of the real estate investment trust’s stock valued at $4,930,000 after buying an additional 4,550 shares during the last quarter. 96.28% of the stock is currently owned by institutional investors.

About Retail Opportunity Investments Corp.

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.

Get a free copy of the Zacks research report on Retail Opportunity Investments Corp. (ROIC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Receive News & Ratings for Retail Opportunity Investments Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Retail Opportunity Investments Corp. and related companies with MarketBeat.com's FREE daily email newsletter.