Retail Opportunity Investments Corp. (NASDAQ:ROIC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

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 brokerages have also issued reports on ROIC. Citigroup Inc. reissued a “neutral” rating and set a $21.00 target price (down from $22.00) on shares of Retail Opportunity Investments Corp. in a research note on Tuesday, June 6th. Jefferies Group LLC reissued a “buy” rating and set a $26.00 target price on shares of Retail Opportunity Investments Corp. in a research note on Wednesday, June 14th. TheStreet lowered shares of Retail Opportunity Investments Corp. from a “b” rating to a “c+” rating in a research note on Friday, April 28th. BidaskClub raised shares of Retail Opportunity Investments Corp. from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Finally, Canaccord Genuity reissued a “buy” rating and set a $26.00 target price on shares of Retail Opportunity Investments Corp. in a research note on Thursday, April 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Retail Opportunity Investments Corp. has a consensus rating of “Hold” and a consensus target price of $23.14.

Retail Opportunity Investments Corp. (ROIC) opened at 20.48 on Tuesday. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 63.41 and a beta of 0.69. Retail Opportunity Investments Corp. has a one year low of $18.45 and a one year high of $22.98.

Retail Opportunity Investments Corp. (NASDAQ:ROIC) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.01. The company had revenue of $66.64 million for the quarter, compared to analysts’ expectations of $66.18 million. Retail Opportunity Investments Corp. had a net margin of 13.92% and a return on equity of 2.71%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 earnings per share. Analysts anticipate that Retail Opportunity Investments Corp. will post $0.37 EPS for the current year.

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Institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Retail Opportunity Investments Corp. by 8,069.6% in the first quarter. BlackRock Inc. now owns 16,967,429 shares of the real estate investment trust’s stock worth $356,825,000 after buying an additional 16,759,738 shares in the last quarter. RidgeWorth Capital Management LLC purchased a new position in shares of Retail Opportunity Investments Corp. during the first quarter worth approximately $67,315,000. Deprince Race & Zollo Inc. purchased a new position in shares of Retail Opportunity Investments Corp. during the second quarter worth approximately $32,598,000. Russell Investments Group Ltd. increased its position in shares of Retail Opportunity Investments Corp. by 206.0% in the second quarter. Russell Investments Group Ltd. now owns 1,023,235 shares of the real estate investment trust’s stock worth $19,635,000 after buying an additional 688,874 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Retail Opportunity Investments Corp. by 111.7% in the first quarter. Schroder Investment Management Group now owns 1,100,622 shares of the real estate investment trust’s stock worth $22,948,000 after buying an additional 580,821 shares in the last quarter. Institutional investors and hedge funds own 96.55% of the company’s stock.

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.

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

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