368,056 Shares in Retail Opportunity Investments Corp. (NASDAQ:ROIC) Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC bought a new position in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 368,056 shares of the real estate investment trust’s stock, valued at approximately $6,389,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Retail Opportunity Investments by 296.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 952,252 shares of the real estate investment trust’s stock valued at $14,979,000 after purchasing an additional 711,835 shares during the period. Alberta Investment Management Corp purchased a new stake in shares of Retail Opportunity Investments during the fourth quarter valued at approximately $10,416,000. Strategy Asset Managers LLC raised its stake in shares of Retail Opportunity Investments by 57.7% during the third quarter. Strategy Asset Managers LLC now owns 876,179 shares of the real estate investment trust’s stock valued at $13,782,000 after purchasing an additional 320,520 shares during the period. Easterly Investment Partners LLC purchased a new stake in shares of Retail Opportunity Investments during the third quarter valued at approximately $4,556,000. Finally, Wolverine Asset Management LLC raised its stake in shares of Retail Opportunity Investments by 171.1% during the fourth quarter. Wolverine Asset Management LLC now owns 262,585 shares of the real estate investment trust’s stock valued at $4,558,000 after purchasing an additional 165,712 shares during the period. Institutional investors and hedge funds own 97.16% of the company’s stock.

Wall Street Analysts Forecast Growth

ROIC has been the topic of a number of analyst reports. Robert W. Baird reiterated a “neutral” rating and set a $17.50 price objective (up previously from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday, November 7th. BMO Capital Markets lifted their price objective on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research note on Friday, November 8th. KeyCorp lowered shares of Retail Opportunity Investments from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. StockNews.com assumed coverage on shares of Retail Opportunity Investments in a research note on Saturday, February 22nd. They issued a “hold” rating for the company. Finally, Baird R W lowered shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $16.20.

Retail Opportunity Investments Stock Up 0.1 %

Shares of NASDAQ:ROIC opened at $17.51 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04. The company has a fifty day simple moving average of $17.44 and a 200 day simple moving average of $16.62. The firm has a market cap of $2.26 billion, a PE ratio of 38.07 and a beta of 1.45. Retail Opportunity Investments Corp. has a 12-month low of $11.87 and a 12-month high of $17.52.

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.