에 대한 최신 뉴스 Retail Opportunity (NASDAQ:ROIC) 주식

Retail Opportunity

Retail Opportunity Investments Corp is a self-managed real estate investment trust. 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. The Company's primary business is the ownership, management, and redevelopment of retail real estate properties.

AAUKF

APTV

ATSG

streetTRACKS Dow Jones U.S. Large Cap Value Index Fund

FFIV

KRON

MEIP

NISTF

PARA

PARIS:SGO

ROIC

SAVE

SHEL

SLGWF

SLNG

TRIP

TSX:SGO

ULCC

새로 등장한 블록 에볼런트 헬스(NYSE:EVH)가 매물로 나온 것으로 알려졌다. 버지니아 주 알링턴에 본사를 둔 이 소프트웨어 회사는 인수 문의를 받은 후 경매 프로세스를 시작했다. 잠재적인 구혼자 중에는 TPG(NASDAQ:TPG), 클레이톤, 듀블리에 &amp; 라이스(Clayton, Dubilier &amp; Rice), KKR &amp; 컴퍼니(NYSE:KKR)가 있다. 로이터는 건강 보험사 엘레반스 헬스(NYSE:ELV)가 한 사모 펀드 파트너와 협력하여 거래를 추진할 수 있다고 보고했다.

딜 디스패치: 쉘, 유니레버 외에도 매각 뉴스; 어니언이 알렉스 존스의 인포워스 인수 등

News

Asset Sales

CSE:SLNG

DBRG

INRE

파산 블록 미국의 교도소 의료 서비스 제공업체인 웰패스 홀딩스(Wellpath Holdings Inc.)는 파산 신청을 준비 중이다. H.I.G. 캐피털 소유 테네시주 내슈빌에 본사를 둔 이 회사는 부채와 인건비 문제로 어려움을 겪고 있다. 대출 기관들과의 유예 계약을 포함한 노력에도 불구하고 재정적 부담은 지속되었다.

딜 디스패치: 선거 이후 교도소 회사들에 초점, 트립어드바이저는 11억 달러 현금 보유 등

Retail Opportunity Investments Corp. - Common Stock

Retail Opportunity Investments Corp

<h3 class="wp-block-heading">New On The Block</h3>
Evolent Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVH#NYSE">EVH</a>) is <a href="https://www.benzinga.com/m-a/24/08/40529349/evolent-health-explores-sale-garners-inbound-interest-from-private-equity-firms">reportedly up for sale</a>. The Arlington, Virginia-based software provide initiated an auction process after receiving takeover inquiries. Among the potential suitors are TPG Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>), Clayton, Dubilier &amp; Rice, and KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>). Reuters reported that health insurer Elevance Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>) may join forces with a private equity partner to pursue a deal.
Kronos Bio Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRON#NASDAQ">KRON</a>), a company focused on developing therapies for cancer, is exploring &#8220;strategic alternatives,&#8221; including an acquisition or merger.The San Mateo, Califonia-based company reported $124.9 million in cash reserves as of Sept. 30. 
Saint-Gobain (PARIS:<a class="ticker" href="https://www.benzinga.com/stock/SGO#PARIS">SGO</a>) is considering a sale of its auto glass unit, which could fetch up to 2.5 billion euro ($2.6 billion), per <a href="https://www.bloomberg.com/news/articles/2024-11-13/st-gobain-is-said-to-weigh-2-5-billion-sale-of-auto-glass-unit">Bloomberg</a>. The company is reportedly considering this strategic move as part of its broader business evaluation. This sale aligns with Saint-Gobain&#8217;s efforts to streamline its operations and focus on core business areas.
Shell (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) is seeking to <a href="https://www.bloomberg.com/news/articles/2024-11-13/shell-aims-to-sell-majority-stake-in-carbon-offsets-business?srnd=phx-deals">jettison</a> a majority of its carbon offsets portfolio. The company first launched the portfolio of offsets, which covers dozens of projects, <a href="https://www.bloomberg.com/news/features/2023-08-31/shell-silently-abandoned-its-100-million-a-year-plan-to-offset-co2-emissions" target="_blank" rel="noreferrer noopener">in 2018</a>. 
Unilever (LSE: ULVR) is exploring the sale of some Dutch food brands, including Unox soups and Conimex seasonings. According to Reuters, the company will instead focus on its biggest &#8220;power&#8221; labels.
See Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42024210/benzinga-bulls-and-bears-tesla-disney-gold-and-hedge-funds-project-bitcoin-to-hit-100k-150k">Benzinga Bulls And Bears: Tesla, Disney, Gold — And Hedge Funds Project Bitcoin To Hit $100K-$150K</a>
<h3 class="wp-block-heading">Bankruptcy Block</h3>
Alex Jones&#8217;s media company, Infowars, is now the property of satirical publication The Onion. The publication&#8217;s backers were none other than the families <a href="https://www.benzinga.com/media/24/11/41982446/jokes-on-jones-onion-backed-by-families-of-sandy-hook-victims-buys-info-wars">of Sandy Hook victims</a>. Observers praised the deal as poetic justice, considering Jones owes over $1 billion in defamation judgments against those families. Jones, who <a href="https://www.benzinga.com/news/23/12/36168941/elon-musks-controversial-move-alex-jones-returns-to-x-after-user-vote">has garnered sympathy from</a> right-wing personalities like Elon Musk and Tucker Carlson, confirmed the acquisition in a visibly distressed social media video, blaming &#8220;Democrats.&#8221;
Diamond Sports Group&#8216;s restructuring will include reducing its debt from nearly $9 billion to $200 million, <a href="https://www.espn.com/mlb/story/_/id/42388454/diamond-sports-group-emerges-bankruptcy">ESPN</a> reports. The restructuring plan received what Diamond categorized as &#8220;nearly unanimous support&#8221; from debt holders. Diamond, currently possessing $100 million in liquidity, will emerge from bankruptcy and operate as a stand-alone entity. Sinclair, the parent company, took on $8 billion in debt to buy regional channels from Fox for $10.6 billion in 2019. That debt contributed to Diamond&#8217;s bankruptcy.
<h3 class="wp-block-heading">Updates From The Block</h3>
Currently, there are no concrete indications that Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) is actively pursuing a sale. Recent speculation regarding Humana being acquired by Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) was definitively addressed, with Cigna explicitly stating that it is <a href="https://www.benzinga.com/general/health-care/24/11/41877573/cigna-not-pursuing-humana-merger-stock-soars">not pursuing a merger</a> with Humana at this time. This clarification came after rumors reignited post-election, driven by the potential for more lenient antitrust reviews under the new <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41979935/golden-years-for-ma-deals-ahead-under-trump-analysts-highlight-top-10-large-cap-candidates">Republican administration and Congress</a>.
Spirit Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) is no longer in deal talks with Frontier Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULCC#NASDAQ">ULCC</a>). It&#8217;s now in advanced discussions with bondholders to finalize a bankruptcy plan. The carrier continues to struggle with mounting losses and looming debt maturities. A bankruptcy filing is expected to happen within weeks, according to <a href="https://www.benzinga.com/news/earnings/24/11/41932146/spirit-airlines-nears-bankruptcy-creditors-may-approve-equity-cancellation-heres-what-it-means-for-investors-as-shares-fall-with-a-thud">the Wall Street Journal</a>.
MEI Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) continues to explore M&amp;A opportunities, hiring Oppenheimer &amp; Co., Inc. as an exclusive financial advisor to assist the process. During the first quarter of fiscal year 2025, the company commenced cash preservation efforts that include a reduction-in-force, which will continue in stages as the Company's operational and strategic direction evolves.
<h3 class="wp-block-heading">Notes From The Block</h3>
Wall Street anticipates a surge in M&amp;A as Republicans take control of Congress and deregulate. Analysts expect Federal Trade Commission Chair Lina Khan's removal, which could ease antitrust scrutiny. Bank of America highlights that Republican administrations, like President-elect Donald Trump&#8216;s, historically foster over 50% more financial sector M&amp;A activity compared to Democratic ones. 
Bank of America also predicts that 2025 could mark a better year for M&amp;A as rate cuts take effect and economic conditions stabilize. Here&#8217;s a list of five potential targets the bank compiled. For the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41979935/golden-years-for-ma-deals-ahead-under-trump-analysts-highlight-top-10-large-cap-candidates">full list, click here</a>.
<figure class="wp-block-table"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>Sector</th>
<th>Market Cap ($M)</th>
<th>Free Cash Flows-to-Enterprise Value (%)</th>
<th>Long-Term Growth Expectations (%)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Universal Health Services Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHS#NYSE">UHS</a>)</td>
<td>Health Care</td>
<td>13,932</td>
<td>4.4</td>
<td>25.3</td>
</tr>
<tr>
<td>Ralph LaurenCorp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RL#NYSE">RL</a>)</td>
<td>Consumer Disc.</td>
<td>12,473</td>
<td>5.99</td>
<td>10.5</td>
</tr>
<tr>
<td>Paramount Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NYSE">PARA</a>)</td>
<td>Comm. Services</td>
<td>7,250</td>
<td>3.4</td>
<td>46.4</td>
</tr>
<tr>
<td>Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>)</td>
<td>Technology</td>
<td>14,480</td>
<td>6.39</td>
<td>12.7</td>
</tr>
<tr>
<td>Hasbro Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>)</td>
<td>Consumer Disc.</td>
<td>9,215</td>
<td>3.6</td>
<td>27.5</td>
</tr>
</tbody>
</table>
</figure>
For last week&#8217;s Deal Dispatch, <a href="https://www.benzinga.com/news/asset-sales/24/11/41866114/deal-dispatch-prison-companies-in-focus-post-election-tripadvisor-boasts-11b-in-cash">click here</a>.
Now Read: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/41699259/nvidia-rides-ai-wave-to-replace-intel-on-dow-jones-industrial-average-ending-its-25-year-run">Nvidia Rides AI Wave To Replace Intel On Dow Jones Industrial Average, Ending Its 25-Year Run</a></li>
</ul>

Deal Dispatch: Shell, Unilever And More Are On The Sell Side; The Onion Makes Alex Jones Cry Foul

<h3 class="wp-block-heading">Bankruptcy Block</h3>
Wellpath Holdings Inc., a major provider of healthcare services to jails across the U.S., is preparing <a href="https://www.benzinga.com/topic/bankruptcy">to file for bankruptcy</a>. 
Owned by H.I.G. Capital, the Nashville, Tenn.-based company has struggled with debt and labor costs. Despite efforts, including a forbearance agreement with lenders, financial strains have persisted. 
This move comes as prison stocks Geo Group (NYES: GEO) and CoreCivic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXW#NYSE">CXW</a>) moved positively to the news that Donald Trump won <a href="https://www.benzinga.com/general/politics/24/11/41779902/prison-stocks-geo-group-corecivic-rally-on-trump-2024-election-win-history-shows-the-gains-may-n">the 2024 presidential election</a>.
Meanwhile, Toronto-based Slang Worldwide Inc. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/SLNG#CSE">SLNG</a>) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/SLGWF#OTCQB">SLGWF</a>) is entering receivership in Colorado and declared bankruptcy in Canada. Unable to repay amounts owed under its credit agreement, which matures on Nov. 15, 2024, Slang will likely dispose of or sell its assets <a href="https://www.benzinga.com/markets/cannabis/24/11/41778383/another-one-bites-the-dust-slang-worldwide-files-for-bankruptcy-due-to-inability-to-pay-debt">through a receivership process</a>.
<h3 class="wp-block-heading">New On The Block</h3>
Tripadvisor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRIP#NASDAQ">TRIP</a>) is currently exploring &#8220;strategic alternatives,&#8221; which is corporate jargon for a sale. According <a href="https://uk.finance.yahoo.com/news/q3-2024-tripadvisor-inc-earnings-133036809.html">to </a>CFO Mike Noonan, the company ended Q3 with $1.1 billion in cash. Should a firm make an offer, it would have to woo Liberty Media, which owns about 21% of Tripadvisor common stock — an approximate 57% voting interest.
KKR &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) wants to sell its stake in JB Chemicals &amp; Pharmaceuticals Ltd. via a block trade in the market, <a href="https://www.bloomberg.com/news/articles/2024-11-06/kkr-is-said-to-consider-selling-750-million-stake-in-jb-pharma">per</a> Bloomberg. The private equity firm is working with an investment bank as it considers selling about $750 million worth of stock in the Indian-listed company. The size of the deal could jump to $1 billion depending on demand.
See Also: <a href="https://www.benzinga.com/news/24/11/41698607/kamala-harris-ready-if-trump-decides-to-falsely-declare-victory-we-are-prepared-to-respond">Harris &#8216;Ready&#8217; If Trump Decides To &#8216;Falsely&#8217; Declare Victory: &#8216;We Are Prepared To Respond&#8217;</a>
<h3 class="wp-block-heading">Off The Block</h3>
Anglo American (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AAUKF#OTC">AAUKF</a>) has agreed to sell its 33.3% stake in the Jellinbah Group to Zashvin for $1.1 billion. Per the plan laid out <a href="https://www.benzinga.com/news/large-cap/24/05/38826363/anglo-american-expedites-plan-to-divest-de-beers-other-assets-after-rebuffing-bhp-takeover-bid" target="_blank" rel="noreferrer noopener">earlier this year</a>, the company is focusing on <a href="https://www.benzinga.com/topic/copper" target="_blank" rel="noreferrer noopener">copper</a>, iron ore, and crop nutrients. The joint venture holds a 70% interest in two major metallurgical coal mines in Queensland: Jellinbah East and Lake Vermont. Anglo did not operate these mines <a href="https://www.benzinga.com/news/large-cap/24/11/41739206/anglo-american-offloads-1-1-billion-coal-stake-proceeds-with-restructuring">nor market their output</a>.
Blackstone agreed to buy Retail Opportunity Investments Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIC#NASDAQ">ROIC</a>), a U.S. shopping mall owner. The Stephen A. Schwarzman-run private equity firm valued the real estate investment trust at <a href="https://www.benzinga.com/markets/24/11/41803407/is-blackstone-finalizing-a-deal-to-acquire-one-of-americas-largest-retail-reits">around $4 billion, including debt</a>.
Air Transport Services Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATSG#NASDAQ">ATSG</a>) is going private. Investment firm Stonepeak is acquiring the aircraft lessor for $3.1 billion, including debt.
<h3 class="wp-block-heading">Updates From The Block</h3>
Nippon Steel Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NISTF#OTC">NISTF</a>) remains optimistic about finalizing its $14.1 billion acquisition of United States Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) by the end of the year. The Japanese company is navigating opposition from unions and the Biden administration, while also facing potential hurdles from the recent election of Donald Trump, who <a href="https://www.benzinga.com/m-a/24/11/41806893/nippon-steel-remains-confident-in-14b-us-steel-deal-despite-trumps-resistance-there-can-be-construct">plans to block the deal</a>.
Brookfield launched a sale process for Aveo, a Sydney-based retirement home operator, in June. The Australian reports that the $3-billion company will likely not get sold until 2025. 
<h3 class="wp-block-heading">Notes From The Block</h3>
Jim Cramer expressed optimism about a resurgence in M&amp;A with <a href="https://www.benzinga.com/24/11/41857971/trumps-win-sends-wall-street-to-record-highs-small-caps-tesla-outperform-fed-cuts-interest-rates-this-week-in-the-market">the incoming Trump administration</a>. Cramer predicts a more lenient approach to M&amp;A approvals compared to the previous administration, which was known for its stringent antitrust scrutiny. The &#8220;Mad Money&#8221; host also highlighted that the regional banking sector could significantly benefit from increased M&amp;A activity, allowing banks to grow by acquiring smaller entities or merging to <a href="https://www.benzinga.com/m-a/24/11/41805370/jim-cramer-hopes-m-a-to-come-back-bigly-under-trump-administration">form larger "super regionals.&#8221;</a>
For last week&#8217;s column, <a href="https://www.benzinga.com/m-a/24/11/41700829/deal-dispatch-tgi-fridays-goes-bankrupt-bhp-backtracks-comments-and-more-m-a-news">click here.</a>
Now Read: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/41699259/nvidia-rides-ai-wave-to-replace-intel-on-dow-jones-industrial-average-ending-its-25-year-run">Nvidia Rides AI Wave To Replace Intel On Dow Jones Industrial Average, Ending Its 25-Year Run</a></li>
</ul>

Deal Dispatch: Prison Companies In Focus Post-Election, Tripadvisor Boasts $11B In Cash

BMO Capital analyst Juan Sanabria maintains Retail Opportunity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIC#NASDAQ">ROIC</a>) with a Market Perform and raises the price target from $17 to $17.5.

Price Target

Analyst Ratings

BMO Capital Maintains Market Perform on Retail Opportunity, Raises Price Target to $17.5

Baird analyst Wesley Golladay downgrades Retail Opportunity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIC#NASDAQ">ROIC</a>) from Outperform to Neutral and raises the price target from $16 to $17.5.

Downgrades

Baird Downgrades Retail Opportunity to Neutral, Raises Price Target to $17.5

Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) shares are <a target="_blank" href="https://www.benzinga.com/markets" rel="noreferrer noopener">trading higher on Wednesday.</a>
In fact, several banking and private equity shares traded higher after Donald Trump <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41778433/s-p-500-dow-hit-record-highs-after-trump-win-fear-index-drops-20" target="_blank" rel="noreferrer noopener">won the U.S. presidential election</a>.
Meanwhile, Blackstone Real Estate Partners X has agreed to acquire all outstanding shares of Retail Opportunity Investments Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIC#NASDAQ">ROIC</a>) <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b41780739/blackstone-real-estate-to-take-retail-opportunity-investments-private-for-4-billion" rel="noreferrer noopener">for $17.50 per share</a>.
The all-cash deal is valued at approximately $4 billion, including Retail Opportunity Investments&#8217; outstanding debt.
The purchase price represents a premium of 34% to Retail Opportunity Investments&#8217; closing share price on July 29, the last trading day prior to news reports of a potential sale.
&#8220;We are pleased to be acquiring ROIC, which owns a unique collection of high-quality assets in some of the most desirable West Coast markets,&#8221; said Jacob Werner, Co-Head of Americas Acquisitions at Blackstone Real Estate.
The transaction is expected to close in the first quarter of 2025, subject to customary closing conditions.
Also Read: <a target="_blank" href="https://www.benzinga.com/trading-ideas/technicals/24/11/41781115/stock-of-the-day-trump-media-technology-hits-resistance-reverses-and-trends-lower" rel="noreferrer noopener">Stock Of The Day: Trump Media &amp; Technology Hits Resistance, Reverses And Trends Lower</a>
Retail Opportunity Investments&#8217; portfolio comprises 93 grocery-anchored retail properties totaling 10.5 million square feet concentrated in Los Angeles, Seattle, San Francisco and Portland.
&#8220;The sector is experiencing accelerating fundamentals, benefiting from nearly a decade of virtually no new construction, while demand for brick-and-mortar grocery stores, restaurants, fitness and other lifestyle retailers remains healthy,&#8221; Werner added.
&#8220;We are confident that Blackstone will position ROIC&#8217;s portfolio for continued growth and success,&#8221; said Stuart A. Tanz, President and Chief Executive Officer of Retail Opportunity Investments.
Price Action: ROIC shares traded higher by 4.28% to $17.30 at last check Wednesday, while BX shares traded higher by 4.03% to $176.46.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/etfs/sector-etfs/24/11/41779731/trump-victory-sends-bank-stocks-higher-leading-s-p-500-on-regulatory-hopes" target="_blank" rel="noreferrer noopener">Trump Victory Sends Bank Stocks Higher, Leading S&amp;P 500 On Regulatory Hopes</a></li>
</ul>

Equities

Markets

Movers

General

What's Going On With Blackstone Stock Today?

Trading Halt: Halt status updated at 12:30:00 PM ET: Quotation Resumption: News and Resumption Times

<a href="https://www.reuters.com/world/us/global-reaction-us-presidential-election-2024-11-06/" title="https://www.reuters.com/world/us/global-reaction-us-presidential-election-2024-11-06/">https://www.reuters.com/world/us/global-reaction-us-presidential-election-2024-11-06/</a>

Blackstone To Acquire Retail Opportunity Investments Corp. In $4B All-Cash Deal, Offering $17.50 Per Share For ROIC's 93 Grocery-Anchored Retail Properties Across Key West Coast Markets, Representing A 34% Premium

Trading Halt: Halted at 12:00:00 p.m. ET - Trading Halt: Halt News Pending

Keybanc analyst Todd Thomas downgrades Retail Opportunity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIC#NASDAQ">ROIC</a>) from Overweight to Sector Weight.

Keybanc Downgrades Retail Opportunity to Sector Weight

WIIM

Retail Opportunity shares are trading higher amid a Reuters report that Blackstone is in advanced talks to acquire the company.

Reuters Reported Blackstone Advanced Talks To Acquire Retail Opportunity Investments Corp

Raymond James analyst RJ Milligan downgrades Retail Opportunity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIC#NASDAQ">ROIC</a>) from Outperform to Market Perform.

Raymond James Downgrades Retail Opportunity to Market Perform

Retail Opportunity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIC#NASDAQ">ROIC</a>) lowers FY2024 FFO guidance from $1.04-1.07 to $1.03-1.05 vs $1.05 analyst estimate..

Guidance

Retail Opportunity Lowers FY2024 FFO Guidance from $1.04-1.07 to $1.03-1.05 vs $1.05 Est.

Retail Opportunity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIC#NASDAQ">ROIC</a>) reported quarterly earnings of $0.25 per share which missed the analyst consensus estimate of $0.26 by 3.85 percent. This is a 7.41 percent decrease over earnings of $0.27 per share from the same period last year. The company reported quarterly sales of $83.484 million which beat the analyst consensus estimate of $82.347 million by 1.38 percent. This is a 2.13 percent increase over sales of $81.745 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Retail Opportunity Q3 2024 FFO $0.25 Misses $0.26 Estimate, Sales $83.484M Beat $82.347M Estimate

Retail Opportunity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIC#NASDAQ">ROIC</a>) is gearing up to announce its quarterly earnings on Tuesday, 2024-10-22. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Retail Opportunity will report an earnings per share (EPS) of $0.26.
The announcement from Retail Opportunity is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Earnings History Snapshot</h3>
In the previous earnings release, the company missed EPS by $0.01, leading to a 4.45% drop in the share price the following trading session.
Here's a look at Retail Opportunity's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.26</td>
<td>0.26</td>
<td></td>
<td></td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.25</td>
<td>0.28</td>
<td>0.27</td>
<td>0.27</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-4.0%</td>
<td>-1.0%</td>
<td>-1.0%</td>
<td>-4.0%</td>
</tr>
</tbody>
</table>

<h3>Tracking Retail Opportunity's Stock Performance</h3>
Shares of Retail Opportunity were trading at $16.16 as of October 18. Over the last 52-week period, shares are up 33.93%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analysts' Take on Retail Opportunity</h3>
For investors, grasping market sentiments and expectations in the industry is vital. This analysis explores the latest insights regarding Retail Opportunity.
A total of 2 analyst ratings have been received for Retail Opportunity, with the consensus rating being Neutral. The average one-year price target stands at $16.0, suggesting a potential 0.99% downside.
<h3>Peer Ratings Overview</h3>
In this comparison, we explore the analyst ratings and average 1-year price targets of Getty Realty, InvenTrust Properties and Acadia Realty Trust, three prominent industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>The prevailing sentiment among analysts is an Buy trajectory for Getty Realty, with an average 1-year price target of $33.33, implying a potential 106.25% upside.</li>
<li>InvenTrust Properties is maintaining an Buy status according to analysts, with an average 1-year price target of $31.33, indicating a potential 93.87% upside.</li>
<li>The consensus outlook from analysts is an Neutral trajectory for Acadia Realty Trust, with an average 1-year price target of $24.33, indicating a potential 50.56% upside.</li>
</ul>
<h3>Key Findings: Peer Analysis Summary</h3>
In the peer analysis summary, key metrics for Getty Realty, InvenTrust Properties and Acadia Realty Trust are highlighted, providing an understanding of their respective standings within the industry and offering insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Retail Opportunity</td>
<td>Neutral</td>
<td>1.56%</td>
<td>$60.36M</td>
<td>0.57%</td>
</tr>
<tr>
<td>Getty Realty</td>
<td>Buy</td>
<td>11.72%</td>
<td>$45.95M</td>
<td>1.69%</td>
</tr>
<tr>
<td>InvenTrust Properties</td>
<td>Buy</td>
<td>4.23%</td>
<td>$48.13M</td>
<td>0.10%</td>
</tr>
<tr>
<td>Acadia Realty Trust</td>
<td>Neutral</td>
<td>-3.00%</td>
<td>$61.49M</td>
<td>0.07%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Retail Opportunity is positioned in the middle among its peers for revenue growth, with one company showing negative growth. In terms of gross profit, Retail Opportunity ranks at the top. However, its return on equity is at the bottom compared to the other companies analyzed.
<h3>Discovering Retail Opportunity: A Closer Look</h3>
Retail Opportunity Investments Corp is a self-managed real estate investment trust. 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. The Company's primary business is the ownership, management, and redevelopment of retail real estate properties.
<h3>Retail Opportunity: A Financial Overview</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Retail Opportunity's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 1.56% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Real Estate sector.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 8.69%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): Retail Opportunity's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 0.57%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Retail Opportunity's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 0.24%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: Retail Opportunity's debt-to-equity ratio is below the industry average. With a ratio of 1.24, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<a href="https://www.benzinga.com/quote/ROIC/earnings">To track all earnings releases for Retail Opportunity visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

An Overview of Retail Opportunity's Earnings

Wells Fargo analyst Dori Kesten maintains Retail Opportunity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIC#NASDAQ">ROIC</a>) with a Equal-Weight and raises the price target from $13.5 to $16.

Wells Fargo Maintains Equal-Weight on Retail Opportunity, Raises Price Target to $16

Raymond James analyst RJ Milligan maintains Retail Opportunity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIC#NASDAQ">ROIC</a>) with a Outperform and raises the price target from $15 to $16.

Raymond James Maintains Outperform on Retail Opportunity, Raises Price Target to $16

Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) shares are trading higher premarket today. The company is reportedly in early talks to acquire Retail Opportunity Investments Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIC#NASDAQ">ROIC</a>).
The buyout firm&#8217;s approach suggests it sees value in ROIC&#8217;s properties, which primarily include supermarkets and drugstores, reported Reuters.
Blackstone&#8217;s interest follows a 10% drop in ROIC&#8217;s shares over the past year, lagging behind other real estate investment trusts (REITs).
As per the report, no deal is guaranteed, and another bidder for ROIC could still emerge.
Based in San Diego, California, ROIC owned 95 shopping centers totaling approximately 10.7 million square feet (994,000 square meters) as of June. Last week, ROIC reported FFO for the&nbsp;second quarter&nbsp;of 2024 of $34.1 million, or&nbsp;$0.25&nbsp;per share, as compared to&nbsp;$35.6 million&nbsp;in FFO, or&nbsp;$0.27&nbsp;per share <a target="_blank" href="https://www.benzinga.com//node/39917647" rel="noreferrer noopener">for the&nbsp;second quarter&nbsp;of 2023.&nbsp;</a>
Yesterday, Blackstone Real Estate and MRP Group extended their all-cash tender offer of Ps. 40.50 per certificate for up to 100% of Terrafina&#8217;s <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b40054255/blackstone-real-estate-and-mrp-group-announce-extension-of-100-cash-tender-offer-for-terrafina" rel="noreferrer noopener">outstanding real estate trust certificates</a>.
The all-cash tender offer includes a 27% premium over Terrafina&#8217;s unaffected price on December 4, 2023, and a more than 10% premium over its closing share price on June 7, 2024.
This month, BX reported&nbsp;second-quarter fiscal year 2024 adjusted revenues of&nbsp;$2.796 billion, beating the consensus of&nbsp;$2.619&nbsp;billion.&nbsp;Distributable earnings per share of&nbsp;$0.96&nbsp;(+3%&nbsp;Y/Y)&nbsp;<a target="_blank" href="https://www.benzinga.com//node/39841775" rel="noreferrer noopener">missed the consensus of&nbsp;$0.98</a>.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, BX stock has gained around&nbsp;35%&nbsp;in the last 12 months. Investors can gain exposure to the stock via&nbsp;EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/LBO#BATS">LBO</a>) and&nbsp;Invesco Global Listed Private Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSP#NYSE">PSP</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com//node/39844898" rel="noreferrer noopener">Blackstone Hits Two-Year Investment Peak, Anticipates Fed Rate Cuts Amid Easing Inflation: Report</a>
Price Action: ROIC stock closed 20.7% higher at $15.74 on Tuesday. BX shares are up 0.47% at $142.00 premarket at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

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A Decisive Realignment

Sector Spotlight: Shopping Center REITs

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Press Releases

RETAIL OPPORTUNITY INVESTMENTS INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Retail Opportunity Investments Corp. - ROIC

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates ATSG, ROIC, CDMO, STAF on Behalf of Shareholders

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates ROIC, PWUP, RVNC on Behalf of Shareholders

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates ATSG, ROIC, VINE on Behalf of Shareholders

ALERT: Rowley Law PLLC is Investigating Proposed Acquisition of Retail Opportunity Investments Corp.

Legal

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates ROIC, AE, MNTX on Behalf of Shareholders

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates AE, ROIC, CDMO, EMKR on Behalf of Shareholders

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates LBRDA, AE, ROIC, VINE on Behalf of Shareholders

$HAREHOLDER INVESTIGATION: The M&A Class Action Firm Continues to Investigate the Mergers of INSI, LBRDA, ROIC and ALVR

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates LBRDA, BERY, ROIC, PFC on Behalf of Shareholders

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