Jefferies Starts Retail Opportunity Investments (ROIC) at Buy
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Jefferies initiates coverage on Retail Opportunity Investments (NASDAQ: ROIC) with a Buy rating and a price target of $25.00.
Analyst George Hoglund commented, "ROIC's high quality, grocery anchored portfolio is 100% located on the West Coast and benefits from attractive demographics in infill markets. ROIC is our top pick in the Shopping Center sector as we think ROIC's sector leading occupancy and SSNOI growth over the past five years is sustainable and warrants a valuation premium. We are initiating with a Buy rating and $25 PT. Jefferies was a book manager in ROIC's July 2016 common equity offering."
Shares of Retail Opportunity Investments closed at $19.79 yesterday.
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