BofA downgraded Retail Opportunity to Underperform from Neutral with a price target of $12, down from $14.50. The firm believes Retail Opportunity is not as well positioned for external growth opportunities as its sector peers and the company is missing out on acquisition opportunities peers are finding in new or existing markets given peers have more diverse geographic exposure vs. Retail Opportunity’s strict focus on the West Coast, the analyst tells investors in a research note. BofA sees peers better positioned to grow FFO and AFFO over the next two years.
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Read More on ROIC:
- Retail Opportunity Investments Corp. Schedules First Quarter Earnings Release and Conference Call
- Retail Opportunity price target lowered to $14 from $15 at Wells Fargo
- Retail Opportunity sees FY24 FFO $1.03-$1.09, consensus $1.08
- Retail Opportunity reports Q4 FFO 27c, consensus 27c
- Retail Opportunity Investments Corp. Reports 2023 Results
