Why Retail Opportunity Investments (ROIC) Stock Is Down After-Hours Wednesday

NEW YORK (TheStreet) -- Retail Opportunity Investments (ROIC) was falling 2.7% to $15.00 after-hours Wednesday after announcing a proposed offering of common stock.

The company announced it plans to offer 12.5 million shares of common stock in the offering. Retail Opportunity Investments will give the underwriters a 30-day option to buy up to an additional 1.875 million shares.

Retail Opportunity Investments will use the proceeds from the offering to pay down borrowing under its $350 million unsecured revolving credit facility.

Citigroup and Wells Fargo Securities will act as joint book-running managers for the offering.

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TheStreet Ratings team rates RETAIL OPPORTUNITY INVTS CP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate RETAIL OPPORTUNITY INVTS CP (ROIC) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income, good cash flow from operations, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

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