(Reuters) - Private equity firm Blackstone is in early-stage talks to acquire Retail Opportunity Investments Corp ( ROIC ) , an owner of U.S. shopping centers with a market value of about $1.7 billion, according to people familiar with the matter.

Blackstone's interest comes after ROIC's shares lost more than 10% of their value in the last 12 months, underperforming some other real estate investment trusts. The buyout firm's approach indicates it sees values in ROIC's properties, which mainly house supermarkets and drugstores.

No deal is certain and another bidder for ROIC could emerge, the sources said, requesting anonymity because the matter is confidential.

Blackstone declined to comment. ROIC did not immediately respond to requests for comment.