Retail Opportunity Investments (NASDAQ:ROIC) Releases FY24 Earnings Guidance

Retail Opportunity Investments (NASDAQ:ROIC) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.03-$1.09 for the period, compared to the consensus estimate of $1.05.

Retail Opportunity Investments Stock Up 1.0 %

Shares of ROIC traded up $0.13 on Tuesday, reaching $12.53. The company’s stock had a trading volume of 855,831 shares, compared to its average volume of 1,206,460. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.01. Retail Opportunity Investments has a twelve month low of $10.98 and a twelve month high of $15.16. The stock has a market capitalization of $1.60 billion, a PE ratio of 46.56 and a beta of 1.42. The firm has a fifty day moving average of $12.67 and a 200-day moving average of $12.92.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.06 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.21). Retail Opportunity Investments had a net margin of 10.54% and a return on equity of 2.53%. The firm had revenue of $84.60 million during the quarter, compared to analysts’ expectations of $81.09 million. During the same quarter last year, the business posted $0.27 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts predict that Retail Opportunity Investments will post 1.04 EPS for the current year.

Retail Opportunity Investments Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend was Thursday, March 14th. Retail Opportunity Investments’s dividend payout ratio is presently 222.23%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ROIC. Bank of America restated an underperform rating and set a $12.00 price objective (down previously from $14.50) on shares of Retail Opportunity Investments in a research report on Friday, April 5th. StockNews.com upgraded shares of Retail Opportunity Investments from a sell rating to a hold rating in a research report on Wednesday, February 14th. Finally, KeyCorp raised shares of Retail Opportunity Investments from a sector weight rating to an overweight rating and set a $16.00 price target for the company in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Retail Opportunity Investments presently has an average rating of Hold and an average target price of $14.75.

Retail Opportunity Investments Company Profile

Retail Opportunity Investments Corp. (Nasdaq: ROIC), is a fully integrated, self-managed real estate investment trust (REIT) that specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely populated, metropolitan markets across the West Coast. As of December 31, 2023, ROIC owned 94 shopping centers encompassing approximately 10.6 million square feet.