Retail Opportunity Investments Corp. (NASDAQ:ROIC) Declares Quarterly Dividend of $0.15

Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders of record on Friday, June 14th will be given a dividend of 0.15 per share by the real estate investment trust on Wednesday, July 10th. This represents a $0.60 annualized dividend and a yield of 4.91%. The ex-dividend date of this dividend is Friday, June 14th.

Retail Opportunity Investments has raised its dividend by an average of 44.2% per year over the last three years. Retail Opportunity Investments has a dividend payout ratio of 200.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Retail Opportunity Investments to earn $1.09 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 55.0%.

Retail Opportunity Investments Stock Performance

Shares of ROIC traded down $0.19 on Thursday, reaching $12.21. 53,449 shares of the company’s stock traded hands, compared to its average volume of 1,193,734. 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 52-week low of $10.98 and a 52-week high of $15.16. The stock’s 50 day simple moving average is $12.65 and its two-hundred day simple moving average is $12.92. The stock has a market cap of $1.56 billion, a PE ratio of 41.33 and a beta of 1.42.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.21). The business had revenue of $84.60 million for the quarter, compared to analysts’ expectations of $81.09 million. Retail Opportunity Investments had a return on equity of 2.74% and a net margin of 11.21%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 earnings per share. On average, analysts forecast that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ROIC shares. KeyCorp upgraded Retail Opportunity Investments from a “sector weight” rating to an “overweight” rating and set a $16.00 price objective for the company in a research report on Friday, January 5th. StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $12.00 price target (down previously from $14.50) on shares of Retail Opportunity Investments in a research report on Friday, April 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $14.75.

About Retail Opportunity Investments

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.