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

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. KeyCorp upgraded Retail Opportunity Investments from a sector weight rating to an overweight rating and set a $16.00 price target on the stock in a 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 reissued an underperform rating and issued a $12.00 price objective (down previously from $14.50) on shares of Retail Opportunity Investments in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $14.75.

Retail Opportunity Investments Price Performance

Shares of Retail Opportunity Investments stock traded up $0.13 on Tuesday, hitting $12.53. 855,831 shares of the company were exchanged, compared to its average volume of 1,206,460. Retail Opportunity Investments has a 1-year low of $10.98 and a 1-year high of $15.16. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 46.56 and a beta of 1.42. The company has a 50-day moving average price of $12.67 and a 200 day moving average price of $12.92. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.01.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its 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 firm had revenue of $84.60 million during the quarter, compared to analysts’ expectations of $81.09 million. Retail Opportunity Investments had a net margin of 10.54% and a return on equity of 2.53%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 EPS. As a group, sell-side analysts predict that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

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

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.