Retail Opportunity Investments (NASDAQ:ROIC) Releases FY 2024 Earnings Guidance

Retail Opportunity Investments (NASDAQ:ROIC) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.030-1.090 for the period, compared to the consensus estimate of 1.050. The company issued revenue guidance of -. Retail Opportunity Investments also updated its FY24 guidance to $1.03-$1.09 EPS.

Wall Street Analysts Forecast Growth

ROIC has been the topic of a number of recent research reports. Bank of America reiterated an underperform rating and issued a $12.00 price objective (down from $14.50) on shares of Retail Opportunity Investments in a research report on Friday, April 5th. StockNews.com upgraded Retail Opportunity Investments from a sell rating to a hold rating in a research note on Wednesday, February 14th. Finally, KeyCorp upgraded Retail Opportunity Investments from a sector weight rating to an overweight rating and set a $16.00 target price for the company in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Retail Opportunity Investments presently has an average rating of Hold and an average target price of $14.75.

Retail Opportunity Investments Stock Up 0.6 %

Retail Opportunity Investments stock traded up $0.07 during trading hours on Friday, hitting $12.43. The company had a trading volume of 131,841 shares, compared to its average volume of 1,192,250. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.07 and a quick ratio of 1.38. The firm has a market capitalization of $1.58 billion, a P/E ratio of 41.20 and a beta of 1.42. Retail Opportunity Investments has a fifty-two week low of $10.98 and a fifty-two week high of $15.16. The firm’s fifty day moving average is $12.64 and its 200-day moving average is $12.92.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.21). Retail Opportunity Investments had a return on equity of 2.75% and a net margin of 11.21%. The company had revenue of $84.60 million for the quarter, compared to the consensus estimate of $81.09 million. During the same period in the prior year, the company earned $0.27 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. On average, research analysts forecast that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.83%. The ex-dividend date is Friday, June 14th. Retail Opportunity Investments’s payout ratio is currently 200.00%.

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.