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

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ROIC. Raymond James boosted their target price on Retail Opportunity Investments from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Wells Fargo & Company boosted their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Bank of America began coverage on Retail Opportunity Investments in a report on Thursday. They issued an “underperform” rating and a $14.00 target price on the stock. Finally, StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.50.

Retail Opportunity Investments Price Performance

Shares of Retail Opportunity Investments stock traded down $0.04 during trading on Friday, reaching $15.82. The company’s stock had a trading volume of 56,467 shares, compared to its average volume of 1,079,492. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.07. Retail Opportunity Investments has a 12-month low of $10.98 and a 12-month high of $16.27. The company has a market capitalization of $2.02 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 2.08 and a beta of 1.45. The business has a 50 day moving average price of $15.55 and a 200-day moving average price of $13.81.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.33%. The business had revenue of $83.50 million during the quarter, compared to analysts’ expectations of $82.13 million. During the same quarter last year, the firm earned $0.27 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Retail Opportunity Investments will post 1.05 EPS for the current year.

Retail Opportunity Investments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a yield of 3.79%. Retail Opportunity Investments’s payout ratio is 130.43%.

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.