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

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

Retail Opportunity Investments Price Performance

Retail Opportunity Investments stock traded up $0.13 during mid-day trading on Tuesday, reaching $12.53. The company had a trading volume of 855,831 shares, compared to its average volume of 1,210,918. Retail Opportunity Investments has a fifty-two week low of $10.98 and a fifty-two week high of $15.16. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.01. The company has a market cap of $1.60 billion, a P/E ratio of 46.41 and a beta of 1.42. The business has a fifty day simple moving average of $12.67 and a 200 day simple moving average of $12.92.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings results 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). The business had revenue of $84.60 million for the quarter, compared to analyst estimates of $81.09 million. Retail Opportunity Investments had a return on equity of 2.53% and a net margin of 10.54%. Retail Opportunity Investments’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. On average, equities research analysts predict that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis 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%.

Wall Street Analyst Weigh In

ROIC has been the subject of several recent research reports. Bank of America reissued an underperform rating and set a $12.00 target price (down from $14.50) on shares of Retail Opportunity Investments in a research report on Friday, April 5th. KeyCorp raised shares of 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 report on Friday, January 5th. Finally, StockNews.com raised shares of Retail Opportunity Investments from a sell rating to a hold rating in a research report on Wednesday, February 14th. One 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 data from MarketBeat.com, the company has an average rating of Hold and a consensus price target 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.