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

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

Retail Opportunity Investments Stock Down 0.9 %

NASDAQ ROIC traded down $0.11 on Wednesday, reaching $12.42. The company had a trading volume of 612,952 shares, compared to its average volume of 1,203,004. The firm has a 50-day moving average of $12.66 and a 200-day moving average of $12.93. Retail Opportunity Investments has a 1 year low of $10.98 and a 1 year high of $15.16. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market capitalization of $1.58 billion, a PE ratio of 45.96 and a beta of 1.42.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.21). Retail Opportunity Investments had a return on equity of 2.53% and a net margin of 10.54%. The business had revenue of $84.60 million during the quarter, compared to analyst estimates of $81.09 million. During the same quarter last year, the firm posted $0.27 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.60 annualized dividend and a dividend yield of 4.83%. Retail Opportunity Investments’s payout ratio is 222.23%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ROIC. Bank of America restated an underperform rating and set a $12.00 price objective (down from $14.50) on shares of Retail Opportunity Investments in a research note on Friday, April 5th. 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. Finally, StockNews.com upgraded shares of Retail Opportunity Investments from a sell rating to a hold rating in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target 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.