Retail Opportunity Investments Corp. (NASDAQ:ROIC) Declares $0.15 Quarterly Dividend

Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Friday, June 14th will be given a dividend of 0.15 per share by the real estate investment trust on Wednesday, July 10th. This represents a $0.60 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend is Friday, June 14th.

Retail Opportunity Investments has increased its dividend by an average of 44.2% annually over the last three years. Retail Opportunity Investments has a payout ratio of 200.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Retail Opportunity Investments to earn $1.09 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 55.0%.

Retail Opportunity Investments Stock Down 1.0 %

Shares of Retail Opportunity Investments stock opened at $12.40 on Thursday. Retail Opportunity Investments has a 1 year low of $10.98 and a 1 year high of $15.16. The business has a 50-day moving average of $12.65 and a two-hundred day moving average of $12.92. The company has a market capitalization of $1.58 billion, a P/E ratio of 41.33 and a beta of 1.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.38 and a quick ratio of 1.38.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.21). Retail Opportunity Investments had a return on equity of 2.74% and a net margin of 11.21%. The business had revenue of $84.60 million during the quarter, compared to the consensus estimate of $81.09 million. During the same quarter last year, the company earned $0.27 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts predict that Retail Opportunity Investments will post 1.04 EPS for the current year.

Analyst Upgrades and Downgrades

ROIC has been the subject of a number of research reports. StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. Bank of America reiterated an “underperform” rating and set a $12.00 price objective (down from $14.50) on shares of Retail Opportunity Investments in a report on Friday, April 5th. Finally, 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 report on Friday, January 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Retail Opportunity Investments has a consensus 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.