Retail Opportunity Investments (NASDAQ:ROIC) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Retail Opportunity Investments (NASDAQ:ROIC) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01), Briefing.com reports. The firm had revenue of $83.50 million for the quarter, compared to analysts’ expectations of $82.13 million. Retail Opportunity Investments had a net margin of 10.40% and a return on equity of 2.57%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.27 earnings per share. Retail Opportunity Investments updated its FY 2024 guidance to 1.030-1.050 EPS.

Retail Opportunity Investments Price Performance

Shares of ROIC opened at $15.67 on Wednesday. The firm has a fifty day simple moving average of $15.52 and a two-hundred day simple moving average of $13.78. The firm has a market cap of $2.00 billion, a PE ratio of 52.23, a P/E/G ratio of 2.07 and a beta of 1.45. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.07. Retail Opportunity Investments has a 1-year low of $10.98 and a 1-year high of $16.27.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ROIC. Raymond James upped their target price on shares of Retail Opportunity Investments from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Wells Fargo & Company increased their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Finally, StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $15.00.

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.