Retail Opportunity Investments (NASDAQ:ROIC – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.040-1.070 for the period, compared to the consensus estimate of 1.050. The company issued revenue guidance of -. Retail Opportunity Investments also updated its FY24 guidance to $1.04-$1.07 EPS.
Analysts Set New Price Targets
Several brokerages have 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 report on Friday, April 5th. Wells Fargo & Company dropped their price target on shares of Retail Opportunity Investments from $14.00 to $13.50 and set an equal weight rating for the company in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Retail Opportunity Investments currently has a consensus rating of Hold and a consensus price target of $14.38.
Get Our Latest Report on Retail Opportunity Investments
Retail Opportunity Investments Stock Performance
Retail Opportunity Investments (NASDAQ:ROIC – Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.06 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.19). Retail Opportunity Investments had a net margin of 10.40% and a return on equity of 2.57%. The firm had revenue of $83.32 million during the quarter, compared to the consensus estimate of $81.19 million. During the same period in the previous year, the business earned $0.27 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Analysts forecast that Retail Opportunity Investments will post 1.05 EPS for the current year.
Retail Opportunity Investments Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend is Friday, September 20th. Retail Opportunity Investments’s dividend payout ratio is currently 200.00%.
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.
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