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

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

Retail Opportunity Investments Stock Down 0.2 %

Retail Opportunity Investments stock traded down $0.03 during trading on Thursday, hitting $15.86. 1,223,048 shares of the company were exchanged, compared to its average volume of 1,084,458. The company has a market capitalization of $2.02 billion, a P/E ratio of 52.87, a PEG ratio of 2.07 and a beta of 1.45. The business’s 50 day moving average is $15.55 and its 200 day moving average is $13.81. Retail Opportunity Investments has a 52 week low of $10.98 and a 52 week high of $16.27. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, December 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.78%. Retail Opportunity Investments’s payout ratio is 200.00%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ROIC. StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. Raymond James upped their price target on 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 price target on Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Finally, Bank of America started coverage on Retail Opportunity Investments in a research report on Thursday. They set an “underperform” rating and a $14.00 target price on the stock. One equities 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.50.

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.