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

Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced a quarterly dividend on Tuesday, October 22nd,Zacks Dividends reports. Shareholders of record on Friday, December 20th will be paid a dividend of 0.15 per share by the real estate investment trust on Friday, January 10th. This represents a $0.60 annualized dividend and a yield of 3.44%. The ex-dividend date is Friday, December 20th.

Retail Opportunity Investments has raised its dividend by an average of 44.2% per year over the last three years. Retail Opportunity Investments has a dividend payout ratio of 214.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Retail Opportunity Investments to earn $1.05 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 57.1%.

Retail Opportunity Investments Price Performance

Shares of NASDAQ ROIC opened at $17.45 on Wednesday. The firm has a market cap of $2.24 billion, a P/E ratio of 37.93 and a beta of 1.47. The business’s 50 day moving average is $16.73 and its 200-day moving average is $15.05. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04. Retail Opportunity Investments has a 1-year low of $11.87 and a 1-year high of $17.52.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The firm had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. During the same period in the prior year, the company earned $0.27 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts predict that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on ROIC. BMO Capital Markets lifted their price objective on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a research note on Friday, November 8th. Baird R W downgraded shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Bank of America initiated coverage on Retail Opportunity Investments in a research report on Thursday, October 24th. They set an “underperform” rating and a $14.00 price target on the stock. Raymond James lowered Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company upped their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $16.17.

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.