Retail Opportunity Investments (NASDAQ:ROIC) Issues FY24 Earnings Guidance

Retail Opportunity Investments (NASDAQ:ROIC) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.04-$1.07 for the period, compared to the consensus EPS estimate of $1.05. Retail Opportunity Investments also updated its FY 2024 guidance to 1.040-1.070 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company dropped their price objective on Retail Opportunity Investments from $14.00 to $13.50 and set an equal weight rating on the stock in a research report on Tuesday, May 28th. Bank of America reaffirmed an underperform rating and set a $12.00 price objective (down previously from $14.50) on shares of Retail Opportunity Investments in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Retail Opportunity Investments has an average rating of Hold and a consensus price target of $14.38.

Retail Opportunity Investments Stock Up 0.2 %

ROIC stock traded up $0.03 during trading on Friday, reaching $12.65. 72,734 shares of the company traded hands, compared to its average volume of 1,047,225. Retail Opportunity Investments has a 12 month low of $10.98 and a 12 month high of $15.16. The business has a 50 day simple moving average of $12.56 and a 200 day simple moving average of $12.82. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 42.07 and a beta of 1.45. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.07 and a current ratio of 1.48.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $83.32 million during the quarter, compared to analysts’ expectations of $81.19 million. During the same quarter last year, the business posted $0.27 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that Retail Opportunity Investments will post 1.05 earnings per share for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date is Friday, September 20th. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 200.00%.

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.