Retail Opportunity Investments Corp. (ROIC) To Go Ex-Dividend on September 20th

Retail Opportunity Investments Corp. (NASDAQ:ROIC) declared a quarterly dividend on Tuesday, July 23rd, Zacks reports. Investors of record on Friday, September 20th will be paid a dividend of 0.15 per share by the real estate investment trust on Friday, October 4th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Friday, September 20th.

Retail Opportunity Investments has increased its dividend by an average of 44.2% per year over the last three years. Retail Opportunity Investments has a dividend payout ratio of 200.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Retail Opportunity Investments to earn $1.06 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 56.6%.

Retail Opportunity Investments Stock Performance

Shares of ROIC stock opened at $15.82 on Wednesday. The firm has a 50 day moving average of $14.69 and a two-hundred day moving average of $13.25. The stock has a market capitalization of $2.02 billion, a PE ratio of 52.73, a P/E/G ratio of 2.01 and a beta of 1.45. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.07. Retail Opportunity Investments has a 52 week low of $10.98 and a 52 week high of $16.20.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings data 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 return on equity of 2.57% and a net margin of 10.40%. The company had revenue of $83.32 million for the quarter, compared to analyst estimates of $81.19 million. During the same period in the prior year, the firm posted $0.27 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, research analysts predict that Retail Opportunity Investments will post 1.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ROIC has been the topic of several research analyst reports. StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. Wells Fargo & Company lifted their price target on Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Finally, Raymond James increased their price objective on Retail Opportunity Investments from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, August 16th. 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’s stock. According to MarketBeat.com, Retail Opportunity Investments has an average rating of “Hold” and an average price target 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.