Retail Opportunity Investments (NASDAQ:ROIC) Releases Quarterly Earnings Results

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

Retail Opportunity Investments Stock Performance

Shares of ROIC stock traded down $0.03 during trading on Thursday, reaching $15.86. 1,223,048 shares of the company’s stock traded hands, compared to its average volume of 1,084,458. The firm’s 50-day moving average is $15.55 and its 200 day moving average is $13.81. 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. Retail Opportunity Investments has a 1 year low of $10.98 and a 1 year 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be paid a $0.15 dividend. The ex-dividend date of this dividend 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%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ROIC. Bank of America began coverage on Retail Opportunity Investments in a research report on Thursday. They issued an “underperform” rating and a $14.00 price objective on the stock. Wells Fargo & Company increased their price target on shares of 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. Raymond James boosted their target price on shares of Retail Opportunity Investments from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Finally, StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $15.50.

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.