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

Retail Opportunity Investments (NASDAQ:ROIC) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $1.03-$1.09 for the period, compared to the consensus EPS estimate of $1.05.

Retail Opportunity Investments Stock Performance

NASDAQ ROIC traded up $0.13 during trading hours on Tuesday, hitting $12.53. The company had a trading volume of 855,831 shares, compared to its average volume of 1,210,918. The business has a 50 day moving average of $12.67 and a 200-day moving average of $12.92. The company has a market cap of $1.60 billion, a PE ratio of 46.41 and a beta of 1.42. Retail Opportunity Investments has a 1-year low of $10.98 and a 1-year high of $15.16. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.38 and a current ratio of 1.38.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.21). Retail Opportunity Investments had a return on equity of 2.53% and a net margin of 10.54%. The firm had revenue of $84.60 million for the quarter, compared to analysts’ expectations of $81.09 million. During the same quarter in the prior year, the business earned $0.27 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts expect that Retail Opportunity Investments will post 1.04 EPS for the current year.

Retail Opportunity Investments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend was Thursday, March 14th. Retail Opportunity Investments’s payout ratio is currently 222.23%.

Wall Street Analysts Forecast Growth

ROIC has been the topic of several recent research reports. StockNews.com raised shares of Retail Opportunity Investments from a sell rating to a hold rating in a research note on Wednesday, February 14th. KeyCorp upgraded Retail Opportunity Investments from a sector weight rating to an overweight rating and set a $16.00 target price on the stock in a research report on Friday, January 5th. Finally, Bank of America restated an underperform rating and issued a $12.00 price target (down from $14.50) on shares of Retail Opportunity Investments in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $14.75.

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.