Retail Opportunity Investments (NASDAQ:ROIC) Releases FY 2024 Earnings Guidance

Retail Opportunity Investments (NASDAQ:ROIC) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.030-1.090 for the period, compared to the consensus EPS estimate of 1.050. The company issued revenue guidance of -. Retail Opportunity Investments also updated its FY24 guidance to $1.03-$1.09 EPS.

Retail Opportunity Investments Stock Down 0.9 %

Retail Opportunity Investments stock traded down $0.11 during trading hours on Wednesday, hitting $12.42. The stock had a trading volume of 612,952 shares, compared to its average volume of 1,203,004. The stock’s 50-day moving average price is $12.66 and its 200-day moving average price is $12.93. The stock has a market capitalization of $1.58 billion, a P/E ratio of 45.96 and a beta of 1.42. Retail Opportunity Investments has a 12-month low of $10.98 and a 12-month high of $15.16. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.01.

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 for the quarter, missing the consensus estimate of $0.27 by ($0.21). Retail Opportunity Investments had a net margin of 10.54% and a return on equity of 2.53%. The firm had revenue of $84.60 million for the quarter, compared to the consensus estimate of $81.09 million. During the same period in the previous year, the company earned $0.27 earnings per share. Retail Opportunity Investments’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities research analysts anticipate that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend was Thursday, March 14th. Retail Opportunity Investments’s dividend payout ratio (DPR) is 222.23%.

Analyst Ratings Changes

ROIC has been the subject of a number of research reports. Bank of America reissued an underperform rating and issued a $12.00 target price (down from $14.50) on shares of Retail Opportunity Investments in a report on Friday, April 5th. KeyCorp raised shares of Retail Opportunity Investments from a sector weight rating to an overweight rating and set a $16.00 price target for the company in a research note on Friday, January 5th. Finally, StockNews.com raised shares of Retail Opportunity Investments from a sell rating to a hold rating in a research note on Wednesday, February 14th. One research 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 data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $14.75.

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.