Retail Opportunity Investments Corp. to Issue Quarterly Dividend of $0.15 (NASDAQ:ROIC)

Retail Opportunity Investments Corp. (NASDAQ:ROIC) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders of record on Friday, June 14th will be paid a dividend of 0.15 per share by the real estate investment trust on Wednesday, July 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date is Friday, June 14th.

Retail Opportunity Investments has increased its dividend payment by an average of 44.2% annually over the last three years. Retail Opportunity Investments has a dividend payout ratio of 200.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Retail Opportunity Investments to earn $1.09 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 55.0%.

Retail Opportunity Investments Trading Down 1.0 %

Shares of Retail Opportunity Investments stock opened at $12.40 on Thursday. Retail Opportunity Investments has a fifty-two week low of $10.98 and a fifty-two week high of $15.16. The firm has a market cap of $1.58 billion, a PE ratio of 41.33 and a beta of 1.42. The business’s fifty day moving average is $12.65 and its two-hundred day moving average is $12.92. 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 issued its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.21). Retail Opportunity Investments had a return on equity of 2.74% and a net margin of 11.21%. The business had revenue of $84.60 million for the quarter, compared to analysts’ expectations of $81.09 million. During the same period in the prior year, the company earned $0.27 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts anticipate that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Bank of America reaffirmed an “underperform” rating and issued a $12.00 target price (down from $14.50) on shares of Retail Opportunity Investments in a research report on Friday, April 5th. StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, KeyCorp raised 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average 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.