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

Retail Opportunity Investments Corp. (NASDAQ:ROIC) declared a quarterly dividend on Tuesday, October 22nd, Zacks reports. Stockholders of record on Friday, December 20th will be paid a dividend of 0.15 per share by the real estate investment trust on Friday, January 10th. This represents a $0.60 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Friday, December 20th.

Retail Opportunity Investments has increased its dividend payment by an average of 44.2% per year over the last three years. Retail Opportunity Investments has a 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. Equities 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 Trading Up 1.4 %

NASDAQ ROIC opened at $15.89 on Thursday. Retail Opportunity Investments has a twelve month low of $10.98 and a twelve month high of $16.27. The business’s fifty day moving average is $15.54 and its 200 day moving average is $13.79. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.07. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 52.97, a price-to-earnings-growth ratio of 2.07 and a beta of 1.45.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Retail Opportunity Investments had a net margin of 10.40% and a return on equity of 2.57%. The firm had revenue of $83.50 million for the quarter, compared to analyst estimates of $82.13 million. During the same period in the previous year, the business posted $0.27 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that Retail Opportunity Investments will post 1.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ROIC. StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. Wells Fargo & Company raised their price target on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Finally, 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 report on Friday, August 16th. One equities 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 MarketBeat.com, Retail Opportunity Investments currently 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.