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

Retail Opportunity Investments Corp. (NASDAQ:ROIC) declared a quarterly dividend on Tuesday, October 22nd, Zacks reports. Investors 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 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Friday, December 20th.

Retail Opportunity Investments has raised its dividend payment by an average of 44.2% per year 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. 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 Stock Performance

Shares of ROIC stock opened at $15.89 on Thursday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.07. The firm has a fifty day moving average price of $15.54 and a 200 day moving average price of $13.79. The company has a market cap of $2.03 billion, a P/E ratio of 52.97, a PEG ratio of 2.07 and a beta of 1.45. Retail Opportunity Investments has a 12 month low of $10.98 and a 12 month high of $16.27.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its 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). The firm had revenue of $83.50 million for the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a return on equity of 2.57% and a net margin of 10.40%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 EPS. Sell-side analysts predict that Retail Opportunity Investments will post 1.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ROIC has been the subject of a number of analyst reports. Wells Fargo & Company boosted their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Bank of America assumed coverage on shares of Retail Opportunity Investments in a research note on Thursday. They issued an “underperform” rating and a $14.00 price objective for the company. StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Raymond James upped their price objective 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $15.50.

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.