FY2024 Earnings Forecast for ROIC Issued By KeyCorp

Retail Opportunity Investments Corp. (NASDAQ:ROIC) – Investment analysts at KeyCorp issued their FY2024 earnings per share (EPS) estimates for shares of Retail Opportunity Investments in a research note issued to investors on Monday, November 4th. KeyCorp analyst T. Thomas expects that the real estate investment trust will post earnings per share of $1.04 for the year. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Retail Opportunity Investments’ current full-year earnings is $1.04 per share. KeyCorp also issued estimates for Retail Opportunity Investments’ Q4 2024 earnings at $0.25 EPS and FY2025 earnings at $1.06 EPS.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The company had revenue of $83.50 million during the quarter, compared to analysts’ expectations of $82.13 million. During the same period last year, the firm posted $0.27 earnings per share. Retail Opportunity Investments’s revenue was up 2.5% on a year-over-year basis.

ROIC has been the subject of a number of other reports. StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. Raymond James lowered shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Bank of America started coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They set an “underperform” rating and a $14.00 target price on the stock. Finally, Wells Fargo & Company raised their price target on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.50.

Retail Opportunity Investments Stock Up 4.6 %

NASDAQ:ROIC opened at $17.35 on Thursday. Retail Opportunity Investments has a 52 week low of $11.80 and a 52 week high of $17.40. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04. The stock’s fifty day moving average is $15.67 and its two-hundred day moving average is $14.05. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 37.72 and a beta of 1.44.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in shares of Retail Opportunity Investments by 1,473.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 1,753 shares in the last quarter. Allworth Financial LP grew its stake in Retail Opportunity Investments by 4,320.3% during the 3rd quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 3,197 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Retail Opportunity Investments by 35.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock worth $77,000 after buying an additional 1,289 shares during the period. Meeder Asset Management Inc. purchased a new stake in Retail Opportunity Investments in the second quarter valued at approximately $82,000. Finally, Point72 DIFC Ltd boosted its holdings in shares of Retail Opportunity Investments by 71.8% in the second quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 3,145 shares during the period. Institutional investors and hedge funds own 97.16% of the company’s stock.

Retail Opportunity Investments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a $0.15 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.60 annualized dividend and a yield of 3.46%. Retail Opportunity Investments’s dividend payout ratio (DPR) is 130.43%.

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.