Retail Opportunity Investments Corp (NASDAQ:ROIC) announced a quarterly dividend on Wednesday, October 24th, Wall Street Journal reports. Stockholders of record on Friday, December 14th will be given a dividend of 0.195 per share by the real estate investment trust on Friday, December 28th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Thursday, December 13th.
Retail Opportunity Investments has increased its dividend by an average of 5.4% annually over the last three years and has increased its dividend every year for the last 8 years. Retail Opportunity Investments has a dividend payout ratio of 67.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Retail Opportunity Investments to earn $1.18 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 66.1%.
ROIC stock opened at $17.94 on Friday. The firm has a market cap of $2.06 billion, a PE ratio of 15.75, a PEG ratio of 2.81 and a beta of 0.57. Retail Opportunity Investments has a twelve month low of $16.17 and a twelve month high of $20.14. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.10.
Retail Opportunity Investments (NASDAQ:ROIC) last released its earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.22). The firm had revenue of $73.90 million for the quarter, compared to the consensus estimate of $73.15 million. Retail Opportunity Investments had a return on equity of 3.26% and a net margin of 14.69%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS. On average, equities research analysts predict that Retail Opportunity Investments will post 1.14 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on the company. ValuEngine upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Zacks Investment Research upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Thursday, August 16th. BMO Capital Markets initiated coverage on Retail Opportunity Investments in a report on Tuesday, September 18th. They issued a “hold” rating and a $20.00 price objective for the company. Finally, BidaskClub downgraded Retail Opportunity Investments from a “hold” rating to a “sell” rating in a report on Friday, September 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Retail Opportunity Investments presently has a consensus rating of “Hold” and a consensus target price of $18.75.
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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 June 30, 2018, ROIC owned 92 shopping centers encompassing approximately 10.6 million square feet.
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