Retail Opportunity Investments (NASDAQ:ROIC) Releases FY24 Earnings Guidance

Retail Opportunity Investments (NASDAQ:ROIC) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.03-$1.09 for the period, compared to the consensus estimate of $1.05. Retail Opportunity Investments also updated its FY 2024 guidance to 1.030-1.090 EPS.

Retail Opportunity Investments Price Performance

Shares of NASDAQ ROIC traded up $0.12 during trading on Friday, reaching $12.48. The company had a trading volume of 71,562 shares, compared to its average volume of 1,191,448. Retail Opportunity Investments has a 52 week low of $10.98 and a 52 week high of $15.16. The stock has a market cap of $1.59 billion, a PE ratio of 41.20 and a beta of 1.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.38 and a current ratio of 1.07. The business’s 50 day moving average price is $12.64 and its 200-day moving average price is $12.92.

Retail Opportunity Investments (NASDAQ:ROIC) last posted 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). The business had revenue of $84.60 million for the quarter, compared to the consensus estimate of $81.09 million. Retail Opportunity Investments had a return on equity of 2.75% and a net margin of 11.21%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.27 earnings per share. Analysts expect that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Retail Opportunity Investments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date is Friday, June 14th. Retail Opportunity Investments’s dividend payout ratio (DPR) is 200.00%.

Analysts Set New Price Targets

ROIC has been the subject of a number of recent research reports. Bank of America reissued an underperform rating and set a $12.00 price target (down from $14.50) on shares of Retail Opportunity Investments in a research note on Friday, April 5th. StockNews.com raised shares of Retail Opportunity Investments from a sell rating to a hold rating in a research note on Wednesday, February 14th. Finally, KeyCorp raised shares of Retail Opportunity Investments from a sector weight rating to an overweight rating and set a $16.00 target price for the company in a research note on Friday, January 5th. One 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’s stock. Based on data from MarketBeat, Retail Opportunity Investments currently has an average rating of Hold and a consensus target price 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.