FY2024 Earnings Forecast for ROIC Issued By KeyCorp

Retail Opportunity Investments Corp. (NASDAQ:ROIC) – Investment analysts at KeyCorp issued their FY2024 earnings per share estimates for shares of Retail Opportunity Investments in a note issued to investors on Monday, November 4th. KeyCorp analyst T. Thomas forecasts that the real estate investment trust will earn $1.04 per share for the year. KeyCorp 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.

A number of other equities research analysts have also recently commented on the company. Raymond James cut 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 price target on the stock. Wells Fargo & Company lifted their price objective 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. Finally, StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.50.

Retail Opportunity Investments Price Performance

Shares of ROIC opened at $17.35 on Thursday. The company has a 50 day moving average price of $15.67 and a 200-day moving average price of $14.05. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92. Retail Opportunity Investments has a fifty-two week low of $11.80 and a fifty-two week high of $17.40. The stock has a market capitalization of $2.23 billion, a PE ratio of 37.72 and a beta of 1.44.

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

Retail Opportunity Investments Dividend Announcement

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

Institutional Trading of Retail Opportunity Investments

Hedge funds and other institutional investors have recently made changes to their positions in the business. Inspire Investing LLC boosted its holdings in Retail Opportunity Investments by 3.1% in the first quarter. Inspire Investing LLC now owns 28,070 shares of the real estate investment trust’s stock valued at $360,000 after purchasing an additional 856 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Retail Opportunity Investments by 2.7% in the second quarter. Arizona State Retirement System now owns 35,555 shares of the real estate investment trust’s stock worth $442,000 after buying an additional 927 shares during the last quarter. Creative Planning grew its holdings in Retail Opportunity Investments by 6.7% during the third quarter. Creative Planning now owns 18,988 shares of the real estate investment trust’s stock worth $299,000 after acquiring an additional 1,194 shares during the period. Mirae Asset Global Investments Co. Ltd. raised 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 valued at $77,000 after acquiring an additional 1,289 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Retail Opportunity Investments by 7.4% in the second quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock valued at $236,000 after acquiring an additional 1,307 shares during the period. Institutional investors and hedge funds own 97.16% of the company’s stock.

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.