Retail Opportunity Investments (NASDAQ:ROIC) Issues FY 2024 Earnings Guidance

Retail Opportunity Investments (NASDAQ:ROIC) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.030-1.050 for the period, compared to the consensus EPS estimate of 1.050. The company issued revenue guidance of -.

Retail Opportunity Investments Price Performance

Shares of NASDAQ:ROIC traded down $0.04 on Friday, hitting $15.82. The company had a trading volume of 56,467 shares, compared to its average volume of 1,079,492. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.07. Retail Opportunity Investments has a 52-week low of $10.98 and a 52-week high of $16.27. The business has a 50 day moving average of $15.55 and a 200 day moving average of $13.81. The company has a market cap of $2.02 billion, a PE ratio of 34.48, a PEG ratio of 2.08 and a beta of 1.45.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.33%. The company had revenue of $83.50 million during the quarter, compared to analysts’ expectations of $82.13 million. During the same quarter in the prior year, the company earned $0.27 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that Retail Opportunity Investments will post 1.05 earnings per share for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be given a $0.15 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.79%. Retail Opportunity Investments’s dividend payout ratio is currently 130.43%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ROIC shares. Raymond James upped their price objective on Retail Opportunity Investments from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Wells Fargo & Company upped their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Bank of America assumed coverage on Retail Opportunity Investments in a research note on Thursday. They issued an “underperform” rating and a $14.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently 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.