Retail Opportunity Investments (NASDAQ:ROIC) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Retail Opportunity Investments (NASDAQ:ROIC) announced its earnings results on Tuesday. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01), Briefing.com reports. Retail Opportunity Investments had a return on equity of 2.57% and a net margin of 10.40%. The company had revenue of $83.50 million during the quarter, compared to the consensus estimate of $82.13 million. During the same period in the prior year, the business posted $0.27 earnings per share. Retail Opportunity Investments’s revenue for the quarter was up 2.5% compared to the same quarter last year. Retail Opportunity Investments updated its FY 2024 guidance to 1.030-1.050 EPS.

Retail Opportunity Investments Stock Down 0.3 %

Shares of ROIC opened at $15.67 on Wednesday. The business’s 50 day moving average is $15.52 and its 200 day moving average is $13.78. 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 12-month low of $10.98 and a 12-month high of $16.27. The company has a market capitalization of $2.00 billion, a PE ratio of 52.23, a price-to-earnings-growth ratio of 2.07 and a beta of 1.45.

Analyst Upgrades and Downgrades

ROIC has been the topic of several recent research reports. StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. Wells Fargo & Company raised their target price 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, Raymond James upped their price target on shares of Retail Opportunity Investments from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Retail Opportunity Investments currently has a consensus rating of “Hold” and an average price target of $15.00.

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.