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

Retail Opportunity Investments (NASDAQ:ROIC) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01), Briefing.com reports. The business had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a return on equity of 4.33% and a net margin of 17.38%. Retail Opportunity Investments’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 earnings per share. Retail Opportunity Investments updated its FY 2024 guidance to 1.030-1.050 EPS.

Retail Opportunity Investments Trading Down 0.2 %

Shares of ROIC stock opened at $15.86 on Friday. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.08 and a beta of 1.45. The stock has a 50-day moving average of $15.55 and a 200-day moving average of $13.81. 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 1-year low of $10.98 and a 1-year high of $16.27.

Retail Opportunity Investments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.78%. Retail Opportunity Investments’s payout ratio is 130.43%.

Wall Street Analyst Weigh In

Several research firms have commented on ROIC. Bank of America began coverage on Retail Opportunity Investments in a research report on Thursday. They issued an “underperform” rating and a $14.00 target price for the company. Wells Fargo & Company increased their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Raymond James increased their target price 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. Finally, StockNews.com upgraded 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, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Retail Opportunity Investments currently has an average rating of “Hold” and an average target price 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.