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

Retail Opportunity Investments (NASDAQ:ROIC) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 1.030-1.090 for the period, compared to the consensus earnings per share estimate of 1.050. The company issued revenue guidance of -. Retail Opportunity Investments also updated its FY24 guidance to $1.03-$1.09 EPS.

Retail Opportunity Investments Stock Down 0.3 %

Shares of NASDAQ ROIC traded down $0.04 during trading on Thursday, reaching $12.36. The company had a trading volume of 1,001,430 shares, compared to its average volume of 1,205,679. The business’s 50-day moving average is $12.65 and its 200 day moving average is $12.92. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.01. The stock has a market cap of $1.58 billion, a PE ratio of 41.00 and a beta of 1.42. Retail Opportunity Investments has a 12-month low of $10.98 and a 12-month high of $15.16.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.21). The business had revenue of $84.60 million during the quarter, compared to the consensus estimate of $81.09 million. Retail Opportunity Investments had a return on equity of 2.74% and a net margin of 11.21%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 EPS. As a group, equities analysts forecast that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.85%. Retail Opportunity Investments’s payout ratio is currently 200.00%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ROIC. Bank of America reiterated an underperform rating and issued a $12.00 target price (down from $14.50) on shares of Retail Opportunity Investments in a research report on Friday, April 5th. KeyCorp upgraded 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 report on Friday, January 5th. Finally, StockNews.com upgraded shares of Retail Opportunity Investments from a sell rating to a hold rating in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target 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.