Retail Opportunity Investments (NASDAQ:ROIC) Releases FY24 Earnings Guidance

Retail Opportunity Investments (NASDAQ:ROIC) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.03-$1.09 for the period, compared to the consensus estimate of $1.05. Retail Opportunity Investments also updated its FY 2024 guidance to 1.030-1.090 EPS.

Retail Opportunity Investments Price Performance

ROIC stock traded up $0.12 during trading on Friday, hitting $12.48. The company had a trading volume of 71,562 shares, compared to its average volume of 1,191,448. The company has a fifty day moving average price of $12.64 and a two-hundred day moving average price of $12.92. The company has a current ratio of 1.07, a quick ratio of 1.38 and a debt-to-equity ratio of 1.01. Retail Opportunity Investments has a fifty-two week low of $10.98 and a fifty-two week high of $15.16. The company has a market cap of $1.59 billion, a P/E ratio of 41.20 and a beta of 1.42.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.21). Retail Opportunity Investments had a net margin of 11.21% and a return on equity of 2.75%. The business had revenue of $84.60 million during the quarter, compared to the consensus estimate of $81.09 million. During the same quarter in the previous year, the firm posted $0.27 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities research analysts expect that Retail Opportunity Investments will post 1.04 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 Wednesday, July 10th. Investors of record on Friday, June 14th will be issued a $0.15 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.60 dividend on an annualized basis and a yield of 4.81%. Retail Opportunity Investments’s dividend payout ratio is presently 200.00%.

Wall Street Analyst Weigh In

ROIC has been the subject of a number of research analyst reports. StockNews.com raised Retail Opportunity Investments from a sell rating to a hold rating in a research note on Wednesday, February 14th. Bank of America reaffirmed an underperform rating and set a $12.00 price objective (down from $14.50) on shares of Retail Opportunity Investments in a research report on Friday, April 5th. Finally, KeyCorp raised Retail Opportunity Investments from a sector weight rating to an overweight rating and set a $16.00 price objective for the company in a research report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Retail Opportunity Investments currently has an average rating of Hold and a consensus price target of $14.75.

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.