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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Retail Opportunity Investments from a sell rating to a hold rating in a research report on Wednesday, February 14th. KeyCorp upgraded shares of Retail Opportunity Investments from a sector weight rating to an overweight rating and set a $16.00 price target for the company in a research report on Friday, January 5th. Finally, Bank of America reiterated an underperform rating and issued a $12.00 price target (down from $14.50) on shares of Retail Opportunity Investments in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Retail Opportunity Investments currently has an average rating of Hold and an average price target of $14.75.

Retail Opportunity Investments Price Performance

ROIC traded down $0.15 during trading on Wednesday, hitting $12.38. 493,055 shares of the stock traded hands, compared to its average volume of 1,201,441. Retail Opportunity Investments has a twelve month low of $10.98 and a twelve month high of $15.16. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 46.19 and a beta of 1.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.38 and a quick ratio of 1.38. The business has a 50 day moving average price of $12.66 and a 200 day moving average price of $12.93.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.06 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.21). Retail Opportunity Investments had a net margin of 10.54% and a return on equity of 2.53%. The firm had revenue of $84.60 million for the quarter, compared to analyst estimates of $81.09 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities research 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 disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.60 annualized dividend and a yield of 4.85%. Retail Opportunity Investments’s dividend payout ratio is currently 222.23%.

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.