Retail Opportunity Investments Corp. (ROIC) To Go Ex-Dividend on June 14th

Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.15 per share by the real estate investment trust on Wednesday, July 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date is Friday, June 14th.

Retail Opportunity Investments has increased its dividend payment by an average of 44.2% annually over the last three years. Retail Opportunity Investments has a dividend payout ratio of 200.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Retail Opportunity Investments to earn $1.09 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 55.0%.

Retail Opportunity Investments Trading Down 1.2 %

NASDAQ:ROIC traded down $0.15 during mid-day trading on Thursday, hitting $12.25. 128,413 shares of the stock traded hands, compared to its average volume of 1,194,465. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 41.33 and a beta of 1.42. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.01. Retail Opportunity Investments has a 52 week low of $10.98 and a 52 week high of $15.16. The firm’s 50 day moving average is $12.65 and its two-hundred day moving average is $12.92.

Retail Opportunity Investments (NASDAQ:ROIC) last released 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). The company had revenue of $84.60 million during the quarter, compared to analysts’ expectations of $81.09 million. Retail Opportunity Investments had a net margin of 11.21% and a return on equity of 2.74%. Retail Opportunity Investments’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.27 earnings per share. On average, equities research analysts predict that Retail Opportunity Investments will post 1.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

ROIC has been the subject of several recent analyst reports. Bank of America restated an “underperform” rating and issued a $12.00 target price (down from $14.50) on shares of Retail Opportunity Investments in a research note on Friday, April 5th. 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. Finally, StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.