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

Retail Opportunity Investments (NASDAQ:ROIC) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.030-1.090 for the period, compared to the consensus 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 Price Performance

ROIC stock traded up $0.07 during trading on Friday, reaching $12.43. 131,841 shares of the company were exchanged, compared to its average volume of 1,192,250. The stock’s 50 day moving average price is $12.64 and its 200 day moving average price is $12.92. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.38 and a current ratio of 1.07. The company has a market cap of $1.58 billion, a P/E ratio of 41.20 and a beta of 1.42. Retail Opportunity Investments has a 52-week low of $10.98 and a 52-week high of $15.16.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.21). The business had revenue of $84.60 million for the quarter, compared to the consensus estimate of $81.09 million. Retail Opportunity Investments had a return on equity of 2.75% and a net margin of 11.21%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 earnings per share. As a group, analysts predict that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The company 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 dividend of $0.15 per share. 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 4.83%. Retail Opportunity Investments’s payout ratio is presently 200.00%.

Analyst Upgrades and Downgrades

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