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

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

Analysts Set New Price Targets

Several research analysts recently weighed in on ROIC shares. StockNews.com upgraded Retail Opportunity Investments from a sell rating to a hold rating in a research report on Wednesday, February 14th. KeyCorp upgraded 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 restated an underperform rating and set a $12.00 price target (down from $14.50) on shares of Retail Opportunity Investments in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Retail Opportunity Investments presently has an average rating of Hold and an average target price of $14.75.

Retail Opportunity Investments Stock Performance

ROIC traded up $0.13 during trading on Tuesday, reaching $12.53. The company’s stock had a trading volume of 855,831 shares, compared to its average volume of 1,210,918. The company’s fifty day moving average price is $12.67 and its 200-day moving average price is $12.92. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 46.41 and a beta of 1.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.38 and a current ratio of 1.38. 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 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 return on equity of 2.53% and a net margin of 10.54%. The company 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 company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities analysts forecast that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.60 annualized dividend and a yield of 4.79%. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 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.