Retail Opportunity Investments Corp. (NASDAQ:ROIC) Plans $0.15 Quarterly Dividend

Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Friday, June 14th will be paid a dividend of 0.15 per share by the real estate investment trust on Wednesday, July 10th. This represents a $0.60 annualized dividend and a yield of 4.91%. 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 payout ratio of 200.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Stock Performance

ROIC traded down $0.19 on Thursday, reaching $12.21. The company had a trading volume of 53,449 shares, compared to its average volume of 1,193,734. 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 debt-to-equity ratio of 1.01, a quick ratio of 1.38 and a current ratio of 1.38. The company’s fifty day moving average is $12.65 and its 200 day moving average is $12.92. The stock has a market cap of $1.56 billion, a P/E ratio of 41.33 and a beta of 1.42.

Retail Opportunity Investments (NASDAQ:ROIC) last posted 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 2.74%. The company had revenue of $84.60 million for the quarter, compared to analyst estimates of $81.09 million. During the same quarter last year, the company earned $0.27 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. As a group, analysts predict that Retail Opportunity Investments will post 1.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ROIC shares. 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 note on Friday, January 5th. Bank of America reiterated an “underperform” rating and set a $12.00 price target (down previously from $14.50) on shares of Retail Opportunity Investments in a report on Friday, April 5th. Finally, StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. One equities 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $14.75.

About Retail Opportunity Investments

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.