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.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Bank of America reaffirmed an underperform rating and issued a $12.00 target price (down from $14.50) on shares of Retail Opportunity Investments in a research report on Friday, April 5th. KeyCorp upgraded Retail Opportunity Investments from a sector weight rating to an overweight rating and set a $16.00 price objective on the stock in a report on Friday, January 5th. Finally, StockNews.com upgraded 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 given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Retail Opportunity Investments has an average rating of Hold and a consensus price target of $14.75.

Retail Opportunity Investments Stock Down 0.3 %

NASDAQ ROIC traded down $0.04 during trading hours on Thursday, hitting $12.36. The company had a trading volume of 1,001,430 shares, compared to its average volume of 1,205,679. The firm’s 50 day moving average is $12.65 and its 200 day moving average is $12.92. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.38 and a quick ratio of 1.38. 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 market capitalization of $1.58 billion, a price-to-earnings ratio of 41.00 and a beta of 1.42.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.21). The company had revenue of $84.60 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 EPS. Sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, June 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.85%. Retail Opportunity Investments’s payout ratio is currently 200.00%.

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.