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

Retail Opportunity Investments (NASDAQ:ROIC) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 1.030-1.050 for the period, compared to the consensus earnings per share estimate of 1.050. The company issued revenue guidance of -.

Analysts Set New Price Targets

A number of research firms recently weighed in on ROIC. StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. Raymond James increased their target price on Retail Opportunity Investments from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Finally, Wells Fargo & Company raised their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.00.

Retail Opportunity Investments Price Performance

Shares of ROIC traded up $0.10 during mid-day trading on Wednesday, hitting $15.77. 149,865 shares of the company traded hands, compared to its average volume of 1,079,263. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average of $15.52 and a 200 day moving average of $13.78. Retail Opportunity Investments has a one year low of $10.98 and a one year high of $16.27. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 52.23, a PEG ratio of 2.07 and a beta of 1.45.

Retail Opportunity Investments (NASDAQ:ROIC) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a net margin of 10.40% and a return on equity of 2.57%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the business posted $0.27 earnings per share. As a group, equities analysts expect that Retail Opportunity Investments will post 1.05 earnings per share for the current fiscal year.

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.