Retail Opportunity Investments (NASDAQ:ROIC) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Retail Opportunity Investments (NASDAQ:ROIC) announced its earnings results on Tuesday. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01), Briefing.com reports. The company had revenue of $83.50 million during the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a return on equity of 4.33% and a net margin of 17.38%. Retail Opportunity Investments’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 earnings per share. Retail Opportunity Investments updated its FY 2024 guidance to 1.030-1.050 EPS.

Retail Opportunity Investments Trading Down 0.2 %

Retail Opportunity Investments stock opened at $15.86 on Friday. Retail Opportunity Investments has a 1 year low of $10.98 and a 1 year high of $16.27. The firm’s 50 day moving average price is $15.55 and its 200-day moving average price is $13.81. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market cap of $2.02 billion, a P/E ratio of 34.48, a PEG ratio of 2.08 and a beta of 1.45.

Retail Opportunity Investments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be paid a $0.15 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.60 annualized dividend and a yield of 3.78%. Retail Opportunity Investments’s payout ratio is 130.43%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Bank of America started coverage on Retail Opportunity Investments in a research note on Thursday. They issued an “underperform” rating and a $14.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Raymond James increased their price objective on shares of Retail Opportunity Investments from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Retail Opportunity Investments presently has an average rating of “Hold” and a consensus price target of $15.50.

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.