Retail Opportunity Investments (NASDAQ:ROIC) Updates 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 1.030-1.090 for the period, compared to the consensus earnings per share 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 firms recently issued reports on ROIC. Bank of America reissued 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 raised shares of Retail Opportunity Investments from a sector weight rating to an overweight rating and set a $16.00 target price on the stock in a research report on Friday, January 5th. Finally, StockNews.com raised shares of Retail Opportunity Investments from a sell rating to a hold rating in a research report on Wednesday, February 14th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $14.75.

Retail Opportunity Investments Trading Up 1.0 %

ROIC stock traded up $0.13 during midday trading on Tuesday, reaching $12.53. 855,831 shares of the company’s stock traded hands, compared to its average volume of 1,210,918. The business has a 50-day moving average price of $12.67 and a two-hundred day moving average price of $12.92. 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 current ratio of 1.38 and a quick ratio of 1.38. The company has a market capitalization of $1.60 billion, a P/E ratio of 46.41 and a beta of 1.42.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly 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). 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 during the quarter, compared to the consensus estimate of $81.09 million. During the same quarter last year, the firm posted $0.27 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts forecast that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.60 annualized dividend and a yield of 4.79%. Retail Opportunity Investments’s payout ratio is 222.23%.

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.