Retail Opportunity Investments Corp. to Issue Quarterly Dividend of $0.15 (NASDAQ:ROIC)

Retail Opportunity Investments Corp. (NASDAQ:ROIC) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders 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 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date is Friday, June 14th.

Retail Opportunity Investments has increased its dividend payment by an average of 44.2% per year over the last three years. Retail Opportunity Investments has a payout ratio of 200.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Down 1.2 %

Shares of NASDAQ:ROIC traded down $0.15 during trading on Thursday, hitting $12.25. The company’s stock had a trading volume of 128,413 shares, compared to its average volume of 1,194,465. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.38 and a current 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 stock’s 50-day moving average price is $12.65 and its two-hundred day moving average price is $12.92. The company has a market capitalization of $1.56 billion, a PE ratio of 41.33 and a beta of 1.42.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.21). Retail Opportunity Investments had a return on equity of 2.74% and a net margin of 11.21%. The business had revenue of $84.60 million during the quarter, compared to analyst estimates of $81.09 million. During the same quarter last year, the firm posted $0.27 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts expect that Retail Opportunity Investments will post 1.04 EPS for the current year.

Wall Street Analyst Weigh In

ROIC has been the topic of several research reports. StockNews.com upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. KeyCorp raised Retail Opportunity Investments from a “sector weight” rating to an “overweight” rating and set a $16.00 target price on the stock in a report on Friday, January 5th. Finally, Bank of America reaffirmed an “underperform” rating and set a $12.00 target price (down previously from $14.50) on shares of Retail Opportunity Investments in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $14.75.

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.