Retail Opportunity Investments (NASDAQ:ROIC) Updates FY24 Earnings Guidance

Retail Opportunity Investments (NASDAQ:ROIC) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.04-$1.07 for the period, compared to the consensus EPS estimate of $1.05. Retail Opportunity Investments also updated its FY 2024 guidance to 1.040-1.070 EPS.

Retail Opportunity Investments Trading Up 0.4 %

NASDAQ ROIC traded up $0.05 during trading on Thursday, hitting $12.93. The stock had a trading volume of 340,776 shares, compared to its average volume of 1,043,691. Retail Opportunity Investments has a twelve month low of $10.98 and a twelve month high of $15.16. The company has a market capitalization of $1.65 billion, a PE ratio of 42.93 and a beta of 1.45. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.01. The firm has a 50 day moving average price of $12.56 and a 200 day moving average price of $12.82.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.19). Retail Opportunity Investments had a return on equity of 2.56% and a net margin of 10.40%. The business had revenue of $83.32 million for the quarter, compared to analysts’ expectations of $81.19 million. During the same quarter in the previous year, the firm earned $0.27 EPS. Retail Opportunity Investments’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities research analysts forecast that Retail Opportunity Investments will post 1.05 earnings per share for the current year.

Retail Opportunity Investments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.64%. The ex-dividend date is Friday, September 20th. Retail Opportunity Investments’s dividend payout ratio (DPR) is 200.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wells Fargo & Company reduced their target price on Retail Opportunity Investments from $14.00 to $13.50 and set an equal weight rating on the stock in a research report on Tuesday, May 28th. Bank of America restated an underperform rating and set a $12.00 price objective (down from $14.50) on shares of Retail Opportunity Investments in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Retail Opportunity Investments currently has a consensus rating of Hold and a consensus target price of $14.38.

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.