Retail Opportunity Investments (NASDAQ:ROIC) Posts Earnings Results, Misses Estimates By $0.01 EPS

Retail Opportunity Investments (NASDAQ:ROIC) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01), Briefing.com reports. Retail Opportunity Investments had a return on equity of 2.57% and a net margin of 10.40%. The business had revenue of $83.50 million during the quarter, compared to analysts’ expectations of $82.13 million. During the same quarter last year, the business posted $0.27 EPS. The company’s quarterly revenue was up 2.5% on a year-over-year basis. Retail Opportunity Investments updated its FY 2024 guidance to 1.030-1.050 EPS.

Retail Opportunity Investments Stock Down 0.3 %

Shares of Retail Opportunity Investments stock opened at $15.67 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.07. Retail Opportunity Investments has a 12-month low of $10.98 and a 12-month high of $16.27. The company has a market cap of $2.00 billion, a P/E ratio of 52.23, a PEG ratio of 2.07 and a beta of 1.45. The company’s fifty day simple moving average is $15.52 and its two-hundred day simple moving average is $13.78.

Analyst Upgrades and Downgrades

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

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.