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 earnings per share guidance of $1.03-$1.09 for the period, compared to the consensus earnings per share estimate of $1.05. Retail Opportunity Investments also updated its FY 2024 guidance to 1.030-1.090 EPS.

Retail Opportunity Investments Trading Down 1.2 %

NASDAQ:ROIC traded down $0.15 during trading hours on Wednesday, reaching $12.38. The company’s stock had a trading volume of 493,055 shares, compared to its average volume of 1,201,441. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 46.19 and a beta of 1.42. The firm has a 50-day simple moving average of $12.66 and a 200-day simple moving average of $12.93. Retail Opportunity Investments has a 1 year low of $10.98 and a 1 year high of $15.16. 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 (NASDAQ:ROIC) last issued its earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.21). The business had revenue of $84.60 million during the quarter, compared to analysts’ expectations of $81.09 million. Retail Opportunity Investments had a return on equity of 2.53% and a net margin of 10.54%. Retail Opportunity Investments’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 EPS. Research analysts expect that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Retail Opportunity Investments Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date was Thursday, March 14th. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 222.23%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ROIC shares. StockNews.com raised shares of Retail Opportunity Investments from a sell rating to a hold rating in a report on Wednesday, February 14th. Bank of America reissued an underperform rating and issued a $12.00 price target (down previously from $14.50) on shares of Retail Opportunity Investments in a report on Friday, April 5th. Finally, 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 note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently 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.