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

Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced a quarterly dividend on Tuesday, July 23rd, Zacks reports. Investors of record on Friday, September 20th will be paid a dividend of 0.15 per share by the real estate investment trust on Friday, October 4th. This represents a $0.60 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend is Friday, September 20th.

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 187.5% indicating that 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 $1.08 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 55.6%.

Retail Opportunity Investments Stock Down 4.5 %

Shares of NASDAQ ROIC opened at $12.88 on Thursday. Retail Opportunity Investments has a 12-month low of $10.98 and a 12-month high of $15.16. The stock has a market cap of $1.64 billion, a PE ratio of 42.93 and a beta of 1.45. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average of $12.56 and a 200 day moving average of $12.82.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. 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 research note on Friday, April 5th. Wells Fargo & Company dropped their price target on shares of Retail Opportunity Investments from $14.00 to $13.50 and set an “equal weight” rating for the company in a research note on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $14.38.

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.