Retail Opportunity Investments (NASDAQ:ROIC) Releases FY 2024 Earnings Guidance

Retail Opportunity Investments (NASDAQ:ROIC) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.040-1.070 for the period, compared to the consensus estimate of 1.050. The company issued revenue guidance of -. Retail Opportunity Investments also updated its FY24 guidance to $1.04-$1.07 EPS.

Retail Opportunity Investments Price Performance

Shares of NASDAQ ROIC traded up $0.10 during trading on Friday, hitting $12.72. 174,804 shares of the company were exchanged, compared to its average volume of 1,047,826. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 42.07 and a beta of 1.45. Retail Opportunity Investments has a 1 year low of $10.98 and a 1 year high of $15.16. The firm’s fifty day moving average price is $12.56 and its 200 day moving average price is $12.82. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.48 and a quick ratio of 1.07.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.19). Retail Opportunity Investments had a net margin of 10.40% and a return on equity of 2.57%. The company had revenue of $83.32 million for the quarter, compared to analyst estimates of $81.19 million. During the same period in the prior year, the company earned $0.27 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts expect that Retail Opportunity Investments will post 1.05 earnings per share for the current fiscal year.

Retail Opportunity Investments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend is Friday, September 20th. Retail Opportunity Investments’s payout ratio is currently 200.00%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Bank of America reiterated 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. Wells Fargo & Company decreased their price target on Retail Opportunity Investments from $14.00 to $13.50 and set an equal weight rating for the company in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price 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.