Retail Opportunity Investments Corp. (ROIC) to Issue Quarterly Dividend of $0.15 on January 10th

Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced a quarterly dividend on Tuesday, October 22nd,Zacks Dividends reports. Shareholders of record on Friday, December 20th will be paid a dividend of 0.15 per share by the real estate investment trust on Friday, January 10th. This represents a $0.60 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Friday, December 20th.

Retail Opportunity Investments has raised its dividend payment by an average of 44.2% annually over the last three years. Retail Opportunity Investments has a dividend payout ratio of 214.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Retail Opportunity Investments to earn $1.05 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 57.1%.

Retail Opportunity Investments Price Performance

Shares of ROIC opened at $17.45 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market capitalization of $2.24 billion, a PE ratio of 37.93 and a beta of 1.47. The stock has a 50 day simple moving average of $16.73 and a 200 day simple moving average of $15.05. Retail Opportunity Investments has a 52-week low of $11.87 and a 52-week high of $17.52.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.27 EPS. Sell-side analysts predict that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Bank of America initiated coverage on Retail Opportunity Investments in a research report on Thursday, October 24th. They set an “underperform” rating and a $14.00 price objective for the company. Raymond James downgraded Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. StockNews.com initiated coverage on shares of Retail Opportunity Investments in a report on Thursday, December 12th. They issued a “hold” rating on the stock. BMO Capital Markets raised their target price on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the company a “market perform” rating in a research report on Friday, November 8th. Finally, Baird R W cut shares of Retail Opportunity Investments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $16.17.

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.