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 Stock Down 0.3 %

ROIC traded down $0.04 during midday trading on Thursday, reaching $12.36. 1,001,430 shares of the company were exchanged, compared to its average volume of 1,205,679. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 41.00 and a beta of 1.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.38 and a current ratio of 1.38. The company’s fifty day moving average price is $12.65 and its 200 day moving average price is $12.92. Retail Opportunity Investments has a one year low of $10.98 and a one year high of $15.16.

Retail Opportunity Investments (NASDAQ:ROIC) last released its earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.21). The business had revenue of $84.60 million during the quarter, compared to the consensus estimate of $81.09 million. Retail Opportunity Investments had a net margin of 11.21% and a return on equity of 2.74%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.27 earnings per share. As a group, analysts expect that Retail Opportunity Investments will post 1.04 EPS for the current year.

Retail Opportunity Investments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be paid a $0.15 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.60 annualized dividend and a yield of 4.85%. Retail Opportunity Investments’s payout ratio is 200.00%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. StockNews.com upgraded Retail Opportunity Investments from a sell rating to a hold rating in a research report on Wednesday, February 14th. Bank of America restated an underperform rating and set a $12.00 target price (down previously from $14.50) on shares of Retail Opportunity Investments in a research report on Friday, April 5th. Finally, KeyCorp upgraded 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 report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target 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.