Retail Opportunity Investments (ROIC) Set to Announce Quarterly Earnings on Tuesday

Retail Opportunity Investments (NASDAQ:ROIC) is scheduled to be announcing its earnings results after the market closes on Tuesday, October 22nd. Analysts expect the company to announce earnings of $0.26 per share for the quarter. Retail Opportunity Investments has set its FY24 guidance at $1.04-$1.07 EPS and its FY 2024 guidance at 1.040-1.070 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.06 earnings per share 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 2.57%. The firm had revenue of $83.32 million for the quarter, compared to analyst estimates of $81.19 million. During the same period in the previous year, the firm posted $0.27 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. On average, analysts expect Retail Opportunity Investments to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Retail Opportunity Investments Price Performance

Retail Opportunity Investments stock opened at $16.16 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.07. The stock has a market cap of $2.06 billion, a P/E ratio of 53.87, a PEG ratio of 2.07 and a beta of 1.45. The company has a 50-day moving average price of $15.50 and a 200 day moving average price of $13.72. Retail Opportunity Investments has a 12-month low of $10.98 and a 12-month high of $16.27.

Retail Opportunity Investments Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 20th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.71%. Retail Opportunity Investments’s dividend payout ratio is currently 200.00%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ROIC. Wells Fargo & Company raised their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. Finally, Raymond James increased their target price on shares of Retail Opportunity Investments from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. One equities research 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $15.00.

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.