Retail Opportunity Investments Corp. (NASDAQ:ROIC) Expected to Earn Q3 2023 Earnings of $0.28 Per Share

Retail Opportunity Investments Corp. (NASDAQ:ROICGet Rating) – Research analysts at Jefferies Financial Group dropped their Q3 2023 earnings estimates for shares of Retail Opportunity Investments in a research report issued on Thursday, April 14th. Jefferies Financial Group analyst L. Tsai now anticipates that the real estate investment trust will post earnings of $0.28 per share for the quarter, down from their previous estimate of $0.29. Jefferies Financial Group also issued estimates for Retail Opportunity Investments’ Q4 2023 earnings at $0.28 EPS and FY2023 earnings at $1.12 EPS.

Retail Opportunity Investments (NASDAQ:ROICGet Rating) last released its quarterly earnings data on Tuesday, February 15th. The real estate investment trust reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. Retail Opportunity Investments had a return on equity of 4.01% and a net margin of 18.83%. The firm had revenue of $72.80 million for the quarter, compared to analysts’ expectations of $71.53 million. During the same period in the prior year, the firm posted $0.27 earnings per share. The firm’s quarterly revenue was down .2% on a year-over-year basis.

Other research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Friday, March 4th. initiated coverage on Retail Opportunity Investments in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Wells Fargo & Company upped their price target on Retail Opportunity Investments from $17.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, April 7th.

NASDAQ:ROIC opened at $19.46 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.97. The stock’s fifty day moving average is $18.69 and its two-hundred day moving average is $18.58. Retail Opportunity Investments has a 52 week low of $16.47 and a 52 week high of $20.09. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 44.23, a price-to-earnings-growth ratio of 3.32 and a beta of 1.45.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 8th. Stockholders of record on Friday, March 18th were paid a $0.13 dividend. This is a boost from Retail Opportunity Investments’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Thursday, March 17th. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 118.18%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC purchased a new position in Retail Opportunity Investments in the fourth quarter valued at $30,000. Point72 Hong Kong Ltd acquired a new stake in Retail Opportunity Investments in the fourth quarter valued at $52,000. Acadian Asset Management LLC acquired a new stake in Retail Opportunity Investments in the fourth quarter valued at $77,000. Van ECK Associates Corp raised its stake in Retail Opportunity Investments by 18.2% in the third quarter. Van ECK Associates Corp now owns 5,543 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 853 shares in the last quarter. Finally, LPL Financial LLC acquired a new stake in Retail Opportunity Investments in the third quarter valued at $176,000. Institutional investors and hedge funds own 97.47% of the company’s stock.

Retail Opportunity Investments Company Profile (Get Rating)

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 September 30, 2020, ROIC owned 88 shopping centers encompassing approximately 10.1 million square feet.

See Also

Earnings History and Estimates for Retail Opportunity Investments (NASDAQ:ROIC)

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