Retail Opportunity Investments (NASDAQ:ROIC) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Retail Opportunity Investments (NASDAQ:ROICGet Rating) posted its quarterly earnings results on Monday. The real estate investment trust reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02, MarketWatch Earnings reports. The company had revenue of $75.04 million for the quarter, compared to the consensus estimate of $73.21 million. Retail Opportunity Investments had a return on equity of 4.01% and a net margin of 18.83%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 EPS. Retail Opportunity Investments updated its FY 2022 guidance to $1.040-$1.100 EPS and its FY22 guidance to $1.04-1.10 EPS.

NASDAQ ROIC opened at $19.59 on Tuesday. The business’s fifty day moving average price is $18.87 and its 200-day moving average price is $18.67. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 44.52, a PEG ratio of 3.34 and a beta of 1.45. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.46 and a quick ratio of 1.46. Retail Opportunity Investments has a 1-year low of $16.47 and a 1-year high of $20.09.

The company also recently declared a quarterly dividend, which was paid on Friday, April 8th. Stockholders of record on Friday, March 18th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.65%. This is a boost from Retail Opportunity Investments’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Thursday, March 17th. Retail Opportunity Investments’s dividend payout ratio is presently 118.18%.

ROIC has been the topic of several recent analyst reports. StockNews.com initiated coverage on Retail Opportunity Investments in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Friday, March 4th. Wells Fargo & Company increased their target price on Retail Opportunity Investments from $17.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, April 7th. Finally, Capital One Financial reiterated an “equal weight” rating on shares of Retail Opportunity Investments in a research note on Monday, April 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.00.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROIC. LPL Financial LLC bought a new position in shares of Retail Opportunity Investments during the 3rd quarter valued at $176,000. Janus Henderson Group PLC bought a new position in Retail Opportunity Investments in the 3rd quarter worth $208,000. Allstate Corp raised its holdings in Retail Opportunity Investments by 95.5% in the 4th quarter. Allstate Corp now owns 62,384 shares of the real estate investment trust’s stock worth $1,223,000 after purchasing an additional 30,469 shares during the period. State of Tennessee Treasury Department increased its stake in Retail Opportunity Investments by 1.1% in the 4th quarter. State of Tennessee Treasury Department now owns 69,016 shares of the real estate investment trust’s stock worth $1,353,000 after buying an additional 723 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Retail Opportunity Investments in the 4th quarter worth $1,502,000. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

About Retail Opportunity Investments (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.

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Earnings History for Retail Opportunity Investments (NASDAQ:ROIC)

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