Brokers Offer Predictions for ROIC FY2024 Earnings

Retail Opportunity Investments Corp. (NASDAQ:ROIC) – Research analysts at KeyCorp issued their FY2024 EPS estimates for shares of Retail Opportunity Investments in a report released on Monday, November 4th. KeyCorp analyst T. Thomas anticipates that the real estate investment trust will post earnings of $1.04 per share for the year. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Retail Opportunity Investments’ current full-year earnings is $1.04 per share. KeyCorp also issued estimates for Retail Opportunity Investments’ Q4 2024 earnings at $0.25 EPS and FY2025 earnings at $1.06 EPS.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. Retail Opportunity Investments’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 EPS.

A number of other research firms have also commented on ROIC. Robert W. Baird reaffirmed a “neutral” rating and set a $17.50 price objective (up from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday. Wells Fargo & Company upped their price target on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Raymond James cut shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Bank of America began coverage on Retail Opportunity Investments in a research report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 target price for the company. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.90.

Retail Opportunity Investments Trading Down 0.2 %

NASDAQ:ROIC opened at $17.32 on Thursday. The stock has a fifty day simple moving average of $15.71 and a 200 day simple moving average of $14.07. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 37.65 and a beta of 1.44. Retail Opportunity Investments has a 1-year low of $11.80 and a 1-year high of $17.40. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ROIC. Inspire Investing LLC raised its holdings in shares of Retail Opportunity Investments by 3.1% during the 1st quarter. Inspire Investing LLC now owns 28,070 shares of the real estate investment trust’s stock valued at $360,000 after purchasing an additional 856 shares in the last quarter. Arizona State Retirement System increased its position in Retail Opportunity Investments by 2.7% during the second quarter. Arizona State Retirement System now owns 35,555 shares of the real estate investment trust’s stock worth $442,000 after buying an additional 927 shares during the last quarter. Creative Planning raised its holdings in Retail Opportunity Investments by 6.7% during the third quarter. Creative Planning now owns 18,988 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 1,194 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Retail Opportunity Investments by 35.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,947 shares of the real estate investment trust’s stock worth $77,000 after buying an additional 1,289 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Retail Opportunity Investments by 7.4% during the 2nd quarter. Van ECK Associates Corp now owns 18,964 shares of the real estate investment trust’s stock worth $236,000 after acquiring an additional 1,307 shares in the last quarter. 97.16% of the stock is owned by institutional investors and hedge funds.

Retail Opportunity Investments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Friday, December 20th. Retail Opportunity Investments’s dividend payout ratio is currently 130.43%.

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.