Retail Opportunity Investments (ROIC) to Release Quarterly Earnings on Tuesday

Retail Opportunity Investments (NASDAQ:ROIC) is scheduled to be announcing its earnings results after the market closes on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.26 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.21). The company had revenue of $84.60 million for the quarter, compared to the consensus estimate of $81.09 million. Retail Opportunity Investments had a return on equity of 2.53% and a net margin of 10.54%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.27 EPS. 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 Stock Up 1.6 %

Shares of Retail Opportunity Investments stock opened at $12.28 on Friday. The stock has a market capitalization of $1.57 billion, a P/E ratio of 45.48 and a beta of 1.42. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.01. The stock has a 50 day moving average price of $12.69 and a two-hundred day moving average price of $12.90. Retail Opportunity Investments has a 12-month low of $10.98 and a 12-month high of $15.16.

Retail Opportunity Investments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 4.89%. Retail Opportunity Investments’s payout ratio is currently 222.23%.

Institutional Investors Weigh In On Retail Opportunity Investments

Hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in Retail Opportunity Investments by 1.4% in the second quarter. BlackRock Inc. now owns 23,625,018 shares of the real estate investment trust’s stock worth $319,174,000 after purchasing an additional 330,055 shares during the period. Vanguard Group Inc. lifted its position in Retail Opportunity Investments by 1.9% in the third quarter. Vanguard Group Inc. now owns 19,702,232 shares of the real estate investment trust’s stock worth $271,103,000 after purchasing an additional 366,091 shares during the period. State Street Corp lifted its position in Retail Opportunity Investments by 1.8% in the second quarter. State Street Corp now owns 7,517,150 shares of the real estate investment trust’s stock worth $119,552,000 after purchasing an additional 134,483 shares during the period. Federated Hermes Inc. raised its stake in Retail Opportunity Investments by 10.7% during the first quarter. Federated Hermes Inc. now owns 3,222,421 shares of the real estate investment trust’s stock worth $62,483,000 after acquiring an additional 312,668 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Retail Opportunity Investments by 4.7% during the second quarter. Geode Capital Management LLC now owns 2,841,372 shares of the real estate investment trust’s stock worth $38,387,000 after acquiring an additional 127,620 shares in the last quarter. 97.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ROIC shares. KeyCorp raised Retail Opportunity Investments from a “sector weight” rating to an “overweight” rating and set a $16.00 target price for the company in a research report on Friday, January 5th. StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, Bank of America reissued an “underperform” rating and issued a $12.00 price objective (down from $14.50) on shares of Retail Opportunity Investments in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.