Retail Opportunity Investments Corp. to Issue Quarterly Dividend of $0.15 (NASDAQ:ROIC)

Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced a quarterly dividend on Tuesday, July 23rd, Zacks reports. Stockholders of record on Friday, September 20th will be paid a dividend of 0.15 per share by the real estate investment trust on Friday, October 4th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Friday, September 20th.

Retail Opportunity Investments has raised its dividend payment by an average of 44.2% annually over the last three years. Retail Opportunity Investments has a payout ratio of 200.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Retail Opportunity Investments to earn $1.06 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 56.6%.

Retail Opportunity Investments Trading Down 0.6 %

NASDAQ ROIC opened at $15.72 on Thursday. 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 50-day moving average of $14.75 and a 200-day moving average of $13.27. The firm has a market cap of $2.00 billion, a PE ratio of 52.40, a price-to-earnings-growth ratio of 2.01 and a beta of 1.45. Retail Opportunity Investments has a 1-year low of $10.98 and a 1-year high of $16.20.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.19). The business had revenue of $83.32 million during the quarter, compared to the consensus estimate of $81.19 million. Retail Opportunity Investments had a return on equity of 2.57% and a net margin of 10.40%. Retail Opportunity Investments’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 earnings per share. As a group, sell-side analysts forecast that Retail Opportunity Investments will post 1.05 EPS for the current year.

Wall Street Analyst Weigh In

ROIC has been the topic of several research analyst reports. StockNews.com upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. Wells Fargo & Company lifted their price target on 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. Finally, Raymond James increased their price objective on Retail Opportunity Investments from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.