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

Retail Opportunity Investments Corp. (NASDAQ:ROIC) declared a quarterly dividend on Tuesday, July 23rd, Zacks reports. Investors 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 yield of 4.66%. 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% per year over the last three years. Retail Opportunity Investments has a payout ratio of 187.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Retail Opportunity Investments to earn $1.08 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 55.6%.

Retail Opportunity Investments Stock Down 4.5 %

Shares of NASDAQ:ROIC opened at $12.88 on Thursday. Retail Opportunity Investments has a 1 year low of $10.98 and a 1 year high of $15.16. The company has a market cap of $1.64 billion, a PE ratio of 42.93 and a beta of 1.45. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.07 and a quick ratio of 1.07. The stock’s 50-day moving average is $12.56 and its 200 day moving average is $12.82.

Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.19). Retail Opportunity Investments had a net margin of 10.40% and a return on equity of 2.56%. The business had revenue of $83.32 million for the quarter, compared to analysts’ expectations of $81.19 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts anticipate that Retail Opportunity Investments will post 1.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Bank of America restated an “underperform” rating and set a $12.00 price target (down previously from $14.50) on shares of Retail Opportunity Investments in a report on Friday, April 5th. Wells Fargo & Company reduced their target price on Retail Opportunity Investments from $14.00 to $13.50 and set an “equal weight” rating on the stock in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.38.

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.