Retail Opportunity Investments (NASDAQ:ROIC) Posts Earnings Results

Retail Opportunity Investments (NASDAQ:ROIC) released its earnings results on Tuesday. 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), Briefing.com reports. The firm had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a net margin of 10.40% and a return on equity of 2.57%. Retail Opportunity Investments’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 earnings per share. Retail Opportunity Investments updated its FY 2024 guidance to 1.030-1.050 EPS.

Retail Opportunity Investments Price Performance

Shares of ROIC opened at $15.67 on Wednesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.38 and a current ratio of 1.38. Retail Opportunity Investments has a fifty-two week low of $10.98 and a fifty-two week high of $16.27. The firm has a 50-day simple moving average of $15.52 and a 200-day simple moving average of $13.78. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 52.23, a price-to-earnings-growth ratio of 2.07 and a beta of 1.45.

Analyst Upgrades and Downgrades

ROIC has been the topic of several recent research reports. StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Monday, August 19th. Wells Fargo & Company lifted their price objective on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Finally, Raymond James lifted their price target on Retail Opportunity Investments from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. One research 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.com, Retail Opportunity Investments currently has a consensus rating of “Hold” and a consensus price target of $15.00.

About Retail Opportunity Investments

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.