FY2024 Earnings Forecast for ROIC Issued By KeyCorp

Retail Opportunity Investments Corp. (NASDAQ:ROIC - Free Report) - Analysts at KeyCorp issued their FY2024 earnings estimates for Retail Opportunity Investments in a research report issued to clients and investors on Monday, November 4th. KeyCorp analyst T. Thomas expects that the real estate investment trust will post earnings per share of $1.04 for the year. KeyCorp 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). The firm 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%. The business's revenue was up 2.5% compared to the same quarter last year. During the same period last year, the business earned $0.27 earnings per share.

A number of other analysts have also weighed in on ROIC. Wells Fargo & Company raised their target price 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. Bank of America initiated coverage on shares of Retail Opportunity Investments in a research report on Thursday, October 24th. They issued an "underperform" rating and a $14.00 target price on the stock. Robert W. Baird restated a "neutral" rating and issued a $17.50 target price (up previously from $16.00) on shares of Retail Opportunity Investments in a research report on Thursday. Raymond James lowered shares of Retail Opportunity Investments from an "outperform" rating to a "market perform" rating in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Retail Opportunity Investments from a "sell" rating to a "hold" rating in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $15.90.

Retail Opportunity Investments Price Performance

NASDAQ:ROIC traded down $0.03 during mid-day trading on Thursday, reaching $17.32. The stock had a trading volume of 10,783,201 shares, compared to its average volume of 1,279,146. The stock has a 50-day simple moving average of $15.67 and a two-hundred day simple moving average of $14.05. The stock has a market capitalization of $2.23 billion, a PE ratio of 37.78 and a beta of 1.44. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. Retail Opportunity Investments has a 12 month low of $11.80 and a 12 month high of $17.40.

Retail Opportunity Investments Dividend Announcement

The firm 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. The ex-dividend date is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.46%. Retail Opportunity Investments's dividend payout ratio (DPR) is presently 130.43%.

Hedge Funds Weigh In On Retail Opportunity Investments

A number of hedge funds have recently modified their holdings of ROIC. International Assets Investment Management LLC lifted its holdings in shares of Retail Opportunity Investments by 1,473.1% during the third quarter. International Assets Investment Management LLC now owns 1,872 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 1,753 shares during the period. Allworth Financial LP lifted its holdings in shares of Retail Opportunity Investments by 4,320.3% during the third quarter. Allworth Financial LP now owns 3,271 shares of the real estate investment trust's stock worth $51,000 after purchasing an additional 3,197 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 valued at $77,000 after buying an additional 1,289 shares during the period. Meeder Asset Management Inc. acquired a new position in Retail Opportunity Investments in the second quarter valued at $82,000. Finally, Point72 DIFC Ltd lifted its holdings in Retail Opportunity Investments by 71.8% in the second quarter. Point72 DIFC Ltd now owns 7,523 shares of the real estate investment trust's stock valued at $94,000 after buying an additional 3,145 shares during the period. Institutional investors and hedge funds own 97.16% of the company's stock.

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.