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

Retail Opportunity Investments Corp. (NASDAQ:ROIC - Get Free Report) declared a quarterly dividend on Tuesday, October 22nd, Zacks reports. Investors of record on Friday, December 20th will be given a dividend of 0.15 per share by the real estate investment trust on Friday, January 10th. This represents a $0.60 annualized dividend and a yield of 3.78%. The ex-dividend date is Friday, December 20th.

Retail Opportunity Investments has increased its dividend 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 Stock Performance

NASDAQ ROIC traded down $0.03 on Thursday, hitting $15.86. 1,223,048 shares of the company traded hands, compared to its average volume of 1,084,458. 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 business's 50 day moving average price is $15.54 and its 200-day moving average price is $13.79. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 52.97, a P/E/G ratio of 2.07 and a beta of 1.45. Retail Opportunity Investments has a 52-week low of $10.98 and a 52-week high of $16.27.

Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). Retail Opportunity Investments had a net margin of 10.40% and a return on equity of 2.57%. The business had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. During the same period in the prior year, the business earned $0.27 earnings per share. Retail Opportunity Investments's revenue was up 2.5% compared to the same quarter last year. Equities analysts expect that Retail Opportunity Investments will post 1.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Raymond James boosted their price objective on Retail Opportunity Investments from $15.00 to $16.00 and gave the stock an "outperform" rating in a research note on Friday, August 16th. Wells Fargo & Company upped their target price on Retail Opportunity Investments from $13.50 to $16.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 28th. StockNews.com raised Retail Opportunity Investments from a "sell" rating to a "hold" rating in a research note on Monday, August 19th. Finally, Bank of America began coverage on Retail Opportunity Investments in a research note on Thursday. They set an "underperform" rating and a $14.00 target price on the stock. One 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.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $15.50.

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.