Retail Opportunity Investments (NASDAQ:ROIC - Get Free Report) released its earnings results on Tuesday. The real estate investment trust reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01), Briefing.com reports. The company had revenue of $83.50 million for the quarter, compared to the consensus estimate of $82.13 million. Retail Opportunity Investments had a net margin of 10.40% and a return on equity of 2.57%. The business's revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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 Retail Opportunity Investments stock traded up $0.22 during trading on Wednesday, reaching $15.89. 1,076,221 shares of the company's stock were exchanged, compared to its average volume of 1,083,782. 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 1-year low of $10.98 and a 1-year high of $16.27. The company has a market cap of $2.03 billion, a P/E ratio of 52.23, a PEG ratio of 2.07 and a beta of 1.45. The firm's 50-day moving average price is $15.52 and its 200 day moving average price is $13.78.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on ROIC shares. StockNews.com upgraded Retail Opportunity Investments from a "sell" rating to a "hold" rating in a research report on Monday, August 19th. Raymond James upped their target price on Retail Opportunity Investments from $15.00 to $16.00 and gave the company an "outperform" rating in a research report on Friday, August 16th. Finally, 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 report on Wednesday, August 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $15.00.
Check Out Our Latest Stock Report on ROIC
About Retail Opportunity Investments
(
Get Free Report)
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.
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