Retail Opportunity Investments (NASDAQ:ROIC) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS

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 business had revenue of $83.50 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 earnings per share. Retail Opportunity Investments updated its FY 2024 guidance to 1.030-1.050 EPS.

Retail Opportunity Investments Stock Down 0.3 %

ROIC stock opened at $15.67 on Wednesday. The business’s 50-day moving average is $15.52 and its two-hundred day moving average is $13.78. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 52.23, a P/E/G ratio of 2.07 and a beta of 1.45. Retail Opportunity Investments has a fifty-two week low of $10.98 and a fifty-two week high of $16.27. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.38 and a current ratio of 1.38.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Raymond James raised their price target on Retail Opportunity Investments from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Wells Fargo & Company raised 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 research note on Wednesday, August 28th. Finally, StockNews.com raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. 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 stock. According to MarketBeat.com, Retail Opportunity Investments has an average rating of “Hold” and an average 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.