Retail Opportunity Investments (NASDAQ:ROIC) Releases Earnings Results, Misses Estimates By $0.01 EPS

Retail Opportunity Investments (NASDAQ:ROIC) released its quarterly earnings data on Tuesday. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01), Briefing.com reports. Retail Opportunity Investments had a return on equity of 2.57% and a net margin of 10.40%. The firm had revenue of $83.50 million for the quarter, compared to analyst estimates of $82.13 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Retail Opportunity Investments updated its FY 2024 guidance to 1.030-1.050 EPS.

Retail Opportunity Investments Trading Up 1.4 %

ROIC stock opened at $15.89 on Thursday. Retail Opportunity Investments has a 52 week low of $10.98 and a 52 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. The company’s 50-day simple moving average is $15.54 and its 200 day simple moving average is $13.79. The company has a market capitalization of $2.03 billion, a PE ratio of 52.97, a price-to-earnings-growth ratio of 2.07 and a beta of 1.45.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wells Fargo & Company upped their price objective 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 upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Raymond James lifted their price objective on shares of Retail Opportunity Investments from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Retail Opportunity Investments currently has an average rating of “Hold” and an average price target of $15.00.

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.