Retail Opportunity Investments Corp. (ROIC) To Go Ex-Dividend on December 20th

Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced a quarterly dividend on Tuesday, October 22nd, Zacks reports. Stockholders 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 dividend yield of 3.78%. The ex-dividend date of this dividend is Friday, December 20th.

Retail Opportunity Investments has increased its dividend payment by an average of 44.2% per year over the last three years. Retail Opportunity Investments has a dividend 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 Up 1.4 %

ROIC stock opened at $15.89 on Thursday. The firm has a market cap of $2.03 billion, a PE ratio of 52.97, a PEG ratio of 2.07 and a beta of 1.45. 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 firm’s 50 day moving average price is $15.54 and its 200-day moving average price is $13.79. Retail Opportunity Investments has a one year low of $10.98 and a one year high of $16.27.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm 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%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 EPS. On average, equities research analysts anticipate that Retail Opportunity Investments will post 1.05 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Bank of America assumed coverage on Retail Opportunity Investments in a research report on Thursday. They issued an “underperform” rating and a $14.00 target price on the stock. Raymond James boosted 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. Wells Fargo & Company boosted 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. Finally, StockNews.com raised 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, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $15.50.

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.