Retail Opportunity Investments Corp. (NASDAQ: ROIC – Get an assessment) – KeyCorp equity research analysts raised their fiscal 2022 earnings estimates for Retail Opportunity Investments in a research note released Tuesday, September 27. KeyCorp analyst T. Thomas now expects the real estate investment trust to earn $1.10 per share for the year, up from its previous estimate of $1.09. Retail Opportunity Investments’ current annual earnings consensus estimate is $1.10 per share. KeyCorp also released estimates for Retail Opportunity Investments Q4 2022 earnings at $0.27 EPS, Q1 2023 earnings at $0.27 EPS, Q3 2023 earnings at $0.28 EPS, Q4 2023 at $0.28 EPS and earnings for fiscal year 2023 at $1.11 EPS.
Retail Opportunity Investments (NASDAQ: ROIC – Get an assessment) last reported quarterly earnings data on Tuesday, July 26. The real estate investment trust reported earnings per share (EPS) of $0.09 for the quarter, missing the consensus estimate of $0.26 per ($0.17). Retail Opportunity Investments posted a net margin of 17.65% and a return on equity of 3.85%. In the same quarter a year earlier, the company posted EPS of $0.25.
Other stock analysts have also published research reports on the stock. StockNews.com moved shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a Friday, August 5 research report. Jefferies Financial Group lowered its price target on shares of Retail Opportunity Investments from $20.00 to $15.00 in a Thursday, June 30 research report. Finally, Citigroup downgraded Retail Opportunity Investments shares from a “buy” rating to a “neutral” rating and lowered its price target for the stock from $19.00 to $17.00 in a research report Monday, September 19. One equity research analyst gave the stock a sell rating and three gave the stock a hold rating. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $17.00.
Retail Opportunity Investments Stock Performance
ROIC shares opened at $14.09 on Thursday. Retail Opportunity Investments has a 1-year low of $13.68 and a 1-year high of $20.09. The company has a debt ratio of 0.97, a quick ratio of 1.55 and a current ratio of 1.55. The company’s 50-day simple moving average is $16.77 and its 200-day simple moving average is $17.40. The company has a market capitalization of $1.75 billion, a price/earnings ratio of 33.55, a PEG ratio of 1.53 and a beta of 1.36.
Investments in retail opportunities increase the dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 7. Shareholders of record on Friday, September 16 will receive a dividend of $0.15. The ex-dividend date is Thursday, September 15. This represents an annualized dividend of $0.60 and a dividend yield of 4.26%. This is a positive change from Retail Opportunity Investments’ previous quarterly dividend of $0.13. Retail Opportunity Investments’ dividend payout ratio is currently 142.86%.
Institutional investors weigh on investment in retail opportunities
Several large investors have recently changed their positions in ROIC. Meeder Asset Management Inc. increased its position in Retail Opportunity Investments shares by 148.5% in the second quarter. Meeder Asset Management Inc. now owns 3,208 shares of the real estate investment trust worth $51,000 after acquiring 1,917 additional shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Retail Opportunity Investments during Q4 worth $52,000. KBC Group NV acquired a new stake in Retail Opportunity Investments during the 2nd quarter for a value of $159,000. The Bank of Nova Scotia acquired a new stake in Retail Opportunity Investments during Q2 valued at $179,000. Finally, M&T Bank Corp acquired a new stake in Retail Opportunity Investments during Q2 worth $199,000. Institutional investors and hedge funds own 96.44% of the company’s shares.
Retail Opportunity Investments Company Profile
Retail Opportunity Investments Corp. (NASDAQ: ROIC), is a fully integrated, self-managed real estate investment trust (REIT) specializing in the acquisition, ownership and management of grocery-anchored shopping centers located in densely populated metropolitan markets across the coast west. As of September 30, 2020, ROIC owned 88 shopping centers covering approximately 10.1 million square feet.
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