Retail Opportunity Investments Corp. (NASDAQ: ROIC – Get Rating) – Equity researchers at KeyCorp raised their third-quarter 2022 earnings per share estimates for Retail Opportunity Investments shares in a report released Wednesday, April 27. KeyCorp analyst T. Thomas now expects the real estate investment trust to post earnings of $0.27 per share for the quarter, up from its previous forecast of $0.26. KeyCorp also released estimates for Retail Opportunity Investments Q4 2022 earnings at $0.28 EPS, fiscal year 2022 earnings at $1.09 EPS, Q4 2023 earnings at $0.30 EPS and FY2023 earnings at $1.16 EPS.
ROIC has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a Friday, March 4 research note. Wells Fargo & Company raised its price target on Retail Opportunity Investments stock from $17.00 to $19.00 and gave the stock an “underweight” rating in a Thursday, April 7 research note . TheStreet upgraded the shares of Retail Opportunity Investments from a “c+” rating to a “b-” rating in a Monday, April 25 research note. StockNews.com took over coverage of Retail Opportunity Investments stocks in a Thursday, March 31 research note. They have placed a “holding” rating on the stock. Finally, Capital One Financial reiterated an “equal weight” rating on Retail Opportunity Investments shares in a Monday, April 18 research note. One analyst has assigned the stock a sell rating, three have assigned a hold rating and one has assigned the company’s stock a buy rating. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.00.
ROIC stock opened at $18.63 on Monday. The company’s 50-day moving average price is $18.95 and its 200-day moving average price is $18.70. The company has a debt ratio of 0.95, a quick ratio of 1.46 and a current ratio of 1.58. Retail Opportunity Investments has a fifty-two week low of $16.47 and a fifty-two week high of $20.09. The company has a market capitalization of $2.29 billion, a price/earnings ratio of 39.64, a PEG ratio of 3.32 and a beta of 1.45.
Retail Opportunity Investments (NASDAQ: ROIC – Get Rating) last released its quarterly results on Monday, April 25. The real estate investment trust reported earnings per share (EPS) of $0.09 for the quarter, beating Thomson Reuters consensus estimate of $0.07 by $0.02. The company posted revenue of $75.04 million for the quarter, versus $73.21 million expected by analysts. Retail Opportunity Investments posted a net margin of 19.81% and a return on equity of 4.26%. The company’s quarterly revenue increased 8.9% year over year. In the same quarter of the previous year, the company had earned earnings per share of $0.24.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 8. Shareholders of record on Friday, June 17 will receive a dividend of $0.13 per share. This represents a dividend of $0.52 on an annualized basis and a yield of 2.79%. The ex-dividend date is Thursday, June 16. Retail Opportunity Investments’ dividend payout ratio is currently 110.64%.
Hedge funds have recently changed their holdings in the company. CWM LLC acquired a new position in Retail Opportunity Investments during Q4 worth $30,000. Point72 Hong Kong Ltd purchased a new stake in shares of Retail Opportunity Investments during Q4 for a value of $52,000. Acadian Asset Management LLC acquired a new stake in shares of Retail Opportunity Investments in the fourth quarter valued at $77,000. Van ECK Associates Corp increased its stake in Retail Opportunity Investments by 18.2% during the third quarter. Van ECK Associates Corp now owns 5,543 shares of the real estate investment trust worth $97,000 after buying 853 additional shares in the last quarter. Finally, LPL Financial LLC acquired a new stake in Retail Opportunity Investments during the third quarter at a value of $176,000. 97.47% of the shares are currently held by institutional investors and hedge funds.
About Investing in Retail Opportunities (Get an assessment)
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 coast west. As of September 30, 2020, ROIC owned 88 shopping centers covering approximately 10.1 million square feet.
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