Retail Opportunity Investments (NASDAQ:ROIC) issued its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $0.29 earnings per share for the quarter, hitting the consensus estimate of $0.29, Briefing.com reports. Retail Opportunity Investments had a return on equity of 3.46% and a net margin of 15.22%. The firm had revenue of $76.05 million for the quarter, compared to the consensus estimate of $75.31 million. During the same period in the prior year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Retail Opportunity Investments updated its FY 2019 guidance to $1.11-1.15 EPS and its FY19 guidance to $1.11-1.15 EPS.
ROIC opened at $17.54 on Friday. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 3.65 and a beta of 0.72. Retail Opportunity Investments has a 52 week low of $15.44 and a 52 week high of $19.80. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 1.14.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be issued a dividend of $0.197 per share. The ex-dividend date is Wednesday, June 12th. This represents a $0.79 annualized dividend and a yield of 4.49%. Retail Opportunity Investments’s payout ratio is currently 69.30%.
ROIC has been the topic of several recent analyst reports. BMO Capital Markets reiterated a “hold” rating and issued a $18.00 price target on shares of Retail Opportunity Investments in a report on Tuesday, February 19th. BidaskClub upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Finally, Zacks Investment Research upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $18.00.
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 March 31, 2019, ROIC owned 90 shopping centers encompassing approximately 10.3 million square feet.
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