Retail Opportunity Investments (NASDAQ:ROIC) issued an update on its FY 2018 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.13-1.15 for the period.
Shares of ROIC traded down $0.03 during midday trading on Tuesday, hitting $17.84. 520,366 shares of the company traded hands, compared to its average volume of 1,097,969. Retail Opportunity Investments has a one year low of $16.17 and a one year high of $20.14. The stock has a market cap of $2.05 billion, a PE ratio of 15.65, a P/E/G ratio of 2.56 and a beta of 0.55. The company has a quick ratio of 3.74, a current ratio of 3.74 and a debt-to-equity ratio of 1.17.
Retail Opportunity Investments (NASDAQ:ROIC) last announced its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.23). Retail Opportunity Investments had a net margin of 13.23% and a return on equity of 2.90%. The company had revenue of $72.34 million for the quarter, compared to the consensus estimate of $73.23 million. During the same quarter in the prior year, the company earned $0.27 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Analysts expect that Retail Opportunity Investments will post 1.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 27th. Stockholders of record on Thursday, September 13th were given a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 4.37%. The ex-dividend date was Wednesday, September 12th. Retail Opportunity Investments’s dividend payout ratio is presently 68.42%.
Several research analysts have recently commented on ROIC shares. Zacks Investment Research raised Retail Opportunity Investments from a sell rating to a hold rating in a report on Saturday, September 22nd. BMO Capital Markets started coverage on Retail Opportunity Investments in a report on Tuesday, September 18th. They set a hold rating and a $20.00 price objective for the company. BidaskClub lowered Retail Opportunity Investments from a hold rating to a sell rating in a report on Friday, September 21st. ValuEngine raised Retail Opportunity Investments from a sell rating to a hold rating in a report on Sunday, September 30th. Finally, Capital One Financial lowered Retail Opportunity Investments from an overweight rating to an equal weight rating in a report on Thursday, July 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $19.21.
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 June 30, 2018, ROIC owned 92 shopping centers encompassing approximately 10.6 million square feet.
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