What is KeyCorp’s Forecast for ROIC FY2024 Earnings?

Retail Opportunity Investments Corp. (NASDAQ:ROIC) – Equities researchers at KeyCorp issued their FY2024 EPS estimates for shares of Retail Opportunity Investments in a report released on Monday, November 4th. KeyCorp analyst T. Thomas forecasts that the real estate investment trust will post earnings per share of $1.04 for the year. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Retail Opportunity Investments’ current full-year earnings is $1.04 per share. KeyCorp also issued estimates for Retail Opportunity Investments’ Q4 2024 earnings at $0.25 EPS and FY2025 earnings at $1.06 EPS.

Several other equities analysts also recently commented on ROIC. Robert W. Baird restated a “neutral” rating and issued a $17.50 price target (up previously from $16.00) on shares of Retail Opportunity Investments in a research note on Thursday. Wells Fargo & Company boosted their price target on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Bank of America started coverage on shares of Retail Opportunity Investments in a research note on Thursday, October 24th. They set an “underperform” rating and a $14.00 target price for the company. BMO Capital Markets boosted their target price on shares of Retail Opportunity Investments from $17.00 to $17.50 and gave the stock a “market perform” rating in a research note on Friday. Finally, Raymond James downgraded shares of Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $16.17.

Retail Opportunity Investments Stock Performance

NASDAQ:ROIC opened at $17.33 on Thursday. The company has a fifty day simple moving average of $15.75 and a two-hundred day simple moving average of $14.11. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 37.67 and a beta of 1.44. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.04. Retail Opportunity Investments has a 52 week low of $11.80 and a 52 week high of $17.40.

Retail Opportunity Investments (NASDAQ:ROIC) last posted 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 business had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. Retail Opportunity Investments had a return on equity of 4.32% and a net margin of 17.38%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 EPS.

Institutional Investors Weigh In On Retail Opportunity Investments

A number of institutional investors and hedge funds have recently bought and sold shares of ROIC. First Trust Direct Indexing L.P. purchased a new stake in Retail Opportunity Investments in the first quarter valued at $129,000. BNP Paribas Financial Markets raised its holdings in shares of Retail Opportunity Investments by 65.4% in the first quarter. BNP Paribas Financial Markets now owns 80,788 shares of the real estate investment trust’s stock valued at $1,036,000 after buying an additional 31,958 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Retail Opportunity Investments by 6.8% in the first quarter. Daiwa Securities Group Inc. now owns 40,967 shares of the real estate investment trust’s stock valued at $525,000 after buying an additional 2,595 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Retail Opportunity Investments by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 110,276 shares of the real estate investment trust’s stock valued at $1,414,000 after buying an additional 1,476 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Retail Opportunity Investments in the first quarter valued at about $351,000. 97.16% of the stock is owned by hedge funds and other institutional investors.

Retail Opportunity Investments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.60 dividend on an annualized basis and a yield of 3.46%. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 130.43%.

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 December 31, 2023, ROIC owned 94 shopping centers encompassing approximately 10.6 million square feet.