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Retail Opportunity Investments

Nasdaq:ROIC
Snowflake Description

6 star dividend payer with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ROIC
Nasdaq
$2B
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

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. The last earnings update was 24 days ago. More info.


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ROIC Share Price and Events
7 Day Returns
-2.9%
NasdaqGS:ROIC
1.4%
US REITs
0.5%
US Market
1 Year Returns
1.3%
NasdaqGS:ROIC
15.7%
US REITs
16.1%
US Market
ROIC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Retail Opportunity Investments (ROIC) -2.9% -6.3% 2% 1.3% -14.1% 8%
US REITs 1.4% -2.3% 1.9% 15.7% 22.8% 23.5%
US Market 0.5% 3.9% 6.6% 16.1% 37.7% 43.7%
1 Year Return vs Industry and Market
  • ROIC underperformed the REITs industry which returned 15.7% over the past year.
  • ROIC underperformed the Market in United States of America which returned 16.1% over the past year.
Price Volatility
ROIC
Industry
5yr Volatility vs Market

ROIC Value

 Is Retail Opportunity Investments undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Retail Opportunity Investments to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Retail Opportunity Investments.

NasdaqGS:ROIC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:ROIC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.468 (1 + (1- 21%) (62.63%))
0.799
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for NasdaqGS:ROIC using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

NasdaqGS:ROIC Discount to Share Price
Calculation Result
Value per share (USD) From above. $22.53
Current discount Discount to share price of $17.78
= -1 x ($17.78 - $22.53) / $22.53
21.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Retail Opportunity Investments is available for.
Intrinsic value
21%
Share price is $17.78 vs Future cash flow value of $22.53
Current Discount Checks
For Retail Opportunity Investments to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Retail Opportunity Investments's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Retail Opportunity Investments's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Retail Opportunity Investments's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Retail Opportunity Investments's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:ROIC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in USD $0.43
NasdaqGS:ROIC Share Price ** NasdaqGS (2019-11-21) in USD $17.78
United States of America REITs Industry PE Ratio Median Figure of 144 Publicly-Listed REITs Companies 38.55x
United States of America Market PE Ratio Median Figure of 2,917 Publicly-Listed Companies 18.02x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Retail Opportunity Investments.

NasdaqGS:ROIC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:ROIC Share Price ÷ EPS (both in USD)

= 17.78 ÷ 0.43

41.45x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Retail Opportunity Investments is overvalued based on earnings compared to the US REITs industry average.
  • Retail Opportunity Investments is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Retail Opportunity Investments's expected growth come at a high price?
Raw Data
NasdaqGS:ROIC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 41.45x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
2.6%per year
United States of America REITs Industry PEG Ratio Median Figure of 133 Publicly-Listed REITs Companies 2.41x
United States of America Market PEG Ratio Median Figure of 2,043 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

NasdaqGS:ROIC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 41.45x ÷ 2.6%

15.86x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Retail Opportunity Investments is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Retail Opportunity Investments's assets?
Raw Data
NasdaqGS:ROIC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in USD $10.15
NasdaqGS:ROIC Share Price * NasdaqGS (2019-11-21) in USD $17.78
United States of America REITs Industry PB Ratio Median Figure of 183 Publicly-Listed REITs Companies 1.97x
United States of America Market PB Ratio Median Figure of 5,089 Publicly-Listed Companies 1.75x
NasdaqGS:ROIC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:ROIC Share Price ÷ Book Value per Share (both in USD)

= 17.78 ÷ 10.15

1.75x

* Primary Listing of Retail Opportunity Investments.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Retail Opportunity Investments is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Retail Opportunity Investments's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Retail Opportunity Investments has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

ROIC Future Performance

 How is Retail Opportunity Investments expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
2.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Retail Opportunity Investments expected to grow at an attractive rate?
  • Retail Opportunity Investments's earnings growth is positive but not above the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Retail Opportunity Investments's earnings growth is positive but not above the United States of America market average.
  • Retail Opportunity Investments's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:ROIC Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:ROIC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 2.6%
NasdaqGS:ROIC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 2.6%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 7.1%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:ROIC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:ROIC Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 312 49 2
2020-12-31 302 45 6
2019-12-31 294 44 3
2019-11-22
NasdaqGS:ROIC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-09-30 297 131 49
2019-06-30 298 126 45
2019-03-31 297 127 45
2018-12-31 296 131 42
2018-09-30 293 136 43
2018-06-30 287 132 38
2018-03-31 282 134 39
2017-12-31 273 129 38
2017-09-30 264 119 37
2017-06-30 255 122 35
2017-03-31 247 119 35
2016-12-31 237 115 32

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Retail Opportunity Investments's earnings are expected to grow by 2.6% yearly, however this is not considered high growth (20% yearly).
  • Retail Opportunity Investments's revenue is expected to grow by 2.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:ROIC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Retail Opportunity Investments Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:ROIC Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.37 0.39 0.34 2.00
2020-12-31 0.34 0.36 0.31 4.00
2019-12-31 0.36 0.40 0.31 4.00
2019-11-22
NasdaqGS:ROIC Past Financials Data
Date (Data in USD Millions) EPS *
2019-09-30 0.43
2019-06-30 0.40
2019-03-31 0.40
2018-12-31 0.38
2018-09-30 0.38
2018-06-30 0.34
2018-03-31 0.35
2017-12-31 0.35
2017-09-30 0.34
2017-06-30 0.32
2017-03-31 0.32
2016-12-31 0.31

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Retail Opportunity Investments is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Retail Opportunity Investments's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Retail Opportunity Investments has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

ROIC Past Performance

  How has Retail Opportunity Investments performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Retail Opportunity Investments's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Retail Opportunity Investments's year on year earnings growth rate has been positive over the past 5 years.
  • Retail Opportunity Investments's 1-year earnings growth is less than its 5-year average (14.2% vs 18.1%)
  • Retail Opportunity Investments's earnings growth has exceeded the US REITs industry average in the past year (14.2% vs 8.7%).
Earnings and Revenue History
Retail Opportunity Investments's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Retail Opportunity Investments Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:ROIC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 296.58 48.75 17.30
2019-06-30 298.05 45.10 16.62
2019-03-31 297.46 44.87 15.66
2018-12-31 295.80 42.34 14.92
2018-09-30 293.39 42.70 14.60
2018-06-30 287.46 37.68 14.31
2018-03-31 281.76 38.67 14.14
2017-12-31 273.26 38.16 14.10
2017-09-30 263.58 36.94 13.86
2017-06-30 254.96 35.21 13.60
2017-03-31 247.00 34.62 13.30
2016-12-31 237.19 32.48 13.12
2016-09-30 225.40 29.79 13.32
2016-06-30 216.13 29.94 13.19
2016-03-31 203.67 27.45 13.33
2015-12-31 192.70 23.64 12.65
2015-09-30 183.16 21.32 12.26
2015-06-30 173.94 20.55 12.16
2015-03-31 164.64 21.19 11.28
2014-12-31 155.86 20.14 11.20
2014-09-30 147.76 19.36 10.40
2014-06-30 136.17 37.95 9.90
2014-03-31 125.36 35.32 9.85
2013-12-31 113.62 34.45 10.06
2013-09-30 101.64 30.35 9.20
2013-06-30 91.76 7.60 10.41
2013-03-31 84.24 8.80 10.28
2012-12-31 76.79 7.68 9.93

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Retail Opportunity Investments has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Retail Opportunity Investments used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • Retail Opportunity Investments has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Retail Opportunity Investments's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Retail Opportunity Investments has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

ROIC Health

 How is Retail Opportunity Investments's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Retail Opportunity Investments's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Retail Opportunity Investments is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Retail Opportunity Investments's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Retail Opportunity Investments's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Retail Opportunity Investments Company Filings, last reported 1 month ago.

NasdaqGS:ROIC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 1,285.15 1,425.18 6.61
2019-06-30 1,274.59 1,482.40 7.49
2019-03-31 1,293.95 1,470.56 12.34
2018-12-31 1,308.43 1,483.31 11.01
2018-09-30 1,325.58 1,463.35 12.12
2018-06-30 1,309.12 1,526.85 19.59
2018-03-31 1,322.43 1,494.05 20.61
2017-12-31 1,329.64 1,487.15 15.87
2017-09-30 1,286.51 1,365.79 12.45
2017-06-30 1,295.61 1,331.85 12.36
2017-03-31 1,307.63 1,245.62 20.49
2016-12-31 1,315.57 1,156.28 14.00
2016-09-30 1,324.11 1,066.09 10.45
2016-06-30 1,197.02 1,192.03 17.54
2016-03-31 1,167.85 1,034.43 14.99
2015-12-31 1,165.02 982.25 8.84
2015-09-30 1,030.36 872.26 6.95
2015-06-30 950.90 855.09 7.54
2015-03-31 960.42 824.51 11.68
2014-12-31 962.78 743.38 10.77
2014-09-30 944.60 676.70 11.78
2014-06-30 935.87 687.68 10.32
2014-03-31 703.72 688.94 14.10
2013-12-31 705.41 624.23 9.87
2013-09-30 719.42 513.01 11.23
2013-06-30 658.07 397.39 6.39
2013-03-31 605.23 316.43 6.89
2012-12-31 466.54 409.70 4.69
  • Retail Opportunity Investments's level of debt (110.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (71.7% vs 110.9% today).
  • Debt is not well covered by operating cash flow (9.2%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.7x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Retail Opportunity Investments's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Retail Opportunity Investments has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

ROIC Dividends

 What is Retail Opportunity Investments's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.43%
Current annual income from Retail Opportunity Investments dividends. Estimated to be 4.57% next year.
If you bought $2,000 of Retail Opportunity Investments shares you are expected to receive $89 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Retail Opportunity Investments's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
  • Retail Opportunity Investments's dividend is above the markets top 25% of dividend payers in United States of America (3.65%).
Upcoming dividend payment

Purchase Retail Opportunity Investments before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:ROIC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 175 Stocks 3.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1954 Stocks 2.3%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:ROIC Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.87 1.00
2022-12-31 0.85 1.00
2021-12-31 0.84 4.00
2020-12-31 0.81 7.00
2019-12-31 0.79 7.00
2019-11-22
NasdaqGS:ROIC Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-10-29 0.788 4.309
2019-10-28 0.788 4.221
2019-07-25 0.788 4.345
2019-07-24 0.788 4.413
2019-04-25 0.788 4.525
2019-04-24 0.788 4.503
2019-02-19 0.788 4.598
2018-10-24 0.780 4.520
2018-10-23 0.780 4.483
2018-07-26 0.780 4.149
2018-07-25 0.780 4.118
2018-04-25 0.780 4.271
2018-02-21 0.780 4.501
2017-10-25 0.750 3.986
2017-10-24 0.750 4.021
2017-07-27 0.750 3.815
2017-07-26 0.750 3.651
2017-04-26 0.750 3.773
2017-02-23 0.750 3.532
2017-02-22 0.750 3.457
2016-10-25 0.720 3.494
2016-07-28 0.720 3.299
2016-07-27 0.720 3.200
2016-04-28 0.720 3.429
2016-04-27 0.720 3.648
2016-02-24 0.720 3.728
2016-02-23 0.720 3.891
2015-10-29 0.680 3.778
2015-10-28 0.680 3.714
2015-07-30 0.680 4.043
2015-07-29 0.680 4.028
2015-04-30 0.680 4.169
2015-04-29 0.680 3.985
2015-02-25 0.680 3.849
2015-02-24 0.680 3.998
2014-10-30 0.640 3.778
2014-10-29 0.640 3.993
2014-07-30 0.640 4.149
2014-04-30 0.640 4.067
2014-02-24 0.640 4.253
2013-10-31 0.600 4.115
2013-08-02 0.600 4.377
2013-08-01 0.600 4.404
2013-05-02 0.600 4.207
2013-02-21 0.600 4.371
2012-11-01 0.560 4.372
2012-08-02 0.560 4.422
2012-05-03 0.520 4.274
2012-02-23 0.480 4.006
2011-11-03 0.480 4.116
2011-08-03 0.400 3.631
2011-05-04 0.360 3.319
2011-02-23 0.320 2.953
2010-11-03 0.240 2.420
2010-08-04 0.240 2.483
2010-05-05 0.240 2.474

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Retail Opportunity Investments's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (179.2x coverage).
X
Income/ dividend checks
We assess Retail Opportunity Investments's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Retail Opportunity Investments afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Retail Opportunity Investments has a total score of 6/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ROIC Management

 What is the CEO of Retail Opportunity Investments's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Stuart Tanz
COMPENSATION $4,944,414
AGE 60
TENURE AS CEO 10.1 years
CEO Bio

Mr. Stuart A. Tanz has been the Chief Executive Officer and President of Retail Opportunity Investments GP LLC - General Partner of Retail Opportunity Investments Partnership, LP since 2009. Mr. Tanz has been the Chief Executive Officer and the President of Retail Opportunity Investments Corp., since 2009. He is the Founder of United Income Properties and served as its Chief Executive Officer from 2006 to 2009. He has more than 25 years of outstanding and highly-productive experience in real estate investment and development. Using his expertise and well-developed management skills, he grew his predecessor company, Pan Pacific Retail Properties, Inc. (PPRP) from a small, closely-held private investment company into the West Coast's premier publicly-held Real Estate Investment Trust (REIT) with assets exceeding $4 billion. He served as the Chairman, Chief Executive Officer and President at Pan Pacific Retail Properties Inc. since inception as a public company in August 1997. Previously, Mr. Tanz served as Chief Executive Officer of Revenue Properties (U.S.) Inc. from May 1996 to August 1997 and as its President from April 1992 to August 1997. From 1992 to August 1997, he also served in various executive capacities of Revenue Properties (U.S.) Inc.'s parent company and subsidiary entities. From 1985 to 1992, he served as President and Chief Operating Officer of United Income Properties, Inc., where he developed property in Southern California. He was responsible for land acquisitions for Bramalea Ltd. from 1982 to 1985. He serves as Director of Retail Opportunity Investments GP LLC. He serves as Trustee at Sanford-Burnham Medical Research Institute. Mr. Tanz is a member of the Advisory Council for the University of Southern California Lusk Center for Real Estate and Chairman of the Advisory council for the Tanz Centre for Research in Neurodegenerative Diseases. He has been a Director of Retail Opportunity Investments Corp. since 2009 (formerly NRDC Acquisition Corp.). Mr. Tanz is a member of International Council of Shopping Centers and Young President Organization. In 1998, National Real Estate Investors named Mr. Tanz as one of the country’s top real estate executives under the age of 40 and in 2001 Mr. Tanz was awarded San Diego’s Ernst & Young Real Estate Entrepreneur of the Year in real estate. He served as a Director since PPRP's inception as a public company in August 1997. He served as Director at Grubb & Ellis Company. Mr. Tanz received his B.S. degree in Business Administration from the University of Southern California.

CEO Compensation
  • Stuart's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Stuart's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Retail Opportunity Investments management team in years:

7.8
Average Tenure
56.5
Average Age
  • The average tenure for the Retail Opportunity Investments management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Stuart Tanz

TITLE
President
COMPENSATION
$5M
AGE
60
TENURE
10.1 yrs

Michael Haines

TITLE
Executive VP
COMPENSATION
$2M
AGE
57
TENURE
6.9 yrs

Rich Schoebel

TITLE
Chief Operating Officer
COMPENSATION
$2M
AGE
53
TENURE
10 yrs

Laurie Sneve

TITLE
CAO, Senior VP & Controller
COMPENSATION
$224K
AGE
56
TENURE
6.8 yrs

Ashley Rubino

TITLE
Investor Relations Officer
TENURE
7.8 yrs

Carol Merriman

TITLE
Investor Relations Officer
Board of Directors Tenure

Average tenure and age of the Retail Opportunity Investments board of directors in years:

11.2
Average Tenure
69
Average Age
  • The average tenure for the Retail Opportunity Investments board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Richard Baker

TITLE
Non-Executive Chairman
COMPENSATION
$786K
AGE
54
TENURE
10.1 yrs

Stuart Tanz

TITLE
President
COMPENSATION
$5M
AGE
60
TENURE
10.1 yrs

Michael Indiveri

TITLE
Independent Director
COMPENSATION
$196K
AGE
66
TENURE
12.3 yrs

Ed Meyer

TITLE
Independent Director
COMPENSATION
$189K
AGE
92
TENURE
12.3 yrs

Laura Pomerantz

TITLE
Independent Director
COMPENSATION
$188K
AGE
71
TENURE
12.3 yrs

Lee Neibart

TITLE
Independent Director
COMPENSATION
$169K
AGE
68
TENURE
12.3 yrs

Charles Persico

TITLE
Independent Director
COMPENSATION
$176K
AGE
79
TENURE
10.1 yrs

Eric Zorn

TITLE
Independent Director
COMPENSATION
$175K
AGE
70
TENURE
7.7 yrs
Who owns this company?
Recent Insider Trading
  • Retail Opportunity Investments individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
19. Nov 19 Sell Michael Haines Individual 15. Nov 19 15. Nov 19 -10,000 $18.30 $-183,000
19. Nov 19 Sell Richard Schoebel Individual 15. Nov 19 15. Nov 19 -6,000 $18.23 $-109,380
13. Nov 19 Sell Richard Schoebel Individual 12. Nov 19 12. Nov 19 -6,000 $18.08 $-108,470
01. Nov 19 Sell Laura Pomerantz Individual 31. Oct 19 31. Oct 19 -13,275 $18.66 $-247,759
01. Nov 19 Sell Richard Baker Individual 31. Oct 19 31. Oct 19 -50,000 $18.66 $-933,125
X
Management checks
We assess Retail Opportunity Investments's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Retail Opportunity Investments has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

ROIC News

Simply Wall St News

Should Retail Opportunity Investments Corp. (NASDAQ:ROIC) Be Part Of Your Income Portfolio?

In this case, Retail Opportunity Investments likely looks attractive to dividend investors, given its 4.5% dividend yield and nine-year payment history. … It's positive to see that Retail Opportunity Investments's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. … Looking at the last decade of data, we can see that Retail Opportunity Investments paid its first dividend at least nine years ago.

Simply Wall St -

How To Look At Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Retail Opportunity Investments Corp. … View our latest analysis for Retail Opportunity Investments REIT investors should be familiar with the term Fund from Operations (FFO) – a REIT’s main source of cash flow from its day-to-day business activities. … Next Steps: As a REIT, Retail Opportunity Investments offers some unique characteristics which could help diversify your portfolio.

Simply Wall St -

Volatility 101: Should Retail Opportunity Investments (NASDAQ:ROIC) Shares Have Dropped 22%?

(NASDAQ:ROIC) shareholders have had that experience, with the share price dropping 22% in three years, versus a market return of about 47%. … During the unfortunate three years of share price decline, Retail Opportunity Investments actually saw its earnings per share (EPS) improve by 12% per year. … We note that for Retail Opportunity Investments the TSR over the last 3 years was -12%, which is better than the share price return mentioned above.

Simply Wall St -

Does Retail Opportunity Investments (NASDAQ:ROIC) Have A Healthy Balance Sheet?

NasdaqGS:ROIC Historical Debt, June 19th 2019 A Look At Retail Opportunity Investments's Liabilities The latest balance sheet data shows that Retail Opportunity Investments had liabilities of US$29.2m due within a year, and liabilities of US$1.67b falling due after that. … Because it carries more debt than cash, we think it's worth watching Retail Opportunity Investments's balance sheet over time. … Our View Retail Opportunity Investments's net debt to EBITDA and interest cover definitely weigh on it, in our esteem.

Simply Wall St -

Is Retail Opportunity Investments Corp.'s (NASDAQ:ROIC) 3.9% ROE Worse Than Average?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Retail Opportunity Investments: 3.9% = US$45m ÷ US$1.3b (Based on the trailing twelve months to March 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Does Retail Opportunity Investments Have A Good ROE? … Combining Retail Opportunity Investments's Debt And Its 3.9% Return On Equity Retail Opportunity Investments does use a significant amount of debt to increase returns.

Simply Wall St -

Read This Before Buying Retail Opportunity Investments Corp. (NASDAQ:ROIC) For Its Dividend

Today we'll take a closer look at Retail Opportunity Investments Corp. … In this case, Retail Opportunity Investments likely looks attractive to dividend investors, given its 4.6% dividend yield and nine-year payment history.! … Explore this interactive chart for our latest analysis on Retail Opportunity Investments

Simply Wall St -

Investing In Retail Opportunity Investments Corp. (NASDAQ:ROIC): What You Need To Know

Retail Opportunity Investments Corp. … real estate investment trust (REIT) based in San Diego, United States. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company.

Simply Wall St -

Is Retail Opportunity Investments Corp. (NASDAQ:ROIC) Excessively Paying Its CEO?

Stuart Tanz became the CEO of Retail Opportunity Investments Corp. … Check out our latest analysis for Retail Opportunity Investments? … How Does Stuart Tanz's Compensation Compare With Similar Sized Companies.

Simply Wall St -

What Can We Expect From Retail Opportunity Investments Corp.'s (NASDAQ:ROIC) Earnings In The Year Ahead?

On 31 December 2018, Retail Opportunity Investments Corp. … (NASDAQ:ROIC) announced its latest earnings update. … as a -7.7% fall in profits is expected in the upcoming year

Simply Wall St -

Retail Opportunity Investments Shareholders Booked A 16% Gain In The Last Five Years

Furthermore, you'd generally like to see the share price rise faster than the market. … (NASDAQ:ROIC) has fallen short of that second goal, with a share price rise of 16% over five years, which is below the market return. … During five years of share price growth, Retail Opportunity Investments actually saw its EPS drop 6.0% per year.

Simply Wall St -

ROIC Company Info

Description

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 September 30, 2019, ROIC owned 88 shopping centers encompassing approximately 10.1 million square feet. ROIC is the largest publicly-traded, grocery-anchored shopping center REIT focused exclusively on the West Coast. ROIC is a member of the S&P SmallCap 600 Index and has investment-grade corporate debt ratings from Moody's Investor Services and S&P Global Ratings.

Details
Name: Retail Opportunity Investments Corp.
ROIC
Exchange: NasdaqGS
Founded:
$2,304,016,987
$2,062,416,454
127,223,467
Website: http://www.roireit.net
Address: Retail Opportunity Investments Corp.
11250 El Camino Real,
Suite 200,
San Diego,
California, 92130,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS ROIC Common Stock Nasdaq Global Select US USD 30. Oct 2007
Number of employees
Current staff
Staff numbers
71
Retail Opportunity Investments employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/22 00:31
End of day share price update: 2019/11/21 00:00
Last estimates confirmation: 2019/11/11
Last earnings filing: 2019/10/29
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.