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 September 30, 2024, ROIC owned 93 shopping centers encompassing approximately 10.5 million squa… Read more
Retail Opportunity Investments (ROIC) - Net Assets
Latest net assets as of September 2024: $1.36 Billion USD
Based on the latest financial reports, Retail Opportunity Investments (ROIC) has net assets worth $1.36 Billion USD as of September 2024.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($3.02 Billion) and total liabilities ($1.66 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.36 Billion |
| % of Total Assets | 45.12% |
| Annual Growth Rate | 10.49% |
| 5-Year Change | 5.53% |
| 10-Year Change | 41.59% |
| Growth Volatility | 16.74 |
Retail Opportunity Investments - Net Assets Trend (2007–2023)
This chart illustrates how Retail Opportunity Investments's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Retail Opportunity Investments (2007–2023)
The table below shows the annual net assets of Retail Opportunity Investments from 2007 to 2023.
| Year | Net Assets | Change |
|---|---|---|
| 2023-12-31 | $1.36 Billion | -1.54% |
| 2022-12-31 | $1.38 Billion | +1.34% |
| 2021-12-31 | $1.37 Billion | +5.82% |
| 2020-12-31 | $1.29 Billion | -0.05% |
| 2019-12-31 | $1.29 Billion | -1.27% |
| 2018-12-31 | $1.31 Billion | -1.60% |
| 2017-12-31 | $1.33 Billion | +1.07% |
| 2016-12-31 | $1.32 Billion | +16.28% |
| 2015-12-31 | $1.13 Billion | +17.51% |
| 2014-12-31 | $962.78 Million | +36.49% |
| 2013-12-31 | $705.41 Million | +51.20% |
| 2012-12-31 | $466.54 Million | +3.56% |
| 2011-12-31 | $450.49 Million | +15.36% |
| 2010-12-31 | $390.52 Million | -1.93% |
| 2009-12-31 | $398.19 Million | +42.68% |
| 2008-12-31 | $279.07 Million | +0.96% |
| 2007-12-31 | $276.42 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Retail Opportunity Investments's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 20695.1% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2023)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $13.00K | 0.00% |
| Other Comprehensive Income | $559.00K | 0.04% |
| Other Components | $1.64 Billion | 127.70% |
| Total Equity | $1.29 Billion | 100.00% |
Retail Opportunity Investments Competitors by Market Cap
The table below lists competitors of Retail Opportunity Investments ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Beijing GeoEnviron Engineering
SHG:603588
|
$2.18 Billion |
|
Alarm.com Holdings Inc
NASDAQ:ALRM
|
$2.18 Billion |
|
Advanced Echem Materials Company Limited
TWO:4749
|
$2.18 Billion |
|
KEPCO Engineering & Construction
KO:052690
|
$2.18 Billion |
|
K+S Aktiengesellschaft
XETRA:SDF
|
$2.17 Billion |
|
CSI Solar Co. Ltd. A
SHG:688472
|
$2.17 Billion |
|
Kalmar
HE:KALMAR
|
$2.17 Billion |
|
Seadrill Limited
NYSE:SDRL
|
$2.17 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Retail Opportunity Investments's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 1,296,168,000 to 1,287,320,000, a change of -8,848,000 (-0.7%).
- Net income of 34,534,000 contributed positively to equity growth.
- Dividend payments of 56,848,000 reduced retained earnings.
- Share repurchases of 3,291,000 reduced equity.
- New share issuances of 12,828,000 increased equity.
- Other comprehensive income increased equity by 545,000.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $34.53 Million | +2.68% |
| Dividends Paid | $56.85 Million | -4.42% |
| Share Repurchases | $3.29 Million | -0.26% |
| Share Issuances | $12.83 Million | +1.0% |
| Other Comprehensive Income | $545.00K | +0.04% |
| Other Changes | $3.38 Million | +0.26% |
| Total Change | $- | -0.68% |
Book Value vs Market Value Analysis
This analysis compares Retail Opportunity Investments's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.81x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2007-12-31 | $10.16 | $17.49 | x |
| 2008-12-31 | $5.39 | $17.49 | x |
| 2009-12-31 | $8.01 | $17.49 | x |
| 2010-12-31 | $9.39 | $17.49 | x |
| 2011-12-31 | $10.59 | $17.49 | x |
| 2012-12-31 | $8.87 | $17.49 | x |
| 2013-12-31 | $9.60 | $17.49 | x |
| 2014-12-31 | $10.92 | $17.49 | x |
| 2015-12-31 | $10.86 | $17.49 | x |
| 2016-12-31 | $11.25 | $17.49 | x |
| 2017-12-31 | $10.95 | $17.49 | x |
| 2018-12-31 | $9.54 | $17.49 | x |
| 2019-12-31 | $9.38 | $17.49 | x |
| 2020-12-31 | $9.47 | $17.49 | x |
| 2021-12-31 | $9.94 | $17.49 | x |
| 2022-12-31 | $9.80 | $17.49 | x |
| 2023-12-31 | $9.69 | $17.49 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Retail Opportunity Investments utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 2.68%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 10.54%
- • Asset Turnover: 0.11x
- • Equity Multiplier: 2.31x
- Recent ROE (2.68%) is above the historical average (1.22%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2007 | 0.63% | 0.00% | 0.00x | 1.48x | $-25.91 Million |
| 2008 | 0.95% | 47.42% | 0.01x | 1.48x | $-25.27 Million |
| 2009 | -2.35% | -20477.89% | 0.00x | 1.01x | $-49.19 Million |
| 2010 | -0.10% | -2.46% | 0.04x | 1.19x | $-39.45 Million |
| 2011 | 2.14% | 18.66% | 0.07x | 1.54x | $-35.39 Million |
| 2012 | 1.69% | 10.51% | 0.08x | 2.04x | $-38.76 Million |
| 2013 | 5.00% | 30.40% | 0.08x | 2.13x | $-33.80 Million |
| 2014 | 2.20% | 13.02% | 0.08x | 2.00x | $-72.07 Million |
| 2015 | 2.30% | 12.38% | 0.08x | 2.23x | $-79.80 Million |
| 2016 | 2.76% | 13.81% | 0.09x | 2.24x | $-86.07 Million |
| 2017 | 3.20% | 14.08% | 0.09x | 2.52x | $-81.92 Million |
| 2018 | 3.60% | 14.45% | 0.10x | 2.53x | $-76.09 Million |
| 2019 | -0.97% | -3.88% | 0.10x | 2.47x | $-129.37 Million |
| 2020 | -2.24% | -9.46% | 0.10x | 2.39x | $-146.82 Million |
| 2021 | -0.25% | -1.11% | 0.10x | 2.29x | $-130.86 Million |
| 2022 | -0.57% | -2.38% | 0.10x | 2.32x | $-136.97 Million |
| 2023 | 2.68% | 10.54% | 0.11x | 2.31x | $-94.20 Million |
Industry Comparison
This section compares Retail Opportunity Investments's net assets metrics with peer companies in the REIT - Retail industry.
Industry Context
- Industry: REIT - Retail
- Average net assets among peers: $22,048,860,627
- Average return on equity (ROE) among peers: 3.28%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Retail Opportunity Investments (ROIC) | $1.36 Billion | 0.63% | 1.22x | $2.18 Billion |
| Agree Realty Corporation (ADC) | $137.98 Million | 10.88% | 0.90x | $9.38 Billion |
| AEORF (AEORF) | $210.91 Billion | 5.61% | 0.83x | $1.34 Billion |
| Acadia Realty Trust (AKR) | $83.00 Million | 4.58% | 2.01x | $2.66 Billion |
| Alexander & Baldwin Holdings Inc (ALEX) | $1.07 Billion | 3.30% | 0.75x | $1.50 Billion |
| Alexanders Inc (ALX) | $50.92 Million | -34.84% | 17.09x | $517.13 Million |
| Saul Centers Inc (BFS) | $-4.60 Million | 0.00% | 0.00x | $453.98 Million |
| Brixmor Property (BRX) | $2.72 Billion | 9.94% | 2.08x | $8.61 Billion |
| CBL & Associates Properties Inc (CBL) | $1.08 Billion | 10.83% | 4.49x | $698.15 Million |
| Capital & Counties Properties PLC (CCPPF) | $2.51 Billion | 17.90% | 0.23x | $1.88 Billion |
| CapitaLand China Trust (CLDHF) | $1.93 Billion | 4.63% | 1.02x | $745.61 Million |