Equities research analysts forecast that Retail Opportunity Investments Corp (NASDAQ:ROIC) will announce $73.85 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Retail Opportunity Investments’ earnings, with the highest sales estimate coming in at $75.84 million and the lowest estimate coming in at $70.84 million. Retail Opportunity Investments posted sales of $72.34 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.1%. The business is expected to announce its next quarterly earnings results on Wednesday, July 24th.
According to Zacks, analysts expect that Retail Opportunity Investments will report full year sales of $299.38 million for the current financial year, with estimates ranging from $290.61 million to $304.34 million. For the next financial year, analysts expect that the firm will report sales of $305.68 million, with estimates ranging from $293.16 million to $314.71 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Retail Opportunity Investments.
Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. Retail Opportunity Investments had a net margin of 15.22% and a return on equity of 3.46%. The company had revenue of $76.05 million during the quarter, compared to the consensus estimate of $75.31 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year.
ROIC has been the subject of several research reports. Zacks Investment Research downgraded shares of Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. BidaskClub downgraded shares of Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research report on Wednesday, February 20th. Finally, BMO Capital Markets reissued a “hold” rating and set a $18.00 price objective on shares of Retail Opportunity Investments in a research report on Tuesday, February 19th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Retail Opportunity Investments presently has an average rating of “Hold” and a consensus price target of $18.00.
A number of institutional investors and hedge funds have recently made changes to their positions in ROIC. Norges Bank acquired a new position in Retail Opportunity Investments during the fourth quarter worth $20,652,000. Centersquare Investment Management LLC acquired a new position in Retail Opportunity Investments during the first quarter worth $19,668,000. Oregon Public Employees Retirement Fund acquired a new position in Retail Opportunity Investments during the fourth quarter worth $43,000. Vision Capital Corp acquired a new position in Retail Opportunity Investments during the fourth quarter worth $10,911,000. Finally, BlackRock Inc. boosted its holdings in Retail Opportunity Investments by 3.0% during the fourth quarter. BlackRock Inc. now owns 19,898,702 shares of the real estate investment trust’s stock worth $315,992,000 after purchasing an additional 573,022 shares during the last quarter. Institutional investors and hedge funds own 92.00% of the company’s stock.
Shares of ROIC stock traded down $0.07 during trading hours on Wednesday, hitting $16.96. 552,100 shares of the company were exchanged, compared to its average volume of 814,787. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 1.14. Retail Opportunity Investments has a 52 week low of $15.44 and a 52 week high of $19.80. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 3.57 and a beta of 0.72.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be issued a dividend of $0.197 per share. This represents a $0.79 annualized dividend and a yield of 4.65%. The ex-dividend date is Wednesday, June 12th. Retail Opportunity Investments’s payout ratio is 69.30%.
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 March 31, 2019, ROIC owned 90 shopping centers encompassing approximately 10.3 million square feet.
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