Wall Street brokerages expect Retail Opportunity Investments Corp (NASDAQ:ROIC) to announce sales of $74.33 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Retail Opportunity Investments’ earnings, with the lowest sales estimate coming in at $73.45 million and the highest estimate coming in at $75.32 million. Retail Opportunity Investments posted sales of $72.75 million during the same quarter last year, which suggests a positive year-over-year growth rate of 2.2%. The company is expected to issue its next quarterly earnings report after the market closes on Wednesday, February 20th.
On average, analysts expect that Retail Opportunity Investments will report full-year sales of $293.46 million for the current financial year, with estimates ranging from $289.53 million to $295.96 million. For the next financial year, analysts forecast that the firm will post sales of $303.55 million, with estimates ranging from $298.03 million to $312.30 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Retail Opportunity Investments.
Retail Opportunity Investments (NASDAQ:ROIC) last issued its earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.22). The company had revenue of $73.90 million for the quarter, compared to analyst estimates of $73.15 million. Retail Opportunity Investments had a net margin of 14.69% and a return on equity of 3.26%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS.
Shares of NASDAQ:ROIC traded down $0.17 during trading on Tuesday, reaching $17.94. 869,197 shares of the company traded hands, compared to its average volume of 798,601. The firm has a market capitalization of $2.04 billion, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 2.79 and a beta of 0.57. Retail Opportunity Investments has a 1-year low of $16.17 and a 1-year high of $20.14. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.10.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be paid a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Thursday, December 13th. Retail Opportunity Investments’s payout ratio is presently 68.42%.
Several hedge funds have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Retail Opportunity Investments by 12.9% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,923 shares of the real estate investment trust’s stock valued at $503,000 after purchasing an additional 3,079 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in shares of Retail Opportunity Investments by 27.9% in the 3rd quarter. Riverhead Capital Management LLC now owns 14,652 shares of the real estate investment trust’s stock valued at $274,000 after purchasing an additional 3,200 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of Retail Opportunity Investments by 1.8% in the 3rd quarter. Great West Life Assurance Co. Can now owns 205,778 shares of the real estate investment trust’s stock valued at $3,844,000 after purchasing an additional 3,689 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Retail Opportunity Investments by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 559,520 shares of the real estate investment trust’s stock valued at $10,731,000 after purchasing an additional 4,214 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of Retail Opportunity Investments by 3.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 144,513 shares of the real estate investment trust’s stock valued at $2,769,000 after purchasing an additional 5,131 shares during the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.
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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