Retail Opportunity Investments Corp (ROIC) Expected to Post Quarterly Sales of $73.85 Million

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Wall Street analysts forecast that Retail Opportunity Investments Corp (NASDAQ:ROIC) will post sales of $73.85 million for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Retail Opportunity Investments’ earnings. The highest sales estimate is $75.84 million and the lowest is $70.84 million. Retail Opportunity Investments reported sales of $72.34 million in the same quarter last year, which indicates a positive year over year growth rate of 2.1%. The business is expected to announce its next quarterly earnings report 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 year, analysts forecast that the business will report sales of $305.68 million, with estimates ranging from $293.16 million to $314.71 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Retail Opportunity Investments.

Retail Opportunity Investments (NASDAQ:ROIC) last released its earnings results 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. The company had revenue of $76.05 million during the quarter, compared to analyst estimates of $75.31 million. Retail Opportunity Investments had a net margin of 15.22% and a return on equity of 3.46%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 EPS.

Several research firms recently issued reports on ROIC. Zacks Investment Research lowered shares of Retail Opportunity Investments from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. BidaskClub raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Finally, BMO Capital Markets reissued a “hold” rating and issued a $18.00 target price on shares of Retail Opportunity Investments in a report on Tuesday, February 19th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $18.00.

A number of hedge funds have recently bought and sold shares of ROIC. Lindbrook Capital LLC bought a new position in Retail Opportunity Investments in the 4th quarter worth approximately $27,000. First Hawaiian Bank bought a new position in Retail Opportunity Investments in the 1st quarter worth approximately $32,000. Oregon Public Employees Retirement Fund bought a new position in Retail Opportunity Investments in the 4th quarter worth approximately $43,000. Cresset Asset Management LLC bought a new position in Retail Opportunity Investments in the 1st quarter worth approximately $46,000. Finally, PNC Financial Services Group Inc. boosted its stake in Retail Opportunity Investments by 23.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,197 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 603 shares during the period. Institutional investors and hedge funds own 94.26% of the company’s stock.

Retail Opportunity Investments stock traded down $0.04 during midday trading on Tuesday, hitting $17.54. The stock had a trading volume of 815,600 shares, compared to its average volume of 835,664. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 3.65 and a beta of 0.72. Retail Opportunity Investments has a 52-week low of $15.44 and a 52-week high of $19.80. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 1.14.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be paid a $0.197 dividend. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $0.79 annualized dividend and a yield of 4.49%. Retail Opportunity Investments’s payout ratio is 69.30%.

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 March 31, 2019, ROIC owned 90 shopping centers encompassing approximately 10.3 million square feet.

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