Equities research analysts forecast that Retail Opportunity Investments Corp (NASDAQ:ROIC) will post $74.33 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Retail Opportunity Investments’ earnings, with estimates ranging from $73.45 million to $75.32 million. Retail Opportunity Investments reported sales of $72.75 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.2%. The business is scheduled to issue its next earnings results on Wednesday, February 20th.
According to Zacks, analysts expect that Retail Opportunity Investments will report full year sales of $293.46 million for the current year, with estimates ranging from $289.53 million to $295.96 million. For the next year, analysts forecast that the company will post sales of $303.55 million, with estimates ranging from $298.03 million to $312.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Retail Opportunity Investments.
Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.22). Retail Opportunity Investments had a return on equity of 3.26% and a net margin of 14.69%. The business had revenue of $73.90 million during the quarter, compared to the consensus estimate of $73.15 million. During the same quarter in the previous year, the company earned $0.29 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year.
Several research analysts have weighed in on the company. BidaskClub downgraded Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Sunday, September 30th. Zacks Investment Research upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research note on Saturday, September 22nd. BMO Capital Markets assumed coverage on Retail Opportunity Investments in a research note on Tuesday, September 18th. They issued a “hold” rating and a $20.00 price target for the company. Finally, Wells Fargo & Co upped their price target on Retail Opportunity Investments from $16.50 to $18.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $18.75.
ROIC stock opened at $17.93 on Friday. 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 company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 2.79 and a beta of 0.55.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be given a dividend of $0.195 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 4.35%. Retail Opportunity Investments’s dividend payout ratio is currently 68.42%.
Several hedge funds and other institutional investors have recently bought and sold shares of ROIC. BlackRock Inc. boosted its position in shares of Retail Opportunity Investments by 9.9% during the 2nd quarter. BlackRock Inc. now owns 19,207,417 shares of the real estate investment trust’s stock valued at $368,014,000 after acquiring an additional 1,735,231 shares during the last quarter. Granite Investment Partners LLC bought a new position in shares of Retail Opportunity Investments during the 3rd quarter valued at approximately $15,230,000. Raymond James & Associates boosted its position in shares of Retail Opportunity Investments by 75.6% during the 2nd quarter. Raymond James & Associates now owns 1,785,904 shares of the real estate investment trust’s stock valued at $34,218,000 after acquiring an additional 768,810 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Retail Opportunity Investments by 37.9% during the 2nd quarter. Jennison Associates LLC now owns 1,941,073 shares of the real estate investment trust’s stock valued at $37,191,000 after acquiring an additional 533,286 shares during the last quarter. Finally, RBO & Co. LLC bought a new position in shares of Retail Opportunity Investments during the 2nd quarter valued at approximately $8,944,000.
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 June 30, 2018, ROIC owned 92 shopping centers encompassing approximately 10.6 million square feet.
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