Brokers expect Retail Opportunity Investments Corp. (NASDAQ:ROIC) Announces Quarterly Sales of $74.79 Million

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Analysts expect Retail Opportunity Investments Corp. (NASDAQ: ROIC – Get Rating) reports revenue of $74.79 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have released earnings estimates for Retail Opportunity Investments, with estimates ranging from $74.10 million to $75.67 million. Retail Opportunity Investments recorded sales of $70.73 million in the same quarter last year, which would indicate a positive growth rate of 5.7% year over year. The company is expected to release its next quarterly results on Monday, January 1.

On average, analysts expect Retail Opportunity Investments to report sales of $300.84 million for the current year, with estimates ranging from $288.94 million to $306.99 million. For next year, analysts expect the company to post sales of $316.23 million, with estimates ranging from $300.02 million to $330.47 million. Zacks sales averages are an average based on a survey of analysts who track Retail Opportunity Investments.

Retail Opportunity Investments (NASDAQ: ROIC – Get Rating) last released quarterly earnings data on Monday, April 25. The real estate investment trust reported earnings per share of $0.09 for the quarter, beating the consensus estimate of $0.07 by $0.02. Retail Opportunity Investments posted a net margin of 19.81% and a return on equity of 4.26%. The company posted revenue of $75.04 million in the quarter, compared to $73.21 million expected by analysts. During the same quarter last year, the company posted EPS of $0.24. The company’s quarterly revenue increased by 8.9% compared to the same quarter last year.

A number of brokerages have recently released ROIC reports. Wells Fargo & Company raised its price target on shares of Retail Opportunity Investments from $17.00 to $19.00 and gave the company an “underweight” rating in a Thursday, April 7 report. Zacks Investment Research raised investments in retail opportunities from a “sell” rating to a “hold” rating in a Friday, March 4 research note. Capital One Financial reaffirmed an “equal weight” rating on shares of Retail Opportunity Investments in a Monday, April 18 research note. StockNews.com took over the investment coverage of retail opportunities in a Thursday, March 31 research note. They issued a “holding” rating on the stock. Finally, TheStreet upgraded Retail Opportunity Investments from a “c+” rating to a “b-” rating in a research report on Monday, April 25. One research analyst rated the stock with a sell rating, three issued a hold rating and one gave the company’s stock a buy rating. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.00.

Several hedge funds and other institutional investors have recently changed their positions in the company. First Trust Advisors LP increased its position in shares of Retail Opportunity Investments by 104.3% during the fourth quarter. First Trust Advisors LP now owns 118,945 shares of the real estate investment trust worth $2,331,000 after buying an additional 60,736 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Retail Opportunity Investments by 3.6% during the third quarter. Allianz Asset Management GmbH now owns 352,205 shares of the real estate investment trust worth $6,135,000 after buying an additional 12,205 shares in the last quarter. abrdn plc increased its position in shares of Retail Opportunity Investments by 5.9% in the fourth quarter. abrdn plc now owns 25,545 shares of the real estate investment trust valued at $501,000 after acquiring 1,413 additional shares in the last quarter. Foundry Partners LLC increased its position in shares of Retail Opportunity Investments by 22.7% in the fourth quarter. Foundry Partners LLC now owns 609,413 shares of the real estate investment trust worth $11,944,000 after acquiring an additional 112,609 shares in the last quarter. Finally, Whittier Trust Co. increased its position in shares of Retail Opportunity Investments by 3.3% in the 4th quarter. Whittier Trust Co. now owns 109,090 shares of the real estate investment trust worth $2,137,000 after acquiring 3,489 additional shares in the last quarter. 96.17% of the shares are held by institutional investors.

ROIC shares opened at $16.87 on Monday. The company has a market capitalization of $2.10 billion, a PE ratio of 35.89, a P/E/G ratio of 2.39 and a beta of 1.37. Retail Opportunity Investments has a 12-month low of $16.47 and a 12-month high of $20.09. The company’s fifty-day simple moving average is $18.82 and its 200-day simple moving average is $18.65. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt ratio of 0.95.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 8. Shareholders of record on Friday, June 17 will receive a dividend of $0.13 per share. The ex-dividend date is Thursday, June 16. This represents a dividend of $0.52 on an annualized basis and a dividend yield of 3.08%. The payout ratio of Retail Opportunity Investments is 110.64%.

Retail Opportunity Investments Company Profile (Get an assessment)

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 coast west. As of September 30, 2020, ROIC owned 88 shopping centers covering approximately 10.1 million square feet.

Further reading

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Earnings History and Estimates for Retail Opportunity Investments (NASDAQ: ROIC)



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