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.
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