$74.59 Million in Sales Expected for Retail Opportunity Investments Corp (NASDAQ:ROIC) This Quarter

Share on StockTwits

Wall Street brokerages expect Retail Opportunity Investments Corp (NASDAQ:ROIC) to report sales of $74.59 million for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Retail Opportunity Investments’ earnings, with the lowest sales estimate coming in at $73.22 million and the highest estimate coming in at $76.25 million. Retail Opportunity Investments posted sales of $73.90 million during the same quarter last year, which would indicate a positive year over year growth rate of 0.9%. The company is scheduled to announce its next quarterly earnings results on Tuesday, October 22nd.

On average, analysts expect that Retail Opportunity Investments will report full-year sales of $299.85 million for the current fiscal year, with estimates ranging from $294.65 million to $304.34 million. For the next financial year, analysts anticipate that the firm will report sales of $305.76 million, with estimates ranging from $298.20 million to $314.71 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Retail Opportunity Investments.

Retail Opportunity Investments (NASDAQ:ROIC) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.26 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.02). Retail Opportunity Investments had a net margin of 15.28% and a return on equity of 3.50%. The firm had revenue of $72.93 million during the quarter, compared to the consensus estimate of $73.49 million. During the same period in the prior year, the business earned $0.27 earnings per share. Retail Opportunity Investments’s quarterly revenue was up .8% compared to the same quarter last year.

Several equities analysts have commented on the stock. ValuEngine raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. BMO Capital Markets set a $18.00 target price on shares of Retail Opportunity Investments and gave the company a “hold” rating in a report on Wednesday, July 24th. BidaskClub raised shares of Retail Opportunity Investments from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Zacks Investment Research raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, DA Davidson reaffirmed a “buy” rating on shares of Retail Opportunity Investments in a report on Monday, July 29th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Retail Opportunity Investments presently has an average rating of “Buy” and an average price target of $18.00.

Several institutional investors have recently made changes to their positions in ROIC. First Hawaiian Bank acquired a new stake in Retail Opportunity Investments during the 1st quarter worth approximately $32,000. Tower Research Capital LLC TRC boosted its position in Retail Opportunity Investments by 765.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,852 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 1,638 shares during the period. Advisory Services Network LLC boosted its position in Retail Opportunity Investments by 2,023.9% during the 2nd quarter. Advisory Services Network LLC now owns 2,400 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 2,287 shares during the period. Quadrant Capital Group LLC boosted its position in Retail Opportunity Investments by 1,542.1% during the 1st quarter. Quadrant Capital Group LLC now owns 3,005 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 2,822 shares during the period. Finally, HM Payson & Co. acquired a new stake in Retail Opportunity Investments during the 2nd quarter worth approximately $51,000. 91.53% of the stock is currently owned by institutional investors.

ROIC stock traded up $0.08 during mid-day trading on Tuesday, hitting $17.80. The stock had a trading volume of 1,741,200 shares, compared to its average volume of 1,097,664. The company has a current ratio of 4.36, a quick ratio of 4.36 and a debt-to-equity ratio of 1.16. Retail Opportunity Investments has a 52 week low of $15.44 and a 52 week high of $19.80. The firm has a market capitalization of $2.03 billion, a P/E ratio of 15.61, a P/E/G ratio of 3.61 and a beta of 0.71. The firm has a fifty day simple moving average of $17.79 and a 200 day simple moving average of $17.42.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be issued a dividend of $0.197 per share. This represents a $0.79 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend is Wednesday, September 11th. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 69.30%.

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

See Also: Bear Market

Get a free copy of the Zacks research report on Retail Opportunity Investments (ROIC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Retail Opportunity Investments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Retail Opportunity Investments and related companies with MarketBeat.com's FREE daily email newsletter.