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.
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