Zacks: Analysts Expect Retail Opportunity Investments Corp. (NASDAQ:ROIC) Will Post Quarterly Sales of $72.25 Million

Equities analysts expect Retail Opportunity Investments Corp. (NASDAQ:ROIC) to post sales of $72.25 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Retail Opportunity Investments’ earnings, with estimates ranging from $70.95 million to $73.19 million. Retail Opportunity Investments reported sales of $72.92 million in the same quarter last year, which would suggest a negative year over year growth rate of 0.9%. The company is scheduled to report its next earnings report on Tuesday, February 22nd.

According to Zacks, analysts expect that Retail Opportunity Investments will report full year sales of $281.40 million for the current year, with estimates ranging from $278.55 million to $284.49 million. For the next year, analysts expect that the business will post sales of $295.20 million, with estimates ranging from $290.86 million to $300.61 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Retail Opportunity Investments.

Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings data on Monday, October 25th. The real estate investment trust reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.11. Retail Opportunity Investments had a net margin of 18.96% and a return on equity of 4.10%. The business had revenue of $71.39 million during the quarter, compared to analysts’ expectations of $70.14 million. During the same period last year, the company posted $0.25 EPS. The company’s revenue was up 2.3% on a year-over-year basis.

A number of analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Retail Opportunity Investments from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Tuesday. Wells Fargo & Company raised their target price on shares of Retail Opportunity Investments from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Thursday, August 26th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $18.00.

Shares of ROIC traded up $0.06 during mid-day trading on Friday, reaching $18.68. 464,479 shares of the company’s stock were exchanged, compared to its average volume of 987,163. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 0.98. The company has a 50-day simple moving average of $18.10 and a two-hundred day simple moving average of $17.86. Retail Opportunity Investments has a 52-week low of $12.79 and a 52-week high of $18.97. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 41.51, a PEG ratio of 5.39 and a beta of 1.46.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 7th. Shareholders of record on Friday, December 17th will be issued a $0.11 dividend. The ex-dividend date is Thursday, December 16th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.36%. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 97.78%.

Several institutional investors and hedge funds have recently made changes to their positions in ROIC. Ranger Global Real Estate Advisors LLC acquired a new position in shares of Retail Opportunity Investments in the 3rd quarter valued at $49,863,000. Land & Buildings Investment Management LLC acquired a new position in shares of Retail Opportunity Investments during the 3rd quarter valued at $41,660,000. Lasalle Investment Management Securities LLC acquired a new position in shares of Retail Opportunity Investments during the 2nd quarter valued at $39,230,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Retail Opportunity Investments by 1,100.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,270,657 shares of the real estate investment trust’s stock valued at $40,100,000 after acquiring an additional 2,081,545 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Retail Opportunity Investments by 474.3% during the 2nd quarter. Millennium Management LLC now owns 2,292,100 shares of the real estate investment trust’s stock valued at $40,478,000 after acquiring an additional 1,893,013 shares in the last quarter. Institutional investors own 94.80% of the company’s stock.

Retail Opportunity Investments Company Profile

Retail Opportunity Investments Corp. operates as a self-managed real estate investment trust. The company engages in the ownership, management, and redevelopment of retail real estate properties. It specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely-populated, metropolitan markets across the West Coast.

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

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