Brokerages predict that Retail Opportunity Investments Corp (NASDAQ:ROIC) will post earnings of $0.29 per share for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Retail Opportunity Investments’ earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.30. Retail Opportunity Investments posted earnings of $0.30 per share during the same quarter last year, which suggests a negative year over year growth rate of 3.3%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, April 24th.
According to Zacks, analysts expect that Retail Opportunity Investments will report full-year earnings of $1.14 per share for the current financial year, with EPS estimates ranging from $1.13 to $1.15. For the next fiscal year, analysts anticipate that the business will report earnings of $1.16 per share, with EPS estimates ranging from $1.15 to $1.18. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Retail Opportunity Investments.
Retail Opportunity Investments (NASDAQ:ROIC) last issued its quarterly earnings results on Tuesday, February 19th. The real estate investment trust reported $0.29 earnings per share for the quarter, hitting the consensus estimate of $0.29. Retail Opportunity Investments had a return on equity of 3.25% and a net margin of 14.45%. The firm had revenue of $75.20 million for the quarter, compared to the consensus estimate of $74.43 million. During the same period in the prior year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis.
Several research firms have commented on ROIC. BidaskClub downgraded Retail Opportunity Investments from a “hold” rating to a “sell” rating in a report on Wednesday, February 20th. Zacks Investment Research downgraded Retail Opportunity Investments from a “hold” rating to a “sell” rating in a report on Thursday. Finally, BMO Capital Markets restated a “hold” rating and set a $18.00 price objective on shares of Retail Opportunity Investments in a report on Tuesday, February 19th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The company has an average rating of “Hold” and an average target price of $18.00.
ROIC opened at $17.23 on Friday. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 3.71 and a beta of 0.72. Retail Opportunity Investments has a 52 week low of $15.44 and a 52 week high of $19.80. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.13.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.197 per share. This is an increase from Retail Opportunity Investments’s previous quarterly dividend of $0.20. This represents a $0.79 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend was Wednesday, March 13th. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 69.30%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lindbrook Capital LLC purchased a new position in Retail Opportunity Investments during the 4th quarter worth $27,000. First Hawaiian Bank bought a new stake in Retail Opportunity Investments during the 1st quarter valued at $32,000. Oregon Public Employees Retirement Fund bought a new stake in Retail Opportunity Investments during the 4th quarter valued at $43,000. PNC Financial Services Group Inc. boosted its position in Retail Opportunity Investments by 23.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,197 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 603 shares in the last quarter. Finally, Whittier Trust Co. boosted its position in Retail Opportunity Investments by 18.8% during the 4th quarter. Whittier Trust Co. now owns 3,684 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 584 shares in the last quarter. Institutional investors own 94.08% of the company’s stock.
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 December 31, 2018, ROIC owned 91 shopping centers encompassing approximately 10.5 million square feet.
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