Brokerages Anticipate Retail Opportunity Investments Corp. (NASDAQ:ROIC) Will Post Quarterly Sales of $74.74 Million

Brokerages expect Retail Opportunity Investments Corp. (NASDAQ:ROIC – Get Rating) to announce sales of $74.74 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Retail Opportunity Investments’ earnings, with the highest sales estimate coming in at $75.77 million and the lowest estimate coming in at $74.10 million. Retail Opportunity Investments reported sales of $70.73 million during the same quarter last year, which indicates a positive year over year growth rate of 5.7%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Retail Opportunity Investments will report full year sales of $299.34 million for the current fiscal year, with estimates ranging from $288.94 million to $305.59 million. For the next financial year, analysts expect that the business will report sales of $314.27 million, with estimates ranging from $300.02 million to $328.82 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Retail Opportunity Investments.

Retail Opportunity Investments (NASDAQ:ROIC – Get Rating) last posted its quarterly earnings results on Monday, April 25th. The real estate investment trust reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $75.04 million during the quarter, compared to analysts’ expectations of $73.21 million. Retail Opportunity Investments had a net margin of 19.81% and a return on equity of 4.26%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 EPS.

A number of research firms recently weighed in on ROIC. Wells Fargo & Company increased their price objective on shares of Retail Opportunity Investments from $17.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, April 7th. Capital One Financial reissued an “equal weight” rating on shares of Retail Opportunity Investments in a research report on Monday, April 18th. StockNews.com initiated coverage on shares of Retail Opportunity Investments in a research report on Thursday, March 31st. They issued a “hold” rating for the company. TheStreet raised shares of Retail Opportunity Investments from a “c+” rating to a “b-” rating in a research report on Monday, April 25th. Finally, Zacks Investment Research raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Friday, March 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Retail Opportunity Investments presently has an average rating of “Hold” and an average target price of $20.00.

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC acquired a new stake in shares of Retail Opportunity Investments in the 4th quarter valued at $30,000. Point72 Hong Kong Ltd acquired a new stake in shares of Retail Opportunity Investments in the 4th quarter valued at $52,000. Acadian Asset Management LLC acquired a new stake in shares of Retail Opportunity Investments in the 4th quarter valued at $77,000. Van ECK Associates Corp raised its holdings in shares of Retail Opportunity Investments by 18.2% in the 3rd quarter. Van ECK Associates Corp now owns 5,543 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 853 shares in the last quarter. Finally, LPL Financial LLC acquired a new stake in Retail Opportunity Investments during the 3rd quarter worth $176,000. Institutional investors and hedge funds own 96.17% of the company’s stock.

NASDAQ:ROIC opened at $18.26 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.46 and a current ratio of 1.58. The stock has a market capitalization of $2.25 billion, a P/E ratio of 38.85, a PEG ratio of 3.16 and a beta of 1.45. The company has a 50 day moving average price of $18.96 and a 200 day moving average price of $18.69. Retail Opportunity Investments has a fifty-two week low of $16.47 and a fifty-two week high of $20.09.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 8th. Stockholders of record on Friday, June 17th will be issued a $0.13 dividend. The ex-dividend date is Thursday, June 16th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.85%. Retail Opportunity Investments’s payout ratio is 110.64%.

Retail Opportunity Investments Company Profile (Get Rating)

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 September 30, 2020, ROIC owned 88 shopping centers encompassing approximately 10.1 million square feet.

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