Brokerages Anticipate Retail Opportunity Investments Corp. (NASDAQ:ROIC) Will Post Quarterly Sales of $74.74 Million4 min read
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.
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
Want More Great Investing Ideas?
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.