Zacks: Brokerages Anticipate Retail Opportunity Investments Corp (NASDAQ:ROIC) to Announce $0.29 Earnings Per Share

Wall Street brokerages forecast that Retail Opportunity Investments Corp (NASDAQ:ROIC) will post $0.29 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Retail Opportunity Investments’ earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at $0.28. Retail Opportunity Investments also reported earnings per share of $0.29 during the same quarter last year. The company is scheduled to issue its next earnings report after the market closes on Tuesday, February 18th.

According to Zacks, analysts expect that Retail Opportunity Investments will report full-year earnings of $1.10 per share for the current financial year, with EPS estimates ranging from $1.10 to $1.11. For the next financial year, analysts forecast that the company will report earnings of $1.15 per share, with EPS estimates ranging from $1.13 to $1.16. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow Retail Opportunity Investments.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.12). Retail Opportunity Investments had a return on equity of 3.81% and a net margin of 16.59%. The company had revenue of $72.44 million during the quarter, compared to analysts’ expectations of $73.90 million. During the same quarter in the prior year, the company earned $0.28 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year.

ROIC has been the subject of several analyst reports. Capital One Financial upgraded shares of Retail Opportunity Investments from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $19.00 to $21.00 in a research note on Wednesday, October 23rd. Zacks Investment Research downgraded shares of Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. BidaskClub upgraded shares of Retail Opportunity Investments from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 8th. Finally, Raymond James cut shares of Retail Opportunity Investments from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $20.00 to $19.00 in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Retail Opportunity Investments has a consensus rating of “Hold” and an average price target of $19.33.

In other Retail Opportunity Investments news, COO Richard K. Schoebel sold 54,325 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $86.51, for a total transaction of $4,699,655.75. Also, COO Richard K. Schoebel sold 6,000 shares of Retail Opportunity Investments stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $18.08, for a total value of $108,480.00. The disclosure for this sale can be found here. Insiders have sold 133,600 shares of company stock valued at $6,170,647 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mason Street Advisors LLC boosted its holdings in Retail Opportunity Investments by 1.7% in the third quarter. Mason Street Advisors LLC now owns 38,815 shares of the real estate investment trust’s stock worth $708,000 after purchasing an additional 658 shares during the period. Versant Capital Management Inc raised its holdings in shares of Retail Opportunity Investments by 169.1% during the third quarter. Versant Capital Management Inc now owns 1,499 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 942 shares during the period. Whittier Trust Co. lifted its position in shares of Retail Opportunity Investments by 1.3% in the 3rd quarter. Whittier Trust Co. now owns 76,091 shares of the real estate investment trust’s stock worth $1,386,000 after buying an additional 952 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Retail Opportunity Investments by 3.2% in the 3rd quarter. Gamco Investors INC. ET AL now owns 32,400 shares of the real estate investment trust’s stock worth $591,000 after buying an additional 1,000 shares during the last quarter. Finally, 6 Meridian boosted its holdings in shares of Retail Opportunity Investments by 4.2% in the 4th quarter. 6 Meridian now owns 31,298 shares of the real estate investment trust’s stock valued at $553,000 after buying an additional 1,270 shares during the period. Institutional investors and hedge funds own 91.55% of the company’s stock.

Shares of NASDAQ ROIC traded up $0.10 during trading on Friday, reaching $17.24. 868,012 shares of the stock were exchanged, compared to its average volume of 1,043,925. The business’s 50-day moving average price is $17.44 and its 200 day moving average price is $17.91. Retail Opportunity Investments has a twelve month low of $16.46 and a twelve month high of $19.18. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 4.67 and a beta of 0.66.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were paid a dividend of $0.197 per share. This represents a $0.79 annualized dividend and a dividend yield of 4.57%. The ex-dividend date was Friday, December 13th. Retail Opportunity Investments’s dividend payout ratio (DPR) is currently 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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