Brokerages forecast that Retail Opportunity Investments Corp (NASDAQ:ROIC) will report earnings per share of $0.29 for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Retail Opportunity Investments’ earnings, with estimates ranging from $0.28 to $0.30. Retail Opportunity Investments posted earnings of $0.27 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.4%. The business is scheduled to announce its next earnings results after the market closes on Wednesday, February 21st.
On average, analysts expect that Retail Opportunity Investments will report full year earnings of $1.13 per share for the current fiscal year, with EPS estimates ranging from $1.12 to $1.14. For the next fiscal year, analysts forecast that the business will post earnings of $1.21 per share, with EPS estimates ranging from $1.19 to $1.23. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Retail Opportunity Investments.
Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.21). Retail Opportunity Investments had a net margin of 14.13% and a return on equity of 2.86%. The company had revenue of $67.97 million for the quarter, compared to analyst estimates of $68.34 million. During the same quarter in the previous year, the business posted $0.26 earnings per share. Retail Opportunity Investments’s revenue was up 14.5% on a year-over-year basis.
A number of research analysts have recently weighed in on the stock. BidaskClub cut shares of Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Investment Research cut shares of Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research note on Wednesday. Jefferies Group set a $20.00 price objective on shares of Retail Opportunity Investments and gave the stock a “hold” rating in a research note on Tuesday, October 31st. Royal Bank of Canada reissued a “buy” rating and set a $22.00 price objective on shares of Retail Opportunity Investments in a research note on Monday, October 30th. Finally, Citigroup dropped their price objective on shares of Retail Opportunity Investments from $20.50 to $20.00 and set a “neutral” rating for the company in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.00.
Retail Opportunity Investments (NASDAQ:ROIC) opened at $18.76 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.64 and a current ratio of 1.64. Retail Opportunity Investments has a 12 month low of $17.87 and a 12 month high of $22.37. The firm has a market cap of $2,058.53, a P/E ratio of 55.18, a PEG ratio of 2.29 and a beta of 0.68.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th were paid a $0.188 dividend. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a $0.75 annualized dividend and a yield of 4.01%. Retail Opportunity Investments’s payout ratio is currently 220.59%.
A number of hedge funds have recently added to or reduced their stakes in ROIC. Schwab Charles Investment Management Inc. grew its stake in Retail Opportunity Investments by 6.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,021,941 shares of the real estate investment trust’s stock worth $19,612,000 after acquiring an additional 63,138 shares during the period. SG Americas Securities LLC grew its stake in Retail Opportunity Investments by 77.6% in the 2nd quarter. SG Americas Securities LLC now owns 10,965 shares of the real estate investment trust’s stock worth $210,000 after acquiring an additional 4,790 shares during the period. Wells Fargo & Company MN grew its stake in Retail Opportunity Investments by 120.5% in the 2nd quarter. Wells Fargo & Company MN now owns 487,599 shares of the real estate investment trust’s stock worth $9,357,000 after acquiring an additional 266,464 shares during the period. Alliancebernstein L.P. grew its stake in Retail Opportunity Investments by 22.9% in the 2nd quarter. Alliancebernstein L.P. now owns 904,525 shares of the real estate investment trust’s stock worth $17,358,000 after acquiring an additional 168,286 shares during the period. Finally, Riverhead Capital Management LLC grew its stake in Retail Opportunity Investments by 55.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,327 shares of the real estate investment trust’s stock worth $141,000 after acquiring an additional 2,627 shares during the period. 97.38% of the stock is owned by hedge funds and other institutional investors.
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Retail Opportunity Investments Company Profile
Retail Opportunity Investments Corp. (ROIC) is a fully integrated, self-managed real estate investment trust (REIT). The Company specializes in the acquisition, ownership and management of necessity-based community and neighborhood shopping centers on the west coast of the United States, anchored by supermarkets and drugstores.
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