Wall Street analysts expect that Retail Opportunity Investments Corp (NASDAQ:ROIC) will post $0.23 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Retail Opportunity Investments’ earnings. The lowest EPS estimate is $0.20 and the highest is $0.24. Retail Opportunity Investments posted earnings per share of $0.27 in the same quarter last year, which would indicate a negative year over year growth rate of 14.8%. The business is expected to issue its next earnings report after the market closes on Monday, October 26th.
On average, analysts expect that Retail Opportunity Investments will report full year earnings of $0.99 per share for the current fiscal year, with EPS estimates ranging from $0.93 to $1.03. For the next fiscal year, analysts forecast that the company will report earnings of $1.00 per share, with EPS estimates ranging from $0.96 to $1.03. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Retail Opportunity Investments.
Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.18). The business had revenue of $66.55 million for the quarter, compared to the consensus estimate of $65.02 million. Retail Opportunity Investments had a return on equity of 3.50% and a net margin of 15.53%.
ROIC has been the subject of several analyst reports. Raymond James reissued a “buy” rating on shares of Retail Opportunity Investments in a report on Thursday, August 6th. BMO Capital Markets initiated coverage on shares of Retail Opportunity Investments in a report on Tuesday, July 21st. They set a “hold” rating and a $11.00 price target for the company. JPMorgan Chase & Co. raised shares of Retail Opportunity Investments from an “underweight” rating to a “neutral” rating and set a $11.50 price target for the company in a report on Friday, August 28th. KeyCorp lifted their price target on shares of Retail Opportunity Investments from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Finally, Citigroup lifted their price target on shares of Retail Opportunity Investments from $7.00 to $11.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $12.81.
NASDAQ:ROIC opened at $10.04 on Friday. Retail Opportunity Investments has a 52 week low of $5.84 and a 52 week high of $19.18. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 25.74 and a beta of 1.25. The company has a 50-day moving average of $11.27 and a 200-day moving average of $10.38. The company has a debt-to-equity ratio of 1.23, a quick ratio of 16.69 and a current ratio of 16.69.
A number of institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its stake in Retail Opportunity Investments by 27.3% in the second quarter. PNC Financial Services Group Inc. now owns 5,746 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 1,231 shares in the last quarter. Advisor Group Holdings Inc. acquired a new stake in Retail Opportunity Investments during the 1st quarter valued at approximately $36,000. US Bancorp DE increased its position in Retail Opportunity Investments by 51.1% during the 2nd quarter. US Bancorp DE now owns 9,594 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 3,244 shares during the period. Jane Street Group LLC acquired a new stake in Retail Opportunity Investments during the 1st quarter valued at approximately $86,000. Finally, Nachman Norwood & Parrott Inc acquired a new stake in Retail Opportunity Investments during the 2nd quarter valued at approximately $119,000. 94.37% of the stock is currently owned by institutional investors and hedge funds.
Retail Opportunity Investments Company Profile
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.
Recommended Story: Stock Portfolio Tracker
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
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.