Brokerages Anticipate Retail Opportunity Investments Corp (ROIC) to Post $0.28 EPS

Analysts expect Retail Opportunity Investments Corp (NASDAQ:ROIC) to report $0.28 earnings per share for the current quarter, Zacks reports. Six analysts have provided estimates for Retail Opportunity Investments Corp’s earnings, with the highest EPS estimate coming in at $0.29 and the lowest estimate coming in at $0.27. Retail Opportunity Investments Corp reported earnings per share of $0.27 in the same quarter last year, which suggests a positive year over year growth rate of 3.7%. The business is scheduled to issue its next quarterly earnings report on Wednesday, July 26th.

On average, analysts expect that Retail Opportunity Investments Corp will report full year earnings of $1.13 per share for the current financial year, with EPS estimates ranging from $1.11 to $1.15. For the next financial year, analysts forecast that the company will report earnings of $1.21 per share, with EPS estimates ranging from $1.17 to $1.24. Zacks’ EPS calculations are an average based on a survey of research firms that follow Retail Opportunity Investments Corp.

Retail Opportunity Investments Corp (NASDAQ:ROIC) last released its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The company earned $65.90 million during the quarter, compared to analysts’ expectations of $62.86 million. Retail Opportunity Investments Corp had a net margin of 13.33% and a return on equity of 2.49%. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 earnings per share.

A number of brokerages recently issued reports on ROIC. Zacks Investment Research upgraded shares of Retail Opportunity Investments Corp from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday. Canaccord Genuity reiterated a “buy” rating and issued a $26.00 price objective on shares of Retail Opportunity Investments Corp in a report on Thursday. Finally, FBR & Co reiterated a “hold” rating and issued a $23.00 price objective (up previously from $22.00) on shares of Retail Opportunity Investments Corp in a report on Tuesday, February 28th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $23.50.

In other Retail Opportunity Investments Corp news, Director Charles J. Persico sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $22.25, for a total transaction of $111,250.00. Following the completion of the transaction, the director now owns 19,863 shares in the company, valued at approximately $441,951.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.30% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROIC. BlackRock Fund Advisors raised its position in Retail Opportunity Investments Corp by 16.7% in the third quarter. BlackRock Fund Advisors now owns 7,421,994 shares of the real estate investment trust’s stock valued at $162,987,000 after buying an additional 1,060,970 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Retail Opportunity Investments Corp by 21.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 4,610,780 shares of the real estate investment trust’s stock valued at $101,253,000 after buying an additional 828,285 shares during the last quarter. State Street Corp raised its position in Retail Opportunity Investments Corp by 2.3% in the fourth quarter. State Street Corp now owns 3,877,682 shares of the real estate investment trust’s stock valued at $81,941,000 after buying an additional 88,886 shares during the last quarter. Hermes Investment Management Ltd. raised its position in Retail Opportunity Investments Corp by 1.8% in the first quarter. Hermes Investment Management Ltd. now owns 2,051,014 shares of the real estate investment trust’s stock valued at $43,133,000 after buying an additional 36,627 shares during the last quarter. Finally, Northern Trust Corp raised its position in Retail Opportunity Investments Corp by 9.7% in the third quarter. Northern Trust Corp now owns 1,736,818 shares of the real estate investment trust’s stock valued at $38,140,000 after buying an additional 154,139 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Retail Opportunity Investments Corp (NASDAQ:ROIC) traded down 1.95% on Thursday, hitting $20.60. 740,162 shares of the stock traded hands. Retail Opportunity Investments Corp has a 1-year low of $18.45 and a 1-year high of $23.05. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 66.03 and a beta of 0.58. The stock has a 50-day moving average price of $21.13 and a 200 day moving average price of $20.86.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.1875 per share. The ex-dividend date is Tuesday, June 13th. This represents a $0.75 annualized dividend and a yield of 3.64%. Retail Opportunity Investments Corp’s payout ratio is 180.00%.

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About Retail Opportunity Investments Corp

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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