Retail Opportunity Investments Corp. (ROIC) Expected to Post Quarterly Sales of $68.69 Million

Wall Street brokerages forecast that Retail Opportunity Investments Corp. (NASDAQ:ROIC) will report $68.69 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Retail Opportunity Investments Corp.’s earnings, with the lowest sales estimate coming in at $66.08 million and the highest estimate coming in at $70.58 million. Retail Opportunity Investments Corp. posted sales of $59.35 million in the same quarter last year, which suggests a positive year over year growth rate of 15.7%. The company is expected to issue its next quarterly earnings results after the market closes on Tuesday, October 24th.

According to Zacks, analysts expect that Retail Opportunity Investments Corp. will report full-year sales of $68.69 million for the current fiscal year, with estimates ranging from $265.31 million to $277.04 million. For the next fiscal year, analysts forecast that the firm will report sales of $309.09 million per share, with estimates ranging from $287.49 million to $322.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Retail Opportunity Investments Corp..

Retail Opportunity Investments Corp. (NASDAQ:ROIC) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). The company had revenue of $66.64 million during the quarter, compared to analyst estimates of $66.18 million. Retail Opportunity Investments Corp. had a net margin of 13.92% and a return on equity of 2.71%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 EPS.

Several analysts recently commented on the company. Zacks Investment Research cut Retail Opportunity Investments Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Jefferies Group LLC cut Retail Opportunity Investments Corp. from a “buy” rating to a “hold” rating and lowered their target price for the company from $25.00 to $21.00 in a research report on Friday, September 15th. Royal Bank Of Canada restated a “hold” rating and issued a $23.00 target price on shares of Retail Opportunity Investments Corp. in a research report on Thursday, July 27th. BidaskClub upgraded Retail Opportunity Investments Corp. from a “sell” rating to a “hold” rating in a research report on Sunday, July 16th. Finally, FBR & Co set a $23.00 target price on Retail Opportunity Investments Corp. and gave the company a “hold” rating in a research report on Wednesday, October 11th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $22.14.

Retail Opportunity Investments Corp. (NASDAQ:ROIC) traded down 1.68% on Tuesday, hitting $18.74. The stock had a trading volume of 855,182 shares. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 58.02 and a beta of 0.68. Retail Opportunity Investments Corp. has a 12-month low of $18.45 and a 12-month high of $22.37. The company’s 50 day moving average price is $19.40 and its 200-day moving average price is $20.00.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 14th were given a $0.188 dividend. This is a boost from Retail Opportunity Investments Corp.’s previous quarterly dividend of $0.19. This represents a $0.75 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend was Wednesday, September 13th. Retail Opportunity Investments Corp.’s dividend payout ratio (DPR) is currently 227.28%.

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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new position in shares of Retail Opportunity Investments Corp. during the 2nd quarter valued at $530,000. Public Employees Retirement System of Ohio increased its position in shares of Retail Opportunity Investments Corp. by 72.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 209,841 shares of the real estate investment trust’s stock valued at $4,027,000 after purchasing an additional 87,878 shares during the period. Verition Fund Management LLC acquired a new position in shares of Retail Opportunity Investments Corp. during the 2nd quarter valued at $704,000. Piedmont Investment Advisors LLC acquired a new position in shares of Retail Opportunity Investments Corp. during the 2nd quarter valued at $455,000. Finally, Sterling Capital Management LLC acquired a new position in shares of Retail Opportunity Investments Corp. during the 2nd quarter valued at $1,343,000. Hedge funds and other institutional investors own 94.92% of the company’s stock.

Retail Opportunity Investments Corp. 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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Earnings History and Estimates for Retail Opportunity Investments Corp. (NASDAQ:ROIC)

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