Retail Opportunity Investments (NASDAQ:ROIC) Announces Quarterly Earnings Results, Hits Expectations

Retail Opportunity Investments (NASDAQ:ROIC) issued its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $0.29 earnings per share for the quarter, hitting the consensus estimate of $0.29, Briefing.com reports. Retail Opportunity Investments had a return on equity of 3.46% and a net margin of 15.22%. The firm had revenue of $76.05 million for the quarter, compared to the consensus estimate of $75.31 million. During the same period in the prior year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Retail Opportunity Investments updated its FY 2019 guidance to $1.11-1.15 EPS and its FY19 guidance to $1.11-1.15 EPS.

ROIC opened at $17.54 on Friday. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 3.65 and a beta of 0.72. Retail Opportunity Investments has a 52 week low of $15.44 and a 52 week high of $19.80. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 1.14.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be issued a dividend of $0.197 per share. The ex-dividend date is Wednesday, June 12th. This represents a $0.79 annualized dividend and a yield of 4.49%. Retail Opportunity Investments’s payout ratio is currently 69.30%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its position in Retail Opportunity Investments by 18.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,780 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 583 shares in the last quarter. Whittier Trust Co. boosted its position in shares of Retail Opportunity Investments by 18.8% in the 4th quarter. Whittier Trust Co. now owns 3,684 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 584 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Retail Opportunity Investments by 1.5% in the 4th quarter. Stifel Financial Corp now owns 43,408 shares of the real estate investment trust’s stock worth $691,000 after purchasing an additional 654 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Retail Opportunity Investments by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 44,146 shares of the real estate investment trust’s stock worth $765,000 after purchasing an additional 797 shares in the last quarter. Finally, Advisor Group Inc. boosted its position in shares of Retail Opportunity Investments by 6.6% in the 4th quarter. Advisor Group Inc. now owns 14,089 shares of the real estate investment trust’s stock worth $224,000 after purchasing an additional 871 shares in the last quarter. 94.26% of the stock is currently owned by institutional investors and hedge funds.

ROIC has been the topic of several recent analyst reports. BMO Capital Markets reiterated a “hold” rating and issued a $18.00 price target on shares of Retail Opportunity Investments in a report on Tuesday, February 19th. BidaskClub upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Finally, Zacks Investment Research upgraded Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $18.00.

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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.

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Earnings History for Retail Opportunity Investments (NASDAQ:ROIC)

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