Research Analysts Issue Forecasts for Retail Opportunity Investments Corp.’s Q2 2021 Earnings (NASDAQ:ROIC)

Retail Opportunity Investments Corp. (NASDAQ:ROIC) – Equities researchers at KeyCorp issued their Q2 2021 earnings estimates for Retail Opportunity Investments in a note issued to investors on Wednesday, April 28th. KeyCorp analyst T. Thomas anticipates that the real estate investment trust will post earnings of $0.24 per share for the quarter. KeyCorp also issued estimates for Retail Opportunity Investments’ Q3 2021 earnings at $0.25 EPS, Q4 2021 earnings at $0.25 EPS, Q1 2022 earnings at $0.26 EPS, Q2 2022 earnings at $0.26 EPS, Q3 2022 earnings at $0.26 EPS and Q4 2022 earnings at $0.27 EPS.

Other equities research analysts have also recently issued research reports about the company. Bank of America upgraded Retail Opportunity Investments from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $11.75 to $16.00 in a research note on Tuesday, January 19th. DA Davidson lifted their price target on Retail Opportunity Investments from $12.00 to $18.00 in a research report on Wednesday, February 24th. Wells Fargo & Company lifted their price target on Retail Opportunity Investments from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 23rd. Zacks Investment Research raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Saturday, April 3rd. Finally, Robert W. Baird started coverage on Retail Opportunity Investments in a research report on Tuesday, April 13th. They set an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Retail Opportunity Investments has an average rating of “Hold” and an average target price of $13.56.

ROIC stock opened at $17.69 on Monday. The business has a 50 day moving average price of $16.78 and a 200 day moving average price of $14.50. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 61.00 and a beta of 1.47. Retail Opportunity Investments has a fifty-two week low of $7.49 and a fifty-two week high of $18.10. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 1.12.

Retail Opportunity Investments (NASDAQ:ROIC) last posted its earnings results on Tuesday, April 27th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.18). Retail Opportunity Investments had a return on equity of 2.61% and a net margin of 11.68%.

A number of hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its holdings in Retail Opportunity Investments by 4.5% during the first quarter. Envestnet Asset Management Inc. now owns 43,647 shares of the real estate investment trust’s stock worth $693,000 after acquiring an additional 1,872 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Retail Opportunity Investments during the first quarter worth $914,000. Daiwa Securities Group Inc. grew its holdings in Retail Opportunity Investments by 9.8% during the first quarter. Daiwa Securities Group Inc. now owns 29,129 shares of the real estate investment trust’s stock worth $462,000 after acquiring an additional 2,600 shares during the period. Ground Swell Capital LLC acquired a new position in Retail Opportunity Investments during the first quarter worth $164,000. Finally, Virginia Retirement Systems ET AL grew its holdings in Retail Opportunity Investments by 117.9% during the first quarter. Virginia Retirement Systems ET AL now owns 65,600 shares of the real estate investment trust’s stock worth $1,041,000 after acquiring an additional 35,500 shares during the period. 91.04% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Eric S. Zorn sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, April 30th. The stock was sold at an average price of $17.45, for a total value of $523,500.00. Following the transaction, the director now owns 71,414 shares of the company’s stock, valued at $1,246,174.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.50% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 9th. Stockholders of record on Friday, June 18th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, June 17th. Retail Opportunity Investments’s payout ratio is currently 40.00%.

About Retail Opportunity Investments

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 September 30, 2020, ROIC owned 88 shopping centers encompassing approximately 10.1 million square feet.

See Also: Preferred Stock

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

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