Analysts Anticipate Retail Opportunity Investments Corp. (NASDAQ:ROIC) Will Post Quarterly Sales of $68.60 Million

Wall Street brokerages forecast that Retail Opportunity Investments Corp. (NASDAQ:ROIC) will post sales of $68.60 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Retail Opportunity Investments’ earnings, with the highest sales estimate coming in at $69.40 million and the lowest estimate coming in at $67.85 million. Retail Opportunity Investments posted sales of $66.55 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.1%. The business is scheduled to issue its next quarterly earnings results on Wednesday, August 4th.

According to Zacks, analysts expect that Retail Opportunity Investments will report full year sales of $278.46 million for the current year, with estimates ranging from $276.34 million to $279.64 million. For the next year, analysts anticipate that the company will post sales of $288.24 million, with estimates ranging from $285.90 million to $289.99 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Retail Opportunity Investments.

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

Several research analysts have recently commented on ROIC shares. Zacks Investment Research raised shares of Retail Opportunity Investments from a “sell” rating to a “hold” rating in a report on Saturday, April 3rd. Wells Fargo & Company boosted their target price on shares of Retail Opportunity Investments from $14.00 to $15.00 and gave the company an “underweight” rating in a report on Tuesday, March 23rd. DA Davidson lifted their price target on shares of Retail Opportunity Investments from $12.00 to $18.00 in a research note on Wednesday, February 24th. Bank of America raised shares of 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 report on Tuesday, January 19th. Finally, Robert W. Baird started coverage on shares of Retail Opportunity Investments in a report on Tuesday, April 13th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $13.64.

In related news, Director Eric S. Zorn sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, April 30th. The shares were sold at an average price of $17.45, for a total transaction of $523,500.00. Following the sale, the director now owns 71,414 shares of the company’s stock, valued at approximately $1,246,174.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Several large investors have recently modified their holdings of ROIC. The PNC Financial Services Group Inc. grew its holdings in shares of Retail Opportunity Investments by 9.5% during the 1st quarter. The PNC Financial Services Group Inc. now owns 6,691 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 581 shares during the last quarter. Signaturefd LLC lifted its position in shares of Retail Opportunity Investments by 40.7% in the 4th quarter. Signaturefd LLC now owns 2,757 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 797 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of Retail Opportunity Investments by 0.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 91,600 shares of the real estate investment trust’s stock worth $1,227,000 after purchasing an additional 800 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Retail Opportunity Investments by 1.9% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 48,004 shares of the real estate investment trust’s stock worth $762,000 after purchasing an additional 900 shares during the period. Finally, Mutual of America Capital Management LLC lifted its position in shares of Retail Opportunity Investments by 7.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 15,775 shares of the real estate investment trust’s stock worth $250,000 after purchasing an additional 1,058 shares during the period. 91.04% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Retail Opportunity Investments stock traded down $0.09 during trading hours on Wednesday, reaching $17.48. 518,688 shares of the company’s stock were exchanged, compared to its average volume of 1,039,391. Retail Opportunity Investments has a fifty-two week low of $8.56 and a fifty-two week high of $18.26. The stock has a market cap of $2.08 billion, a P/E ratio of 60.28 and a beta of 1.47. The company has a 50 day moving average of $17.10 and a two-hundred day moving average of $14.97. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 1.12.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 9th. Investors of record on Friday, June 18th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, June 17th. Retail Opportunity Investments’s dividend payout ratio (DPR) is presently 40.00%.

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

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