$69.89 Million in Sales Expected for Retail Opportunity Investments Corp. (NASDAQ:ROIC) This Quarter
Brokerages expect that Retail Opportunity Investments Corp. (NASDAQ:ROIC) will announce $69.89 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Retail Opportunity Investments’ earnings. The lowest sales estimate is $68.73 million and the highest is $70.72 million. Retail Opportunity Investments reported sales of $73.62 million during the same quarter last year, which would suggest a negative year over year growth rate of 5.1%. The company is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, February 23rd.
On average, analysts expect that Retail Opportunity Investments will report full year sales of $281.11 million for the current year, with estimates ranging from $277.73 million to $282.86 million. For the next year, analysts anticipate that the firm will report sales of $279.01 million, with estimates ranging from $275.18 million to $281.14 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Retail Opportunity Investments.
Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings results on Saturday, October 31st. The real estate investment trust reported $0.06 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.17). Retail Opportunity Investments had a net margin of 15.53% and a return on equity of 3.50%.
A number of analysts recently issued reports on the stock. BidaskClub lowered shares of Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research report on Friday, December 18th. Wells Fargo & Company lowered shares of Retail Opportunity Investments from an “equal weight” rating to an “underweight” rating and raised their target price for the stock from $9.00 to $14.00 in a research report on Thursday, December 10th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $12.94.
Hedge funds have recently modified their holdings of the company. Adelante Capital Management LLC raised its stake in shares of Retail Opportunity Investments by 4.1% in the 3rd quarter. Adelante Capital Management LLC now owns 3,125,554 shares of the real estate investment trust’s stock valued at $32,553,000 after acquiring an additional 123,726 shares during the period. Strs Ohio increased its stake in Retail Opportunity Investments by 0.5% during the 3rd quarter. Strs Ohio now owns 180,334 shares of the real estate investment trust’s stock worth $1,878,000 after buying an additional 861 shares during the period. Truist Financial Corp increased its stake in Retail Opportunity Investments by 11.6% during the 3rd quarter. Truist Financial Corp now owns 147,494 shares of the real estate investment trust’s stock worth $1,536,000 after buying an additional 15,277 shares during the period. Bank of America Corp DE increased its stake in Retail Opportunity Investments by 10.3% during the 2nd quarter. Bank of America Corp DE now owns 334,982 shares of the real estate investment trust’s stock worth $3,795,000 after buying an additional 31,297 shares during the period. Finally, New York State Common Retirement Fund increased its stake in Retail Opportunity Investments by 21.2% during the 2nd quarter. New York State Common Retirement Fund now owns 122,578 shares of the real estate investment trust’s stock worth $1,389,000 after buying an additional 21,478 shares during the period. 94.37% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ ROIC traded down $0.03 during mid-day trading on Tuesday, reaching $12.87. 1,222,030 shares of the stock were exchanged, compared to its average volume of 1,064,838. Retail Opportunity Investments has a 1-year low of $5.84 and a 1-year high of $17.62. The business’s fifty day simple moving average is $13.56 and its 200 day simple moving average is $11.61. The stock has a market capitalization of $1.52 billion, a PE ratio of 32.99 and a beta of 1.28. The company has a debt-to-equity ratio of 1.23, a quick ratio of 16.69 and a current ratio of 16.69.
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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