Retail Opportunity Investments Corp (ROIC) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.27 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.26. The company posted revenue of $58.70 million in the period, compared to analysts expectations of $57.61 million. The company’s revenue was up 27.1% compared to the same quarter last year.
Many Wall Street Analysts have commented on Retail Opportunity Investments Corp. RBC Capital Mkts Initiated Retail Opportunity Investments Corp on Jun 14, 2016 to “Sector Perform”, Price Target of the shares are set at $20.
Retail Opportunity Investments Corp opened for trading at $22.45 and hit $22.74 on the upside on Thursday, eventually ending the session at $22.64, with a gain of 1.25% or 0.28 points. The heightened volatility saw the trading volume jump to 7,90,767 shares. Company has a market cap of $2,267 M.
Retail Opportunity Investments Corp. (ROIC) is an integrated self-managed real estate investment trust (REIT). The Company is engaged in the ownership management and redevelopment of retail real estate properties. The Company also operates 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. The Company focuses on acquiring shopping centers located in densely populated supply-constrained metropolitan markets in the western regions of the United States. The Company also focuses on acquiring necessity-based community and neighborhood shopping centers anchored by national and regional supermarkets and drugstores. The Companys wholly-owned subsidiary Retail Opportunity Investments GP LLC is the general partner of the Operating Partnership.