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Retail Opportunity Investments (ROIC)
:ROIC
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Earnings Data
Report Date
Feb 25, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.06Last Year’s EPS
0.06Same Quarter Last Year
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2018
|% Change Since: 12.36%
|Next Earnings Date:Jul 25, 2018
Earnings Call Sentiment|Neutral
The call presented a mix of strong leasing activity and successful property transactions, offset by challenges such as a decline in same-center NOI, higher interest expenses, and the upcoming need to refinance debt. Despite a solid operational performance, financial pressures and lowered guidance have created a cautious outlook.Company Guidance
During Retail Opportunity Investments Corp's third-quarter 2024 earnings call, the company reported a strong portfolio lease rate of 97.1%, with over 1.2 million square feet leased in the first nine months of the year. The company has sold two properties for $69 million at a low 6% blended exit cap rate and acquired a shopping center for $70 million at a high 6% cap rate. GAAP net income was $32.1 million, and FFO stood at $33.2 million, both translating to $0.25 per diluted share. The company is projecting full-year 2024 FFO per diluted share to be in the range of $1.03 to $1.05. Same-center NOI increased by 1.5% for the first nine months of 2024, with expectations of 1% to 2% growth year-over-year. The company is also preparing for an active fourth quarter, aiming to complete an anchor re-leasing initiative and refinance $250 million in senior notes maturing in December.High Portfolio Lease Rate
The portfolio lease rate has been consistently above 96% for the past 10 years and stands at 97.1% as of the third quarter.
Significant Leasing Activity
Over 1.2 million square feet of space leased in the first 9 months of 2024, with 450,000 square feet in the third quarter alone.
Successful Property Transactions
Sold two properties for $69 million with a blended exit cap rate in the low 6% range and acquired a dual grocery-anchored shopping center for $70 million at a high 6% cap rate.
Lease Renewals and Rent Growth
Achieved a 14% cash increase on new leasing activity and a 7% increase on renewal activity during the third quarter.
Incremental Rent from New Tenants
New tenants representing $7 million of incremental base rent at the beginning of 2024, with $4.6 million now open and paying rent.
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ROIC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ROIC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 22, 2024 | $15.53 | $15.75 | +1.42% |
| Jul 23, 2024 | $13.24 | $12.65 | -4.46% |
| Apr 23, 2024 | $12.16 | $12.03 | -1.07% |
| Feb 14, 2024 | $12.38 | $12.31 | -0.57% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Retail Opportunity Investments (ROIC) report earnings?
Retail Opportunity Investments (ROIC) is schdueled to report earning on Feb 25, 2025, TBA Not Confirmed.
What is Retail Opportunity Investments (ROIC) earnings time?
Retail Opportunity Investments (ROIC) earnings time is at Feb 25, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ROIC EPS forecast?
ROIC EPS forecast for the fiscal quarter 2024 (Q4) is 0.06.
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