Retail Opportunity Investments (ROIC) Tops Q1 EPS by 1c, Beats on Revenues

Retail Opportunity Investments (NASDAQ: ROIC) reported Q1 EPS of $0.09, $0.01 better than the analyst estimate of $0.08. Revenue for the quarter came in at $74.4 million versus the consensus estimate of $72.42 million.

HIGHLIGHTS

• $10.7 million of net income attributable to common stockholders ($0.09 per diluted share)
• $37.0 million of Funds From Operations(1) ($0.30 per diluted share)
• 97.4% portfolio lease rate at March 31, 2018 (15th consecutive quarter at or above 97%)
• 424,342 square feet of leases executed (record first quarter activity)
• 21.6% increase in same-space comparative cash rents on new leases (8.3% on renewals)
• 2.4% increase in same-center cash net operating income (1Q’18 vs. 1Q’17)
• $19.0 million grocery-anchored shopping center acquired
• $10.1 million mortgage retired (93.6% of portfolio GLA unencumbered at March 31, 2018)
• $0.1950 per share quarterly cash dividend paid

For earnings history and earnings-related data on Retail Opportunity Investments (ROIC) click here.

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