Retail Opportunity Investments (ROIC) Tops Q4 EPS by 1c, Revenues Beat; Offers FY19 EPS Guidance Above Consensus

Retail Opportunity Investments (NASDAQ: ROIC) reported Q4 EPS of $0.09, $0.01 better than the analyst estimate of $0.08. Revenue for the quarter came in at $75.16 million versus the consensus estimate of $74.59 million.

Stuart A. Tanz, President and Chief Executive Officer of Retail Opportunity Investments Corp. stated, “During 2018, we again achieved strong, record-setting results with property operations. We leased a record 1.5 million square feet during the year, more than double the amount of space originally scheduled to expire. For the fifth consecutive year we achieved a portfolio lease rate above 97%, ending 2018 at a new record high year-end rate of 97.7%. Additionally, for the seventh consecutive year, we achieved same-center NOI growth, along with again achieving strong, double-digit growth in our releasing spreads, specifically a 21.7% increase on new leases.” Tanz also commented, “During 2018, we embarked on several key initiatives aimed at enhancing the long-term intrinsic value and competitive strength of the company’s portfolio, most notably focusing on disposing non-core properties and identifying densification opportunities. Additionally, in terms of balance sheet initiatives, during 2018 we raised equity, reduced secured debt and enhanced our debt maturity schedule.”

GUIDANCE:

Retail Opportunity Investments sees FY2019 EPS of $0.40-$0.44, versus the consensus of $0.33.

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

You May Also Be Interested In

• FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
• Cal-Maine Foods adds two independent directors, expanding board to ten
• KB Home (KBH) Misses Q2 EPS by 2c; Offers Outlook