Retail Opportunity Investments (ROIC) Misses Q2 EPS by 1c, Revenues Miss

Retail Opportunity Investments (NASDAQ: ROIC) reported Q2 EPS of $0.06, $0.01 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $72.34 million versus the consensus estimate of $73.15 million.

Stuart A. Tanz, President and Chief Executive Officer of Retail Opportunity Investments Corp. stated, “During the second quarter, demand for space across our portfolio continued to be strong, coming from a broad range of necessity-based retailers. We continued to maintain our portfolio at over 97% leased, ending the second quarter specifically at a strong, 97.5%. Additionally, for the 26th consecutive quarter, we achieved growth in our key same-center and same-space comparative operating metrics. During the second quarter, we grew same-center cash NOI by 2.8% and achieved a 20.4% increase in same-space cash rents on new leases.” Tanz added, “Looking ahead, with the current leasing activity and momentum across our portfolio, we are on track to continue achieving solid portfolio operational results as we progress through the second half of 2018.”

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

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