Retail Opportunity Investments: 4Q Earnings Snapshot
{{#rendered}} {{/rendered}}SAN DIEGO (AP) _ Retail Opportunity Investments Corp. (ROIC) on Tuesday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.
The San Diego-based real estate investment trust said it had funds from operations of $36.5 million, or 29 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 29 cents per share.
{{#rendered}} {{/rendered}}Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $10.5 million, or 9 cents per share.
The real estate investment trust posted revenue of $75.2 million in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $74.3 million.
{{#rendered}} {{/rendered}}Retail Opportunity Investments expects full-year funds from operations to be $1.11 to $1.15 per share.
The company's shares have risen 12 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $17.80, a climb of 1 percent in the last 12 months.
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{{#rendered}} {{/rendered}}This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on ROIC at https://www.zacks.com/ap/ROIC