Retail Opportunity Investing: Q2 Earnings Snapshot

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SAN DIEGO (AP) _ Retail Opportunity Investments Corp. (ROIC) announced a key measure of its second-quarter profitability on Tuesday. The results exceeded Wall Street expectations.

The San Diego-based real estate investment trust said it had operating funds of $36.7 million, or 28 cents per share, during the period.

The average estimate of six analysts polled by Zacks Investment Research was for funds from operations 26 cents per share.

Funds from operations is a closely watched metric in the REIT industry. It takes net income and adds items such as depreciation and amortization.


The company said it had net income of $11.5 million, or 9 cents per share.

The San Diego-based real estate investment trust posted revenue of $78.2 million during the period, which also beat Street’s forecast. Three analysts polled by Zacks expected $74.8 million.

Retail Opportunity Investments expects funds from operations for the full year to be $1.08 to $1.12 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ROIC at https://www.zacks.com/ap/ROIC

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