Retail Opportunity Investments: Q4 Earnings Snapshot
SAN DIEGO (AP) _ Retail Opportunity Investments Corp. (ROIC) on Wednesday reported a key measure of profitability in its fourth quarter. The results did not meet Wall Street expectations.
The real estate investment trust, based in San Diego, said it had funds from operations of $32 million, or 25 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 26 cents per share.
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 $8.5 million, or 7 cents per share.
The real estate investment trust, based in San Diego, posted revenue of $72.8 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $72.4 million.
For the year, the company reported funds from operations of $124.1 million. Revenue was reported as $284.1 million.
Retail Opportunity Investments expects full-year funds from operations to be $1.02 to $1.08 per share.