Retail Opportunity Investments: Q1 Earnings Snapshot
By AP News
Published - Apr 23, 2024, 05:13 PM ET
Last Updated - Apr 23, 2024, 05:14 PM EDT
SAN DIEGO (AP) — SAN DIEGO (AP) — Retail Opportunity Investments Corp. (ROIC) on Tuesday reported a key measure of profitability in its first quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in San Diego, said it had funds from operations of $37.9 million, or 28 cents per share, in the period.
The average estimate of four 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.
