This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Retail Opportunity Investments Corp. Reports Fourth Quarter 2010 Results

CASH DIVIDEND

ROIC's Board of Directors has declared a cash dividend on its common stock of $0.08 per share, to record holders on March 15, 2011 and payable on March 31, 2011. The $0.08 per share dividend represents a 33.3% increase over ROIC's most recent cash dividend, paid on December 15, 2010.

2011 FFO & DIVIDEND GUIDANCE

ROIC's currently estimates that FFO for 2011 will be within the range of $0.50 to $0.60 per diluted share, and net income will be within the range of $0.15 to $0.20 per diluted share. The following table provides a reconciliation of GAAP net income to FFO.

  For the year ending December 31, 2011
  (In thousands, except per share amounts)
  Low End High End
Net income for period $ 6,250 $  8,500
Plus:    
 Depreciation and Amortization    14,500   16,500
Funds From Operations (FFO)    20,750    25,000
Plus: Acquisition transaction costs   2,000    2,750
Modified Funds From Operations (MFFO) $ 22,750 $ 27,750
     
Earnings per share (dilutive) $  0.15 $ 0.20
FFO per share (dilutive) $ 0.50 $ 0.60
MFFO per share (dilutive) $ 0.54 $ 0.66

ROIC intends to distribute cash dividends on its common stock during 2011 in an amount approximately equivalent to 70% to 80% of estimated FFO. ROIC's estimates are based on numerous critical assumptions, including, but not limited, completing approximately $350.0 million of shopping center investments during 2011. ROIC management will discuss its estimates and underlying assumptions on the company's February 23, 2011 conference call (see information below). ROIC's guidance is a forward-looking statement and is subject to risks and other factors described elsewhere in this press release.

4 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,985.15 -85.25 -0.47%
S&P 500 2,097.80 -16.69 -0.79%
NASDAQ 4,950.6330 -66.2960 -1.32%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs