Retail REIT, ROIC, Reports Solid Quarter

SAN DIEGO—Locally based Retail Opportunity Investments Corp. reported another solid quarter, led by 10.5% FFO/sh growth, 4.3% ss-NOI growth (despite a difficult +8% comp in 1Q13), and $112 million of YTD acquisitions. According to MLV & Co. analysts, management continues to source “attractive deals in core West Coast markets, including Portland, San Diego, Seattle, and Silicon Valley this year—in these highly competitive markets, deal acumen and relationships remain a key ROIC strength.”

With only 3.8 million warrants outstanding, the company’s capital structure is now stronger and simpler, says MLV & Co., which supports the firm’s buy rating and $18 price target.