Retail Opportunity Investments Corp.                 TRADED: NASDAQ: ROIC
11250 El Camino Real, Suite 200
San Diego, CA 92130        

FOR IMMEDIATE RELEASE
Wednesday, April 24, 2019

Retail Opportunity Investments Corp. Reports
2019 First Quarter Results
San Diego, CA, April 24, 2019 - Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today financial and operating results for the three months ended March 31, 2019.
HIGHLIGHTS
$13.3 million of net income attributable to common stockholders ($0.12 per diluted share)
$36.7 million of Funds From Operations (FFO)(1) ($0.29 per diluted share)
97.8% portfolio lease rate at March 31, 2019 (19th consecutive quarter at or above 97%)
30.7% increase in same-space comparative cash rents on new leases (12.4% on renewals)
2.9% increase in same-center cash net operating income (1Q‘19 vs. 1Q‘18)
$17.0 million property disposition ($2.6 million gain on sale)
$57.0 million of property dispositions lined up for sale
$0.1970 per share quarterly cash dividend paid
2019 FFO guidance range reaffirmed ($1.11 - $1.15 per diluted share)
________________________________________
(1) A reconciliation of GAAP net income to FFO is provided at the end of this press release.
Stuart A. Tanz, President and Chief Executive Officer of Retail Opportunity Investments Corp. stated, “Property operations and leasing continue to propel our business forward. We achieved a record-high first quarter portfolio lease rate of 97.8% and a record-high first quarter same-space cash rent increase on new leases of 30.7%. We also achieved a solid 2.9% increase in same-center cash NOI. In terms of strategic initiatives, we are making good progress with disposing of non-core properties. We sold one property during the first quarter and have three more currently lined up for sale, which all together total approximately $74 million. Additionally, with respect to our initial property densification efforts, the entitlement process is moving forward steadily.” Tanz concluded, “With our accomplishments to date, we are off to a solid start in 2019 and firmly on track to achieve our stated objectives for the year.”
FINANCIAL SUMMARY
For the three months ended March 31, 2019, GAAP net income attributable to common stockholders was $13.3 million, or $0.12 per diluted share, as compared to GAAP net income attributable to common stockholders of $10.7 million, or $0.09 per diluted share, for the three months ended March 31, 2018. Included in GAAP net income for the first quarter of 2019 was a $2.6 million gain on sale in connection with a property disposition. FFO for the first quarter of 2019 was $36.7 million, or $0.29 per diluted share, as compared to $37.0 million in FFO, or $0.30 per diluted share for the first quarter of 2018. ROIC reports FFO as a supplemental performance measure in accordance with the definition set forth


The following information was filed by Retail Opportunity Investments Partnership, Lp on Wednesday, April 24, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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