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Retail Opportunity Investments Partnership, Lp (1577230) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Retail Opportunity Investments Partnersh

CIK: 1577230


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

FOR IMMEDIATE RELEASE
Monday, October 28, 2019

Retail Opportunity Investments Corp. Reports
2019 Third Quarter Results

San Diego, CA, October 28, 2019 – Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today financial and operating results for the three and nine months ended September 30, 2019.

HIGHLIGHTS

$17.9 million of net income attributable to common stockholders ($0.16 per diluted share)
$33.4 million of Funds From Operations (FFO)(1) ($0.27 per diluted share)
97.7% portfolio lease rate at September 30, 2019 (21st consecutive quarter at or above 97%)
35.7% increase in same-space comparative cash rents on new leases (8.7% on renewals)
3.0% increase in same-center cash net operating income (3Q‘19 vs. 3Q‘18)
3.6% increase in same-center cash net operating income (first 9 months ‘19 vs. ‘18)
$30.0 million property disposition ($60.5 million of property dispositions YTD)
$19.2 million of common equity raised through ATM program ($25.9 million YTD)
$59.1 million debt reduction (9/30/19 vs. 6/30/19)
$0.1970 per share quarterly cash dividend paid
2019 FFO guidance range updated ($1.10 - $1.12 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, “During the third quarter, we again achieved strong property operations and leasing results. We posted our 31st consecutive quarter of increasing same-center cash NOI and same-space releasing cash rents. Additionally, for the 21st consecutive quarter, we achieved a portfolio lease rate at or above 97%.” Tanz added, “Along with continuing to post strong portfolio operating metrics, we are also working to strengthen our portfolio and financial position. Year to date, we have raised approximately $86 million of capital through disposing of certain non-core properties and selectively issuing shares through our ATM program. These efforts are aimed at enhancing the long-term intrinsic value of our portfolio and positioning the company for future growth.”

FINANCIAL SUMMARY
For the three months ended September 30, 2019, GAAP net income attributable to common stockholders was $17.9 million, or $0.16 per diluted share, as compared to GAAP net income attributable to common stockholders of $14.2


The following information was filed by Retail Opportunity Investments Partnership, Lp on Monday, October 28, 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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Retail Opportunity Investments Partnership, Lp's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statement Of Equity
Consolidated Statement Of Equity (Parentheticals)
Consolidated Statement Of Partners' Capital
Consolidated Statement Of Partners' Capital (Parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations And Comprehensive Income
Capital Of The Operating Partnership
Capital Of The Operating Partnership (Details Textual)
Commitments And Contingencies
Commitments And Contingencies (Details Textual)
Commitments And Contingencies (Future Minimum Annual Lease Payments Under Operating Leases) (Details)
Commitments And Contingencies (Tables)
Common Stock Of Roic
Common Stock Of Roic (Details Textual)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details)
Fair Value Of Financial Instruments (Balance Sheet Classification) (Details)
Fair Value Of Financial Instruments (Details Textual)
Fair Value Of Financial Instruments (Interest Rate Swaps) (Details)
Fair Value Of Financial Instruments (Location Of Gain Or Loss On Interest Rate Derivatives Designated As Cash Flow Hedges) (Details)
Fair Value Of Financial Instruments (Tables)
Mortgage Notes Payable, Credit Facilities And Senior Notes
Mortgage Notes Payable, Credit Facilities And Senior Notes (Carrying Value Of Debt) (Details)
Mortgage Notes Payable, Credit Facilities And Senior Notes (Details Textual)
Mortgage Notes Payable, Credit Facilities And Senior Notes (Mortgage Notes Based On Their Respective Properties) (Details)
Mortgage Notes Payable, Credit Facilities And Senior Notes (Tables)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Details Textual)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Reconciliation Between Basic And Diluted Eps) (Details)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)
Preferred Stock Of Roic
Preferred Stock Of Roic (Details Textual)
Real Estate Investments
Real Estate Investments (Details Textual)
Related Party Transactions
Related Party Transactions (Details Textual)
Stock Compensation For Roic
Stock Compensation For Roic (Details Textual)
Stock Compensation For Roic (Status Of Non-Vested Restricted Stock Awards) (Details)
Stock Compensation For Roic (Tables)
Subsequent Events
Subsequent Events (Details Textual)
Tenant Leases
Tenant Leases (Tables)
Tenant Leases Minimum Future Rentals To Be Received Under Non-Cancellable Leases (Details)

Material Contracts, Statements, Certifications & more

Retail Opportunity Investments Partnership, Lp provided additional information to their SEC Filing as exhibits

CIK: 1577230
Form Type: 10-Q Quarterly Report
Accession Number: 0001407623-19-000032
Submitted to the SEC: Tue Oct 29 2019 12:09:32 PM EST
Accepted by the SEC: Tue Oct 29 2019
Period: Monday, September 30, 2019
Industry: Real Estate Investment Trusts

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