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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