Retail Opportunity Investments Corp.     TRADED: NASDAQ: ROIC
11250 El Camino Real, Suite 200
San Diego, CA 92130  
FOR IMMEDIATE RELEASE
Tuesday, February 18, 2020

Retail Opportunity Investments Corp. Reports 2019 Results

San Diego, CA, February 18, 2020 – Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today financial and operating results for the year and three months ended December 31, 2019.

YEAR 2019 HIGHLIGHTS
$48.8mm of net income attributable to common stockholders ($0.42 per diluted share)
$138.1 million in Funds From Operations(1) ($1.10 per diluted share)
97.9% portfolio lease rate at year-end (6th consecutive year above 97%)
3.6% increase in same-center cash net operating income (2019 vs. 2018)
1.4 million square feet of leases executed (new and renewed)
32.8% increase in same-space cash rents on new leases (9.7% increase on renewals)
$74.1 million of property dispositions
$11.5 million grocery-anchored shopping center acquired
$34.2 million of common equity raised through ATM program
$72.6 million reduction in year-end principal debt outstanding (2019 vs. 2018)
94.1% of total debt effectively fixed-rate at year-end (no debt maturing in 2020 and 2021)
94.5% of portfolio’s gross leasable area unencumbered at year-end
$0.788 per share in total cash dividends paid in 2019

4TH QUARTER 2019 HIGHLIGHTS
$10.2mm of net income attributable to common stockholders ($0.09 per diluted share)
$35.3 million in Funds From Operations(1) ($0.28 per diluted share)
$11.5 million grocery-anchored shopping center acquired
$13.6 million property disposition
3.5% increase in same-center cash net operating income (4Q‘19 vs. 4Q‘18)
34.1% increase in same-space cash rents on new leases (6.2% increase on renewals)
$15.0 million of common equity raised through ATM program
Lowered borrowing spread, extended maturities on credit facility and term loan
3.4 times interest coverage
$0.197 per share quarterly cash dividend paid
$0.20 per share quarterly cash dividend declared in 1Q‘20
________________________________________
(1) A reconciliation of GAAP net income to FFO is provided at the end of this press release.



The following information was filed by Retail Opportunity Investments Partnership, Lp on Tuesday, February 18, 2020 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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