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Retail Opportunity Investments Partnership, Lp (1577230) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

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
Wednesday, July 29, 2020

Retail Opportunity Investments Corp. Reports
2020 Second Quarter Results & Provides COVID-19 Update

San Diego, CA, July 29, 2020 – Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today financial and operating results for the three and six months ended June 30, 2020, and provided information regarding financial and operational activities in light of the ongoing COVID-19 pandemic.

SECOND QUARTER 2020

$4.6 million of net income attributable to common stockholders ($0.04 per diluted share)
$29.2 million of Funds From Operations (FFO)(1) ($0.23 per diluted share)
81.9% of total 2Q 2020 billed base rent has been paid to date
97.0% portfolio lease rate at June 30, 2020
8.4% increase in same-space comparative cash rents on new leases (7.2% on renewals)
9.3% decrease in same-center cash net operating income (2Q‘20 vs. 2Q‘19)
3.1% decrease in same-center cash net operating income (first 6 months of ‘20 vs. ‘19)

COVID-19 UPDATE (as of July 27, 2020)

All 88 shopping centers are open and operating
98% of total portfolio (86 out of 88 shopping centers) are grocery and/or drug-store anchored
87.5% of total tenants are open, based on annualized base rent (ABR)
84.9% of July 2020 billed monthly base rent has been paid to date
$161.3 million in cash & cash equivalents ($27.8 million increase since April)
Quarterly dividend remains temporarily suspended
________________________________________
(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, “Notwithstanding the West Coast having been under strict stay-at-home orders for a good portion of the second quarter, our portfolio, given our grocery and daily-necessity focus, continued to perform remarkably well. Our portfolio lease rate held reasonably steady during the quarter and we continued to achieve rent growth with our leasing activity.” Tanz added, “Over the past several months, we have been implementing a number of initiatives aimed at adapting our shopping centers and supporting tenants during this unprecedented time, as well as strategically positioning our business for a strong return going forward.”



The following information was filed by Retail Opportunity Investments Partnership, Lp on Wednesday, July 29, 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-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 2020 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)
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)
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: 0001407623-20-000059
Submitted to the SEC: Thu Jul 30 2020 5:33:29 PM EST
Accepted by the SEC: Thu Jul 30 2020
Period: Tuesday, June 30, 2020
Industry: Real Estate Investment Trusts

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