Last10K.com

Retail Opportunity Investments Partnership, Lp (1577230) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 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
Monday, October 26, 2020

Retail Opportunity Investments Corp. Reports
2020 Third Quarter Results

San Diego, CA, October 26, 2020 – Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today financial and operating results for the three and nine months ended September 30, 2020.

HIGHLIGHTS

$6.5 million of net income attributable to common stockholders for 3Q‘20 ($0.06 per diluted share)
$31.6 million of Funds From Operations (FFO)(1) for 3Q‘20 ($0.25 per diluted share)
88.7% of total 3Q‘20 billed base rent has been paid to date
96.8% portfolio lease rate at September 30, 2020
94.8% of total tenants are currently open, based on annualized base rent (ABR)
441,148 square feet of leases executed in 3Q‘20 (comparable to pre-pandemic leasing volume)
12.2% increase in same-space comparative cash rents on new leases in 3Q‘20 (11.6% on renewals)
3.5% decrease in same-center cash net operating income (3Q‘20 vs. 3Q‘19)
$130.0 million liquidity borrowing repaid in full
$49.1 million of operational cash flow conserved since 1Q‘20
$62.2 million in cash & cash equivalents currently
Awarded investment grade rating from Fitch Ratings, Inc.
Quarterly cash dividend expected to be reinstated starting in 1Q‘21
________________________________________
(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, “Our business, portfolio and tenants continue to exhibit remarkable resiliency. Notwithstanding ongoing state safeguards on the West Coast, that continue to limit operational capacity for a number of businesses, consumer activity across our grocery-anchored shopping center portfolio is strong. Accordingly, demand for space from a broad range of retailers has ramped up considerably. Our leasing activity during the third quarter totaled over 441,000 square feet, which is close to a new record in terms of our historical third quarter leasing activity. Additionally, we achieved double-digit rent growth on both new leases signed during the quarter and renewals.” Tanz added, “We intend to continue making the most of the demand, along with working diligently and collaboratively with existing tenants toward returning to full operations, with the goal of achieving a solid finish to 2020.”



The following information was filed by Retail Opportunity Investments Partnership, Lp on Monday, October 26, 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.

View differences made from one quarter to another to evaluate Retail Opportunity Investments Partnership, Lp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Retail Opportunity Investments Partnership, Lp.

Continue

Assess how Retail Opportunity Investments Partnership, Lp's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Retail Opportunity Investments Partnership, Lp's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

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: 0001407623-20-000068
Submitted to the SEC: Tue Oct 27 2020 1:35:47 PM EST
Accepted by the SEC: Tue Oct 27 2020
Period: Wednesday, September 30, 2020
Industry: Real Estate Investment Trusts

External Resources:

Bookmark the Permalink:
https://last10k.com/sec-filings/1577230/0001407623-20-000068.htm