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Retail Opportunity Investments Partnership, Lp (1577230) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

SEC Filings

1577230 Quarterly Reports

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
Tuesday, July 26, 2022

Retail Opportunity Investments Corp. Reports
2022 Second Quarter Results

San Diego, CA, July 26, 2022 - Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today financial and operating results for the three and six months ended June 30, 2022.

HIGHLIGHTS
$11.5 million of net income attributable to common stockholders ($0.09 per diluted share)
$36.7 million in Funds From Operations (FFO)(1) ($0.28 per diluted share)
FFO guidance for 2022 raised ($1.08 - $1.12 per diluted share)
$120.2 million of acquisitions lined up ($60.0 million closed, $60.2 million under contract)
$37.1 million property disposition under contract
714,380 square feet of leases executed during first six months of ‘22 (record activity)
97.6% portfolio lease rate at 6/30/22 (vs. 97.2% at 3/31/22 and 96.9% at 6/30/21)
16.7% increase in same-space cash base rents on 2Q‘22 new leases (10.5% renewal increase)
3.7% increase in same-center cash net operating income (2Q‘22 vs. 2Q‘21)
5.6% increase in same-center cash net operating income (first six months ‘22 vs. ‘21)
$25.2 million of common equity raised through ATM program during first six months
6.7x net principal debt-to-annualized EBITDA ratio for 2Q‘22
Awarded 2022 Green Lease Leader in recognition of ESG initiatives
$0.15 per share cash dividend declared
________________________________________
(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, “Strong demand for space across our portfolio continues to drive our business forward. Building on our leasing momentum from the first quarter, we increased our portfolio lease rate during the second quarter and again posted solid double-digit rent growth on both same-space new leases and renewals. Additionally, we continue to steadily grow and enhance our portfolio. Year-to-date, we have lined up $120.2 million of grocery-anchored shopping center acquisitions.” Tanz added, “With our success during the first half of the year, we are well-positioned and firmly on track to achieve our key objectives for 2022.”
FINANCIAL RESULTS SUMMARY
For the three months ended June 30, 2022, GAAP net income attributable to common stockholders was $11.5 million, or $0.09 per diluted share, as compared to GAAP net income attributable to common stockholders of $16.5 million, or $0.14 per diluted share, for the three months ended June 30, 2021. For the six months ended June 30, 2022, GAAP net income attributable to common stockholders was $23.1 million, or $0.19 per diluted share, as compared to GAAP net income attributable to common stockholders of $23.9 million, or $0.20 per diluted share, for the six months ended June 30, 2021. Included in 2021 GAAP net income was a $9.5 million gain on sale of real estate.



The following information was filed by Retail Opportunity Investments Partnership, Lp on Tuesday, July 26, 2022 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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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statements Of Cash Flow
Consolidated Statements Of Equity
Consolidated Statements Of Equity (Parentheticals)
Consolidated Statements Of Operations And Comprehensive Income
Consolidated Statements Of Partners' Capital
Consolidated Statements Of Partners' Capital (Parentheticals)
Capital Of The Operating Partnership
Capital Of The Operating Partnership (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Future Minimum Annual Lease Payments Under Operating Leases (Details)
Commitments And Contingencies - Narrative (Details)
Common Stock Of Roic
Common Stock Of Roic (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Tables)
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 - 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 - Narrative (Details)
Mortgage Notes Payable, Credit Facilities And Senior Notes
Mortgage Notes Payable, Credit Facilities And Senior Notes (Tables)
Mortgage Notes Payable, Credit Facilities And Senior Notes - Carrying Value Of Debt (Details)
Mortgage Notes Payable, Credit Facilities And Senior Notes - Mortgage Notes Based On Respective Properties (Details)
Mortgage Notes Payable, Credit Facilities And Senior Notes - Narrative (Details)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies - Narrative (Details)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies - Reconciliation Between Basic And Diluted Eps (Details)
Preferred Stock Of Roic
Preferred Stock Of Roic (Details)
Real Estate Investments
Real Estate Investments (Tables)
Real Estate Investments - Narrative (Details)
Real Estate Investments - Operating Results Included For Property Assets Acquired (Details)
Real Estate Investments - Property Asset Acquisitions (Details)
Related Party Transactions
Related Party Transactions (Details)
Stock Compensation For Roic
Stock Compensation For Roic (Tables)
Stock Compensation For Roic - Narrative (Details)
Stock Compensation For Roic - Status Of Non-Vested Restricted Stock Awards (Details)
Subsequent Events
Subsequent Events (Details)
Tenant Leases
Tenant Leases (Details)
Tenant Leases (Tables)

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: 0001407623-22-000071
Submitted to the SEC: Wed Jul 27 2022 10:47:53 AM EST
Accepted by the SEC: Wed Jul 27 2022
Period: Thursday, June 30, 2022
Industry: Real Estate Investment Trusts

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