Financial Data and Key Metrics Changes - For Q2 2024, the company reported total revenues of $83 million and operating income of $28 million, while for the first six months, total revenues were $169 million and operating income was $58 million [2] - GAAP net income attributable to common shareholders for Q2 2024 was $7.4 million, or $0.06 per diluted share, and for the first six months, it was $18.4 million, or $0.14 per diluted share [4] - Funds from operations (FFO) for Q2 2024 totaled $34.1 million, equating to $0.25 per diluted share, and for the first six months, FFO totaled $72.1 million, or $0.54 per diluted share [5] - Same center cash basis net operating income (NOI) increased by 1.7% in Q2 and 3.7% for the first half of the year, exceeding the full-year guidance range of 1% to 2% [3] Business Line Data and Key Metrics Changes - The company leased 393,000 square feet in Q2, marking the second most active second quarter on record, with 40 new leases totaling 117,000 square feet and a 12% increase in same space base rent [12] - The portfolio lease rate increased to 97% as of June 30, with shop space at 96% leased and anchor space at 98% leased [13] - New leases signed during Q2 added over $2.5 million of incremental annual base rent, bringing the total incremental rent from new leases to approximately $7.3 million as of June 30 [14] Market Data and Key Metrics Changes - Demand for space across the portfolio remains strong, particularly from destination tenants in sectors such as fitness, wellness, and restaurants [8][9] - The company is focusing on expanding in select markets on the West Coast, where it has a strong presence [10] Company Strategy and Development Direction - The company plans to enhance the value and cash flow of its properties by improving tenant mix and releasing below-market spaces [20] - The acquisition market is currently muted due to interest rate uncertainties, but the company anticipates a potential pickup in acquisition activity in 2025 if interest rates decline [26][41] - The company is focusing on growth opportunities within its core portfolio, particularly with upcoming anchor lease maturities that are significantly below market [35] Management's Comments on Operating Environment and Future Outlook - Management noted that the tenant base continues to perform well, with receivables consistent with historical averages, and minimal exposure to tenants in distress [30] - The company expects same-store NOI growth to be stronger in 2025 compared to 2024, driven by the leasing of spaces that have recently become available [50] - Management expressed optimism about the long-term strength of the grocery-anchored, necessity-based portfolio in affluent markets [35][98] Other Important Information - The company retired a $26 million mortgage during Q2, leaving only one remaining mortgage of $34 million, with 94 of 95 shopping centers unencumbered [6] - The company aims to refinance $250 million of senior notes maturing in December through a long-term public bond offering [7] Q&A Session Summary Question: What is the outlook for net investment activity given the uncertainty around interest rates? - Management indicated that timing is a factor, with sellers reluctant to transact due to the current interest rate environment, but they hope for increased acquisition activity in 2025 if rates decline [26] Question: How does the lower level of net investment activity impact guidance? - The company adjusted its guidance downward, noting that for every $100 million of net investment activity, it adds about a penny of FFO, and with no acquisition activity assumed for the remainder of the year, the high end of guidance was pulled down [28] Question: What is the health of the tenant base today compared to three months ago? - The tenant base continues to perform well, with consistent receivables and minimal impact from tenants in distress [30] Question: Any updates on the Kohl's backfill at Fallbrook? - The company signed leases totaling about 45,000 square feet, with ongoing discussions for the largest space of 115,000 square feet [31] Question: What is the status of the anchor leasing opportunities? - Management noted that many maturing anchor tenants do not have renewal options, presenting significant mark-to-market opportunities [35] Question: How does the company view the impact of recent store closures in the industry? - Management stated that they have very little exposure to affected tenants and are actively working on backfilling spaces [61][68]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Maryland (Retail Opportunity Investments Corp.) 26-0500600 (Retail Opportunity Investments Corp.) Delaware (Retail Opportunity Investments Partnership, LP) FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Com ...

This quarterly report represents an FFO surprise of -3.85%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.26 per share when it actually produced FFO of $0.28, delivering a surprise of 7.69%. Ahead of this earnings release, the estimate revisions trend for Retail Opportunity Investments: unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks ...

Retail Opportunity Investments Corp. TRADED: NASDAQ: ROIC 11250 El Camino Real, Suite 200 San Diego, CA 92130 Retail Opportunity Investments Corp. Reports 2024 Second Quarter Results San Diego, CA, July 23, 2024 - Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today financial and operating results for the three and six months ended June 30, 2024. HIGHLIGHTS A reconciliation of GAAP net income to FFO is provided at the end of this press release. (1) Stuart A. Tanz, President and Chief Executive ...

Core Viewpoint - Retail Opportunity Investments Corp. (ROIC) reported its financial and operational results for the second quarter and first half of 2024, highlighting a strong leasing performance and a solid portfolio operational result despite a slight decrease in net income compared to the previous year [14][36]. Financial Summary - As of June 30, 2024, ROIC had total real estate assets of approximately $3.5 billion and principal debt outstanding of about $1.4 billion, with a net principal debt-to-annualized EBITDA ratio of 6.6 times [3][36]. - For Q2 2024, ROIC's rental revenue was $82.2 million, an increase from $79.6 million in Q2 2023, while total revenues reached $83.3 million compared to $82.0 million in the same period last year [11][36]. - The net income attributable to common stockholders for Q2 2024 was $7.4 million, or $0.06 per diluted share, down from $9.9 million, or $0.08 per diluted share, in Q2 2023 [37][36]. - Funds from operations (FFO) for Q2 2024 were $34.1 million, or $0.25 per diluted share, compared to $35.6 million, or $0.27 per diluted share, in Q2 2023 [16][36]. Acquisition and Disposition Summary - In April 2024, ROIC acquired Bressi Ranch Village Center for $70.1 million, a property that is 98.4% leased and anchored by two supermarkets [4][36]. - Subsequent to Q2, in July 2024, ROIC sold a property for $56.6 million [39][36]. Property Operations Summary - As of June 30, 2024, ROIC's portfolio was 97.0% leased, with 131 leases executed in Q2 2024, totaling 392,746 square feet [52][36]. - The same-center net operating income (NOI) for Q2 2024 was $55.6 million, representing a 1.7% increase from $54.7 million in Q2 2023 [50][36]. - The company achieved a 12.4% increase in same-space cash base rents on new leases during Q2 2024, with a 5.8% increase on renewals [36][49]. Dividend Summary - ROIC declared a cash dividend of $0.15 per share, payable on October 4, 2024, to stockholders of record on September 20, 2024 [6][36]. Environmental, Social & Governance Summary - In June 2024, ROIC issued its fifth annual ESG report, detailing achievements and ongoing initiatives in line with sustainability standards [19][36].

Dear subscribers, ROIC - Very good for a REIT that's not a class leader This, to my mind, acts as a further insulator towards any risk to the company, even to what's going on in California and the West Coast at this time. The company is historically apt at selecting leading metro markets that have high barriers to entry, and they pick tenants that focus on basic consumer goods and conservative services, with minimal concentration on one single tenant. There is "proof to the pudding" here, in the form of: 96 ...

Company Overview - Deckers Outdoor Corp is a global leader in innovative footwear, apparel, and accessories, operating six proprietary brands: UGG, HOKA, Teva, Sanuk, Koolaburra, and AHNU, focusing on fashion, lifestyle, performance, and outdoor markets [1] - The company outsources manufacturing to third-party manufacturers, maintaining an asset-light balance sheet and concentrating on design, advertising, and distribution [1] Financial Performance - For fiscal year 2024, Deckers reported a revenue of nearly $4.30 billion, an 18% increase year over year, with a gross margin of 55.60% and an operating margin of 21.60% [14] - UGG generated global revenue of $2.20 billion, a 16% increase year over year, primarily driven by direct-to-consumer (DTC) and international business [2] - HOKA achieved global revenue of $1.80 billion, a 28% increase year over year, with U.S. brand awareness reaching approximately 40% and international awareness just over 20% [6] Strategic Focus - The company emphasizes a direct-to-consumer sales strategy, which enhances margins and fosters stronger consumer connections, contributing to 43% of total revenue, up from 40% in the prior fiscal year [3][22] - DTC revenue surged by 27%, contributing nearly $400 million in incremental business, with HOKA and UGG's DTC revenues increasing by 40% and 22%, respectively [22] Operating Performance - Deckers has shown significant growth in operating performance, with revenue increasing from $2 billion in 2019 to $4.29 billion in 2024, and operating income growing from $327 million to $927.50 million [16] - The company's return on invested capital (ROIC) improved from 42.65% in 2019 to 68.71% in 2024, indicating strong operational efficiency [17] Balance Sheet Strength - Deckers maintains a debt-free balance sheet, with total shareholders' equity of $2.10 billion and a cash balance of $1.50 billion, incurring only operating lease liabilities of $266.90 million [23] Future Outlook - Management estimates a potential revenue growth of 10% for fiscal 2025, projecting revenue to reach $4.70 billion, with an operating margin of 19.50% [19]

SAN DIEGO, June 26, 2024 (GLOBE NEWSWIRE) -- Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today the release of its annual Environmental, Social and Governance (ESG) report, detailing its ESG achievements during 2023, as well as its ongoing initiatives and goals. The report was prepared in accordance with the Sustainability Accounting Standards Board standards, the Task Force on Climate-related Financial Disclosures framework, and the United Nations Sustainable Development Goals. The report i ...

Company Overview - Retail Opportunity Investments (ROIC) operates grocery-anchored open-air shopping centers primarily on the West Coast, with a portfolio of 93 shopping centers across California (59%), Oregon (18%), and Washington (23%) [11] - The company has underperformed the Vanguard Real Estate Index Fund ETF (VNQ) in 2024, with a low-double-digit decline compared to a 5% drop for the benchmark ETF, creating a potential buying opportunity [10] Operational Overview - The company reported a Funds From Operations (FFO) of $0.28 per share in Q1 2024, reflecting a 12% year-over-year increase, driven by higher revenues from an acquisition in Q4 2023 and strong growth in new leases (+12.2%) and renewals (+6.7%) [5] - The portfolio was 96.4% leased in Q1 2024, down 1.9% year-over-year, but the company expects to re-let vacated spaces soon at higher rents, with four national tenants lined up [13] Financial Overview - Retail Opportunity Investments ended Q1 2024 with a net debt of approximately $1.38 billion, representing 45% of enterprise value, with an average cost of debt at 5.08% [7] - The company anticipates generating about $210 million in net operating income (NOI) in 2024, which corresponds to a market cap rate of approximately 6.9% against an enterprise value of $3 billion [18] Market Outlook - The company reaffirmed its 2024 FFO outlook of $1.03-$1.09 per share, indicating confidence in the temporary nature of elevated vacancy rates and potential for further acquisitions [6] - The defensive nature of the retail portfolio, particularly grocery-anchored centers, is expected to benefit as the Federal Reserve may start cutting rates, enhancing demand for such assets [10][20]

Company Overview - Retail Opportunity Investments Corp. (NASDAQ:ROIC) is a fully integrated, self-managed real estate investment trust (REIT) specializing in the acquisition, ownership, and management of grocery-anchored shopping centers located in densely populated metropolitan markets across the West Coast [4] - As of March 31, 2024, ROIC owned 94 shopping centers encompassing approximately 10.6 million square feet [4] - ROIC is the largest publicly traded grocery-anchored shopping center REIT focused exclusively on the West Coast and is a member of the S&P SmallCap 600 Index [4] Upcoming Financial Results - The company will issue financial and operational results for the second quarter ended June 30, 2024, after the market closes on Tuesday, July 23, 2024 [3] - A conference call and audio webcast will be conducted on Wednesday, July 24, 2024, at 9:00 a.m. Eastern Time / 6:00 a.m. Pacific Time [3] Investor Relations - Participants in the conference call can register through a provided link and have options for dialing in or receiving an automated call [4] - The conference call will be recorded and available for replay for up to one year on the company's Investor Relations Events & Presentations page [4]