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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Rental revenue $ 77,218 $ 70,114 $ 152,255 $ 139,018
Other income 1,007 616 2,443 899
Total revenues 78,225 70,730 154,698 139,917
Operating expenses        
Property operating 12,672 10,766 24,763 21,325
Property taxes 8,416 8,332 16,936 16,938
Depreciation and amortization 24,350 23,507 48,112 46,547
General and administrative expenses 5,702 5,232 10,942 9,607
Other expense 488 331 667 484
Total operating expenses 51,628 48,168 101,420 94,901
Gain on sale of real estate 0 9,460 0 9,460
Operating income 26,597 32,022 53,278 54,476
Non-operating expenses        
Interest expense and other finance expenses (14,283) (14,337) (28,498) (28,817)
Net income 12,314 17,685 24,780 25,659
Net income attributable to non-controlling interests (807) (1,201) (1,632) (1,760)
Net Income Attributable to Retail Opportunity Investments Corp. $ 11,507 $ 16,484 $ 23,148 $ 23,899
Earnings per share/unit - basic (in dollars per share) $ 0.09 $ 0.14 $ 0.19 $ 0.20
Earnings per share/unit - diluted (in dollars per share) 0.09 0.14 0.19 0.20
Dividends per share/unit (in dollars per share) $ 0.13 $ 0.11 $ 0.26 $ 0.22
Comprehensive income:        
Net income $ 12,314 $ 17,685 $ 24,780 $ 25,659
Other comprehensive income:        
Unrealized swap derivative gain (loss) arising during the period 235 (113) 1,043 (37)
Reclassification adjustment for amortization of interest expense included in net income 932 1,456 2,327 2,953
Other comprehensive income: 1,167 1,343 3,370 2,916
Comprehensive income 13,481 19,028 28,150 28,575
Comprehensive income attributable to non-controlling interests (884) (1,319) (1,853) (1,997)
Comprehensive income attributable to Retail Opportunity Investments Corp. 12,597 17,709 26,297 26,578
Retail Opportunity Investments Partnership L.P.        
Revenues        
Rental revenue 77,218 70,114 152,255 139,018
Other income 1,007 616 2,443 899
Total revenues 78,225 70,730 154,698 139,917
Operating expenses        
Property operating 12,672 10,766 24,763 21,325
Property taxes 8,416 8,332 16,936 16,938
Depreciation and amortization 24,350 23,507 48,112 46,547
General and administrative expenses 5,702 5,232 10,942 9,607
Other expense 488 331 667 484
Total operating expenses 51,628 48,168 101,420 94,901
Gain on sale of real estate 0 9,460 0 9,460
Operating income 26,597 32,022 53,278 54,476
Non-operating expenses        
Interest expense and other finance expenses (14,283) (14,337) (28,498) (28,817)
Net income $ 12,314 $ 17,685 $ 24,780 $ 25,659
Earnings per share/unit - basic (in dollars per share) $ 0.09 $ 0.14 $ 0.19 $ 0.20
Earnings per share/unit - diluted (in dollars per share) 0.09 0.14 0.19 0.20
Dividends per share/unit (in dollars per share) $ 0.13 $ 0.11 $ 0.26 $ 0.22
Comprehensive income:        
Net income $ 12,314 $ 17,685 $ 24,780 $ 25,659
Other comprehensive income:        
Unrealized swap derivative gain (loss) arising during the period 235 (113) 1,043 (37)
Reclassification adjustment for amortization of interest expense included in net income 932 1,456 2,327 2,953
Other comprehensive income: 1,167 1,343 3,370 2,916
Comprehensive income $ 13,481 $ 19,028 $ 28,150 $ 28,575