Organization, Basis of Presentation and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Basic and Diluted Earnings Per Share

The following table sets forth the reconciliation between basic and diluted EPS for ROIC (in thousands, except share data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator:
Net income	$	10,518	$	12,314	$	19,214	$	24,780
Less income attributable to non-controlling interests	(589)		(807)		(1,143)		(1,632)
Less earnings allocated to participating securities	(112)		(88)		(232)		(176)
Net income available for common stockholders, basic	$	9,817	$	11,419	$	17,839	$	22,972
Numerator:
Net income	$	10,518	$	12,314	$	19,214	$	24,780
Less earnings allocated to participating securities	(112)		(88)		(232)		(176)
Net income available for common stockholders, diluted	$	10,406	$	12,226	$	18,982	$	24,604
Denominator:
Denominator for basic EPS – weighted average common equivalent shares	125,125,235		123,537,494		124,678,781		122,976,980
OP Units	7,561,622		8,663,073		8,001,924		8,679,811
Performance-based restricted stock awards and LTIP Units	356,972		378,819		388,030		383,592
Stock options	—		1,200		—		1,281
Denominator for diluted EPS – weighted average common equivalent shares	133,043,829		132,580,586		133,068,735		132,041,664

Earnings Per Unit

The following table sets forth the reconciliation between basic and diluted earnings per unit for the Operating Partnership (in thousands, except unit data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator:
Net income	$	10,518	$	12,314	$	19,214	$	24,780
Less earnings allocated to participating securities	(112)		(88)		(232)		(176)
Net income available to unitholders, basic and diluted	$	10,406	$	12,226	$	18,982	$	24,604
Denominator:
Denominator for basic earnings per unit – weighted average common equivalent units	132,686,857		132,200,567		132,680,705		131,656,791
Performance-based restricted stock awards and LTIP Units	356,972		378,819		388,030		383,592
Stock options	—		1,200		—		1,281
Denominator for diluted earnings per unit – weighted average common equivalent units	133,043,829		132,580,586		133,068,735		132,041,664