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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 36,654 $ 55,460 $ 57,360
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 104,227 97,494 92,929
Amortization of deferred financing costs and mortgage discounts and premiums, net 3,920 2,559 2,383
Straight-line rent adjustment (1,855) (2,715) (959)
Amortization of above-market and below-market rent (11,172) (11,947) (8,795)
Amortization relating to stock based compensation 12,712 11,949 11,030
Provisions for tenant credit losses 3,369 2,034 2,779
Other noncash interest (income) expense (15) (57) 45
Gain on sale of real estate 0 (7,653) (22,340)
Change in operating assets and liabilities:      
Tenant and other receivables (5,453) (1,976) (1,039)
Prepaid expenses 2,604 (630) (597)
Accounts payable and accrued expenses 5,566 1,242 5,072
Other assets and liabilities, net (3,079) 3,263 (1,536)
Net cash provided by operating activities 147,478 149,023 136,332
CASH FLOWS FROM INVESTING ACTIVITIES      
Investments in real estate (21,758) (120,639) (125,490)
Proceeds from sale of real estate 0 34,435 68,003
Improvements to properties (49,625) (58,077) (46,242)
Deposits on real estate acquisitions 500 (500) 0
Proceeds on repayment of mortgage note receivable 92 89 84
Net cash used in investing activities (70,791) (144,692) (103,645)
CASH FLOWS FROM FINANCING ACTIVITIES      
Principal repayments on mortgages (686) (24,133) (716)
Payments on term loan (100,000) 0 0
Proceeds from draws on credit facility 168,000 168,000 30,000
Payments on credit facility (181,000) (80,000) (78,000)
Proceeds from issuance of Senior Notes 348,289 0 0
Repayment of Senior Notes (250,000) 0 0
Distributions to OP Unitholders (3,498) (6,628) (2,857)
Deferred financing and other costs (9,160) 0 0
Proceeds from issuance of common stock 12,828 25,199 69,602
Registration expenditures (394) (976) (740)
Dividends paid to common stockholders (56,848) (91,583) (39,772)
Common shares issued under the Equity Incentive Plan 32 302 428
Shares withheld for employee taxes (3,291) (2,416) (1,905)
Net cash used in financing activities (75,728) (12,235) (23,960)
Net increase (decrease) in cash, cash equivalents and restricted cash 959 (7,904) 8,727
Cash, cash equivalents and restricted cash at beginning of period 7,459 15,363 6,636
Cash, cash equivalents and restricted cash at end of period 8,418 7,459 15,363
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 6,302 5,598 13,218
Restricted cash 2,116 1,861 2,145
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows 8,418 7,459 15,363
Retail Opportunity Investments Partnership L.P.      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income 36,654 55,460 57,360
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 104,227 97,494 92,929
Amortization of deferred financing costs and mortgage discounts and premiums, net 3,920 2,559 2,383
Straight-line rent adjustment (1,855) (2,715) (959)
Amortization of above-market and below-market rent (11,172) (11,947) (8,795)
Amortization relating to stock based compensation 12,712 11,949 11,030
Provisions for tenant credit losses 3,369 2,034 2,779
Other noncash interest (income) expense (15) (57) 45
Gain on sale of real estate 0 (7,653) (22,340)
Change in operating assets and liabilities:      
Tenant and other receivables (5,453) (1,976) (1,039)
Prepaid expenses 2,604 (630) (597)
Accounts payable and accrued expenses 5,566 1,242 5,072
Other assets and liabilities, net (3,079) 3,263 (1,536)
Net cash provided by operating activities 147,478 149,023 136,332
CASH FLOWS FROM INVESTING ACTIVITIES      
Investments in real estate (21,758) (120,639) (125,490)
Proceeds from sale of real estate 0 34,435 68,003
Improvements to properties (49,625) (58,077) (46,242)
Deposits on real estate acquisitions 500 (500) 0
Proceeds on repayment of mortgage note receivable 92 89 84
Net cash used in investing activities (70,791) (144,692) (103,645)
CASH FLOWS FROM FINANCING ACTIVITIES      
Principal repayments on mortgages (686) (24,133) (716)
Payments on term loan (100,000) 0 0
Proceeds from draws on credit facility 168,000 168,000 30,000
Payments on credit facility (181,000) (80,000) (78,000)
Proceeds from issuance of Senior Notes 348,289 0 0
Repayment of Senior Notes (250,000) 0 0
Distributions to OP Unitholders (60,346) (98,211) (42,629)
Deferred financing and other costs (9,160) 0 0
Proceeds from issuance of common stock 12,828 25,199 69,602
Registration expenditures (394) (976) (740)
Common shares issued under the Equity Incentive Plan 32 302 428
Shares withheld for employee taxes (3,291) (2,416) (1,905)
Net cash used in financing activities (75,728) (12,235) (23,960)
Net increase (decrease) in cash, cash equivalents and restricted cash 959 (7,904) 8,727
Cash, cash equivalents and restricted cash at beginning of period 7,459 15,363 6,636
Cash, cash equivalents and restricted cash at end of period 8,418 7,459 15,363
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 6,302 5,598 13,218
Restricted cash 2,116 1,861 2,145
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows $ 8,418 $ 7,459 $ 15,363