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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Rental revenue $ 82,219 $ 79,630 $ 166,779 $ 158,629
Other income 1,101 2,410 1,871 2,707
Total revenues 83,320 82,040 168,650 161,336
Operating expenses        
Property operating 14,472 13,581 28,555 27,783
Property taxes 8,488 8,924 17,048 17,768
Depreciation and amortization 26,331 25,126 52,600 50,230
General and administrative expenses 5,682 5,776 11,364 11,096
Other expense 505 482 657 654
Total operating expenses 55,478 53,889 110,224 107,531
Operating income 27,842 28,151 58,426 53,805
Non-operating expenses        
Interest expense and other finance expenses (20,043) (17,633) (38,962) (34,591)
Net income 7,799 10,518 19,464 19,214
Net income attributable to non-controlling interests (433) (589) (1,080) (1,143)
Net Income Attributable to Retail Opportunity Investments Corp. $ 7,366 $ 9,929 $ 18,384 $ 18,071
Earnings per share/unit - basic (in dollars per share) $ 0.06 $ 0.08 $ 0.14 $ 0.14
Earnings per share/unit - diluted (in dollars per share) 0.06 0.08 0.14 0.14
Dividends per share/unit (in dollars per share) $ 0.15 $ 0.15 $ 0.30 $ 0.30
Comprehensive income:        
Net income $ 7,799 $ 10,518 $ 19,464 $ 19,214
Other comprehensive (loss) income:        
Unrealized swap derivative gain arising during the period 73 1,657 416 1,668
Reclassification adjustment for amortization of interest expense included in net income (377) (251) (760) (267)
Other comprehensive (loss) income: (304) 1,406 (344) 1,401
Comprehensive income 7,495 11,924 19,120 20,615
Comprehensive income attributable to non-controlling interests (416) (667) (1,061) (1,221)
Comprehensive income attributable to Retail Opportunity Investments Corp. 7,079 11,257 18,059 19,394
Retail Opportunity Investments Partnership L.P.        
Revenues        
Rental revenue 82,219 79,630 166,779 158,629
Other income 1,101 2,410 1,871 2,707
Total revenues 83,320 82,040 168,650 161,336
Operating expenses        
Property operating 14,472 13,581 28,555 27,783
Property taxes 8,488 8,924 17,048 17,768
Depreciation and amortization 26,331 25,126 52,600 50,230
General and administrative expenses 5,682 5,776 11,364 11,096
Other expense 505 482 657 654
Total operating expenses 55,478 53,889 110,224 107,531
Operating income 27,842 28,151 58,426 53,805
Non-operating expenses        
Interest expense and other finance expenses (20,043) (17,633) (38,962) (34,591)
Net income $ 7,799 $ 10,518 $ 19,464 $ 19,214
Earnings per share/unit - basic (in dollars per share) $ 0.06 $ 0.08 $ 0.14 $ 0.14
Earnings per share/unit - diluted (in dollars per share) 0.06 0.08 0.14 0.14
Dividends per share/unit (in dollars per share) $ 0.15 $ 0.15 $ 0.30 $ 0.30
Comprehensive income:        
Net income $ 7,799 $ 10,518 $ 19,464 $ 19,214
Other comprehensive (loss) income:        
Unrealized swap derivative gain arising during the period 73 1,657 416 1,668
Reclassification adjustment for amortization of interest expense included in net income (377) (251) (760) (267)
Other comprehensive (loss) income: (304) 1,406 (344) 1,401
Comprehensive income $ 7,495 $ 11,924 $ 19,120 $ 20,615