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Consolidated Statements of Cash Flow - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 19,464 $ 19,214
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 52,600 50,230
Amortization of deferred financing costs and mortgage discounts and premiums, net 1,789 1,836
Straight-line rent adjustment (423) (1,326)
Amortization of above-market and below-market rent, net (9,321) (5,473)
Amortization relating to stock based compensation 6,070 6,357
Provisions for tenant credit losses 1,476 2,009
Other noncash interest income 0 (15)
Change in operating assets and liabilities:    
Tenant and other receivables 568 (618)
Prepaid expenses 594 3,707
Accounts payable and accrued expenses (5,467) (3,124)
Other assets and liabilities, net (2,267) 375
Net cash provided by operating activities 65,083 73,172
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in real estate (71,063) 0
Improvements to properties (18,666) (19,132)
Deposit on real estate acquisition 0 500
Proceeds on repayment of mortgage note receivable 47 45
Net cash used in investing activities (89,682) (18,587)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayments on mortgages (26,351) (342)
Proceeds from draws on credit facility 160,000 48,000
Payments on credit facility (71,000) (73,000)
Distributions to OP Unitholders (2,231) (1,267)
Deferred financing and other costs 0 (5,716)
Registration expenditures (69) (46)
Dividends paid to common stockholders (38,522) (19,049)
Common shares issued under the Equity Incentive Plan 0 32
Shares withheld for employee taxes (3,532) (3,291)
Net cash provided by (used in) financing activities 18,295 (54,679)
Net decrease in cash, cash equivalents and restricted cash (6,304) (94)
Cash, cash equivalents and restricted cash at beginning of period 8,418 7,459
Cash, cash equivalents and restricted cash at end of period 2,114 7,365
Other non-cash investing and financing activities:    
Increase in intangible lease liabilities 5,884 0
(Decrease) increase in interest rate swap asset (344) 1,417
Accrued real estate improvement costs 4,906 7,426
Equity redemption of OP Units   13,389
Dividends and distributions payable 21,054 20,868
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 2,114 5,296
Restricted cash 0 2,069
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows 2,114 7,365
Retail Opportunity Investments Partnership L.P.    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income 19,464 19,214
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 52,600 50,230
Amortization of deferred financing costs and mortgage discounts and premiums, net 1,789 1,836
Straight-line rent adjustment (423) (1,326)
Amortization of above-market and below-market rent, net (9,321) (5,473)
Amortization relating to stock based compensation 6,070 6,357
Provisions for tenant credit losses 1,476 2,009
Other noncash interest income 0 (15)
Change in operating assets and liabilities:    
Tenant and other receivables 568 (618)
Prepaid expenses 594 3,707
Accounts payable and accrued expenses (5,467) (3,124)
Other assets and liabilities, net (2,267) 375
Net cash provided by operating activities 65,083 73,172
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in real estate (71,063) 0
Improvements to properties (18,666) (19,132)
Deposit on real estate acquisition 0 500
Proceeds on repayment of mortgage note receivable 47 45
Net cash used in investing activities (89,682) (18,587)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayments on mortgages (26,351) (342)
Proceeds from draws on credit facility 160,000 48,000
Payments on credit facility (71,000) (73,000)
Distributions to OP Unitholders (40,753) (20,316)
Deferred financing and other costs 0 (5,716)
Registration expenditures (69) (46)
Common shares issued under the Equity Incentive Plan 0 32
Shares withheld for employee taxes (3,532) (3,291)
Net cash provided by (used in) financing activities 18,295 (54,679)
Net decrease in cash, cash equivalents and restricted cash (6,304) (94)
Cash, cash equivalents and restricted cash at beginning of period 8,418 7,459
Cash, cash equivalents and restricted cash at end of period 2,114 7,365
Other non-cash investing and financing activities:    
Increase in intangible lease liabilities 5,884 0
(Decrease) increase in interest rate swap asset (344) 1,417
Accrued real estate improvement costs 4,906 7,426
Equity redemption of OP Units   13,389
Dividends and distributions payable 21,054 20,868
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 2,114 5,296
Restricted cash 0 2,069
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows $ 2,114 $ 7,365