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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Rental revenue $ 82,437 $ 78,273 $ 249,216 $ 236,902
Other income 1,047 3,472 2,918 6,179
Total revenues 83,484 81,745 252,134 243,081
Operating expenses        
Property operating 14,923 13,210 43,478 40,993
Property taxes 9,324 8,909 26,372 26,677
Depreciation and amortization 25,918 27,050 78,518 77,280
General and administrative expenses 5,959 5,492 17,323 16,588
Other expense 158 157 815 811
Total operating expenses 56,282 54,818 166,506 162,349
Gain on sale of real estate 26,656 0 26,656 0
Operating income 53,858 26,927 112,284 80,732
Non-operating expenses        
Interest expense and other finance expenses (19,933) (17,998) (58,895) (52,589)
Net income 33,925 8,929 53,389 28,143
Net income attributable to non-controlling interests (1,797) (501) (2,877) (1,644)
Net Income Attributable to Retail Opportunity Investments Corp. $ 32,128 $ 8,428 $ 50,512 $ 26,499
Earnings per share/unit - basic (in dollars per share) $ 0.25 $ 0.07 $ 0.40 $ 0.21
Earnings per share/unit - diluted (in dollars per share) 0.25 0.07 0.39 0.21
Dividends per share/unit (in dollars per share) $ 0.15 $ 0.15 $ 0.45 $ 0.45
Comprehensive income:        
Net income $ 33,925 $ 8,929 $ 53,389 $ 28,143
Other comprehensive (loss) income:        
Unrealized swap derivative gain arising during the period 6 283 422 1,951
Reclassification adjustment for amortization of interest expense included in net income (254) (354) (1,014) (621)
Other comprehensive (loss) income: (248) (71) (592) 1,330
Comprehensive income 33,677 8,858 52,797 29,473
Comprehensive income attributable to non-controlling interests (1,783) (497) (2,844) (1,718)
Comprehensive income attributable to Retail Opportunity Investments Corp. 31,894 8,361 49,953 27,755
Retail Opportunity Investments Partnership L.P.        
Revenues        
Rental revenue 82,437 78,273 249,216 236,902
Other income 1,047 3,472 2,918 6,179
Total revenues 83,484 81,745 252,134 243,081
Operating expenses        
Property operating 14,923 13,210 43,478 40,993
Property taxes 9,324 8,909 26,372 26,677
Depreciation and amortization 25,918 27,050 78,518 77,280
General and administrative expenses 5,959 5,492 17,323 16,588
Other expense 158 157 815 811
Total operating expenses 56,282 54,818 166,506 162,349
Gain on sale of real estate 26,656 0 26,656 0
Operating income 53,858 26,927 112,284 80,732
Non-operating expenses        
Interest expense and other finance expenses (19,933) (17,998) (58,895) (52,589)
Net income $ 33,925 $ 8,929 $ 53,389 $ 28,143
Earnings per share/unit - basic (in dollars per share) $ 0.25 $ 0.07 $ 0.40 $ 0.21
Earnings per share/unit - diluted (in dollars per share) 0.25 0.07 0.39 0.21
Dividends per share/unit (in dollars per share) $ 0.15 $ 0.15 $ 0.45 $ 0.45
Comprehensive income:        
Net income $ 33,925 $ 8,929 $ 53,389 $ 28,143
Other comprehensive (loss) income:        
Unrealized swap derivative gain arising during the period 6 283 422 1,951
Reclassification adjustment for amortization of interest expense included in net income (254) (354) (1,014) (621)
Other comprehensive (loss) income: (248) (71) (592) 1,330
Comprehensive income $ 33,677 $ 8,858 $ 52,797 $ 29,473