Retail Opportunity Investments (ROIC) Tops Q2 EPS by 8c

Retail Opportunity Investments (NASDAQ: ROIC) reported Q2 EPS of $0.14, $0.08 better than the analyst estimate of $0.06.

• 16.5 million of net income attributable to common stockholders ($0.14 per diluted share)
• $31.7 million in Funds From Operations(1) ($0.25 per diluted share)
• 9.6% increase in same-center cash net operating income (2Q‘21 vs. 2Q‘20)
• 96.9% portfolio lease rate at June 30, 2021
• 338,230 square feet of leases executed (record second quarter activity)
• 15.8% increase in same-space cash rents on new leases (3.3% increase on renewals)
• $61 million grocery-anchored shopping center acquisitions currently lined up
• $25.8 million property disposition completed
• $45 million property dispositions currently lined up (exiting Sacramento)
• $34.8 million of common equity raised through ATM program ($46.1 million YTD)
• $117 million of capital lined up year-to-date (equity issuance and sale proceeds combined)
• $48.3 million debt reduction year-to-date (6/30/21 vs. 12/31/20)
• No borrowings outstanding on unsecured credit facility at June 30, 2021
• Investment-grade rating reaffirmed by Moody’s and S&P
• Awarded 2021 Green Lease Leader Gold recognition for ESG initiatives
• 2021 FFO guidance range updated ($0.98 to $1.02 per diluted share)
• $0.11 per share cash dividend declared

For earnings history and earnings-related data on Retail Opportunity Investments (ROIC) click here.

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