Welcome to our dedicated page for Retail Opportunity Invts news (Ticker: ROIC), a resource for investors and traders seeking the latest updates and insights on Retail Opportunity Invts stock.
Retail Opportunity Invts Corp (ROIC) is a leading retail real estate investment trust focused on acquiring and managing shopping centers in strategic U.S. coastal markets. This page serves as the definitive source for official company announcements and market-relevant updates.
Investors and analysts will find curated press releases covering earnings reports, property acquisitions, tenant partnerships, and operational milestones. Our aggregation ensures timely access to ROIC's financial disclosures, strategic initiatives, and management commentary.
Content is organized to highlight critical developments in retail property management, lease agreements, and portfolio diversification efforts. Regular updates provide insights into ROIC's market positioning within the competitive commercial real estate sector.
Bookmark this page for streamlined tracking of ROIC's progress in enhancing shopping center value through targeted investments and operational expertise. Visit regularly to stay informed about material events impacting this retail-focused REIT.
Retail Opportunity Investments Corp. (NASDAQ:ROIC) reported financial results for Q1 2023, posting $8.1 million in net income, equating to $0.06 per diluted share. Funds From Operations (FFO) reached $33.8 million or $0.25 per diluted share. The company reaffirmed its FFO guidance for the year at $1.05 - $1.11 per diluted share.
ROIC achieved a record 98.3% portfolio lease rate and executed 559,157 square feet of leases, marking its most active quarter. However, there was a 0.7% decrease in same-center cash net operating income year-over-year. The company has entered into a contract to sell a property for $15.4 million and extended its unsecured credit facility maturity to 2027.
Retail Opportunity Investments Corp. (NASDAQ: ROIC) will release its financial results for Q1 2023 on April 25, 2023, after market close. The company will host a conference call on April 26, 2023, at 9:00 a.m. ET. ROIC specializes in acquiring and managing grocery-anchored shopping centers primarily on the West Coast. As of December 31, 2022, it owned 93 shopping centers covering about 10.6 million square feet, making it the largest publicly traded grocery-anchored shopping center REIT focused on this region. ROIC holds investment-grade corporate ratings from major agencies.
Retail Opportunity Investments Corp. (NASDAQ: ROIC) has successfully amended and extended its $600 million unsecured credit facility, pushing the maturity date from February 2024 to March 2027. The new agreement introduces an interest rate based on the Secured Overnight Financing Rate (SOFR), along with a sustainability metric feature. The company also amended its $300 million unsecured term loan to be based on SOFR. These adjustments reinforce ROIC's financial stability, as stated by CFO Michael B. Haines. The banking group involved includes major institutions like KeyBanc Capital Markets and Bank of America.
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