Retail Opportunity Investments Corp. Provides Portfolio Update

Rhea-AI Summary

Retail Opportunity Investments Corp. (NASDAQ: ROIC) announced that all 88 shopping centers are operational as of May 29, 2020. Notably, 98% of its portfolio is grocery or drug-store anchored, with 76.5% of tenants open based on annualized base rent. Additionally, 71.0% of May's billed monthly base rent has been paid. CEO Stuart A. Tanz noted the strong performance amid the COVID-19 pandemic and emphasized support for tenants as stay-at-home orders are lifted. ROIC, specializing in grocery-anchored shopping centers, continues to navigate the challenges posed by the pandemic effectively.

Positive

• All 88 shopping centers are operational.
• 98% of portfolio is grocery or drug-store anchored.
• 76.5% of tenants are currently open.
• 71.0% of May's billed monthly base rent has been paid.

Negative

• None.

SAN DIEGO, June 01, 2020 (GLOBE NEWSWIRE) -- Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today the following portfolio and operating statistics as of May 29, 2020:

• All 88 shopping centers are open and operating
• 98% of total portfolio (86 shopping centers) are grocery and/or drug-store anchored
• 76.5% of total tenants are open and operating (based on annualized base rent)
• 71.0% of May 2020 billed monthly base rent has been paid to date

Stuart A. Tanz, President and Chief Executive Officer of Retail Opportunity Investments Corp. stated, “Given that our tenant base is predominately comprised of essential businesses, providing daily-necessity goods and services to their communities, our portfolio continues to perform remarkably well during the COVID-19 pandemic, with our portfolio’s May performance being consistent with April.  Looking ahead, now that stay-at-home orders are beginning to be gradually lifted on the West Coast, we are diligently working to help tenants get their businesses reopened, per state guidelines, and to build upon our April and May performance as we move through June and into the third quarter.”

For additional information, please refer to ROIC’s Investor Presentation, dated June 1, 2020, that can be found at: www.roireit.net.

ABOUT RETAIL OPPORTUNITY INVESTMENTS CORP.

Retail Opportunity Investments Corp. (NASDAQ: ROIC), is a fully-integrated, self-managed real estate investment trust (REIT) that specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely-populated, metropolitan markets across the West Coast.  As of March 31, 2020, ROIC owned 88 shopping centers encompassing approximately 10.1 million square feet.  ROIC is the largest publicly-traded, grocery-anchored shopping center REIT focused exclusively on the West Coast.  ROIC is a member of the S&P SmallCap 600 Index and has investment-grade corporate debt ratings from Moody's Investor Services and Standard & Poor’s.  Additional information is available at: www.roireit.net.

When used herein, the words “believes,” “anticipates,” “projects,” “should,” “estimates,” “expects,” “guidance” and similar expressions are intended to identify forward-looking statements with the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and in Section 21F of the Securities and Exchange Act of 1934, as amended. Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results of ROIC to differ materially from future results expressed or implied by such forward-looking statements.  Information regarding such risks and factors is described in ROIC's filings with the SEC, including its most recent Annual Report on Form 10-K, which is available at: www.roireit.net.

Contact:
Ashley Rubino, Investor Relations
858-677-0900
arubino@roireit.net

Source: Retail Opportunity Investments Corp.

FAQ

What is ROIC's current operating status as of May 2020?

As of May 29, 2020, all 88 shopping centers operated by Retail Opportunity Investments Corp. are open.

What percentage of ROIC's tenants are open as of May 2020?

76.5% of ROIC's tenants are open and operating based on annualized base rent.

How many shopping centers does ROIC own?

Retail Opportunity Investments Corp. owns a total of 88 shopping centers.

What is the percentage of May 2020 rent collected by ROIC?

71.0% of May 2020's billed monthly base rent has been paid to date.

What kind of businesses comprise ROIC's tenant base?

ROIC's tenant base is predominantly essential businesses providing daily-necessity goods and services.