Retail Opportunity Investments Corp. Reports 2020 Results
SAN DIEGO, Feb. 23, 2021 (GLOBE NEWSWIRE) Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today financial and operating results for the year and three months ended December 31, 2020.
YEAR 2020 HIGHLIGHTS
$132.5 million in Funds From Operations (FFO)
(1) ($1.05 per diluted share)
90.6% of total billed base rent during pandemic has been paid to date (2Q‘20 – 4Q‘20)
96.8% portfolio lease rate at year-end (8th consecutive year above 96%)
1.2mm sq. ft. of leases executed (10th consecutive year of leasing ~ 2x original expirations)
12.5% increase in same-space cash rents on new leases (7.9% increase on renewals)
4.6% decrease in same-center cash net operating income (2020 vs. 2019)
96.5% of total debt effectively fixed-rate at year-end (no debt maturing in 2021)