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Wednesday, Sep 28, 2022
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ROIC Reports Third-Quarter Increase in Revenue, Net Income

San Diego-based Retail Opportunity Investments Corp., also known as ROIC, reported total revenue of $50.1 million in its third quarter ending Sept. 30, an increase of 22.5 percent from the year-ago period.

Net income applicable to common shareholders was $7.8 million, up from $7 million a year ago. Funds from operations, an industry-recognized supplemental metric gauging real estate portfolio performance, totaled $25.9 million, up from $20.8 million in 2014’s third quarter.

President and CEO Stuart A. Tanz said in a statement that the real estate investment trust secured $310 million in grocery-anchored shopping center acquisitions in the first nine months of 2015.

Retail Opportunity Investments Corp. (Nasdaq: ROIC), is a retail-focused REIT with headquarters in University Towne Center. As of Sept. 30, it owned 68 primarily West Coast shopping centers encompassing approximately 8.1 million square feet.

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