Retail Opportunity Investments Corp. (NASDAQ:ROIC) Q2 2023 Earnings Conference Call July 26, 2023 12:00 PM ET
Company Participants
Lauren Silveira - Chief Accounting Officer
Stuart Tanz - Chief Executive Officer
Richard Schoebel - Chief Operating Officer
Michael Haines - Chief Financial Officer
Conference Call Participants
Nick Joseph - Citi
Todd Thomas - KeyBanc
Lizzy Doykan - Bank of America
Wesley Golladay - Baird
Juan Sanabria - BMO capital Markets
Michael Mueller - JPMorgan
Dori Kesten - Wells Fargo
Linda Tsai - Jefferies
RJ Milligan - Raymond James
Operator
Welcome to the Retail Opportunity Investments Second Quarter 2023 Conference Call. Participants are currently in a listen-only mode. Following the company's prepared remarks, the call will be opened up for questions.
Now, I'd like to introduce Lauren Silveira, the company's Chief Accounting Officer.
Lauren Silveira
Thank you. Before we begin, please note that certain matters which we will discuss on today's call are forward-looking statements within the meaning of federal securities laws. These forward-looking statements involve risks and other factors which can cause actual results to differ significantly from future results that are expressed or implied by such forward-looking statements. Participants should refer to the company's filings with the SEC, including our most recent annual report on Form 10-K to learn more about these risks and other factors.
In addition, we will be discussing certain non-GAAP financial results on today's call. Reconciliation of these non-GAAP financial results to GAAP results can be found in the company's quarterly supplemental, which is posted on our website.
Now, I'll turn the call over to Stuart Tanz, the company's Chief Executive Officer. Stuart?
Stuart Tanz
Thank you, Lauren, and good day, everyone. Here with Lauren and me today is Michael Haines, our Chief Financial Officer’ and Rich Schoebel, our Chief Operating Officer.
We are pleased to report that our grocery-anchored portfolio continues to perform well. Demand for space continues to be strong, coming from a growing broad range of necessity, service, and destination tenants, all of which continue to seek out our grocery-anchored shopping centers.
Capitalizing on the demand and building on our record leasing activity in the first quarter, during the second quarter, we again posted a record amount of leasing. In fact, in just the first six months alone, we've already leased approximately 1 million square feet of space, which is a new record for the company. For reference, at the start of the year, we had 859,000 square feet scheduled to mature during all of 2023. The fact that we've already surpassed that amount at mid-year speaks to the success of our longstanding, hands-on approach and the fundamental appeal of our grocery-anchored shopping centers.