Retail Opportunity Investments Corp. (NASDAQ:ROIC) Q4 2022 Earnings Conference Call February 16, 2023 12:00 PM ET
Company Participants
Laurie Sneve - Chief Accounting Officer
Stuart Tanz - Chief Executive Officer
Michael Haines - Chief Financial Officer
Richard Schoebel - Chief Operating Officer
Conference Call Participants
Wesley Golladay - Robert W. Baird & Co.
Lizzy Doykan - Bank of America Merrill Lynch
Juan Sanabria - BMO Capital Markets
Craig Mailman - Citigroup Inc.
Todd Thomas - KeyBanc Capital Markets
Michael Mueller - JPMorgan Chase & Co.
Operator
Welcome to the Retail Opportunity Investments 2022 Fourth Quarter and Year-End Conference Call. Participants are currently in a listen-only mode. Following the Company’s prepared remarks, the call will be open up for questions.
Now, I would like to introduce Laurie Sneve, the Company’s Chief Accounting Officer.
Laurie Sneve
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, Laurie, and good day, everyone. Here with Laurie and me today is Michael Haines, our Chief Financial Officer; and Rich Schoebel, our Chief Operating Officer.
We are pleased to report that during 2022 through implementing our longstanding strategic property operations leasing and investment initiatives, we continue to enhance the long-term intrinsic value and competitive position of ROIC's portfolio and business. In the face of significant economic headwinds and uncertainty that continued throughout 2022, our grocery-anchored portfolio again proved with a time tested resiliency and value.
In fact, capitalizing on the longstanding appeal and strength of our portfolio in West Coast markets, we had one of the best, most active years to date in terms of property operations and leasing, setting a new number of new records. We achieved a new record high portfolio lease rates surpassing 98% at year-end.