Retail Opportunity Investments Corp. (NASDAQ:ROIC) Q3 2024 Earnings Conference Call October 23, 2024 9:00 AM ET

Company Participants

Lauren Silveira - Chief Accounting Officer
Stuart Tanz - President and Chief Executive Officer
Michael Haines - Chief Financial Officer
Richard Schoebel - Chief Operating Officer

Conference Call Participants

Dori Kesten - Wells Fargo Securities
Juan Sanabria - BMO Capital Markets
Craig Mailman - Citi
Todd Thomas - KeyBanc Capital Markets
Wesley Golladay - Baird
Michael Mueller - JPMorgan
Paulina Rojas-Schmidt - Green Street

Operator

Welcome to Retail Opportunity Investments' Third Quarter 2024 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 would like to introduce Lauren Silveira, the company's Chief Accounting Officer.

Lauren Silveira

Thank you. 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 morning, everyone. Here with Lauren and me today is Michael Haines, our Chief Financial Officer; and Rich Schoebel, our Chief Operating Officer.

Before we begin, over the past several months, we've received a number of questions regarding speculation in the market. As a matter of company policy, we do not comment on market rumors or speculation and will not do so today. What we will say is that the company carefully evaluates all opportunities to enhance value with the objective of taking actions that this company firmly believes are in the best interest of all stakeholders.

Turning to the company's performance. We are pleased to report that the fundamentals of our grocery-anchored shopping centers and the grocery-anchored sector as well as the fundamentals of our protected supply-constrained markets all remain rock solid and continue to be our long-standing core drivers of our business. Perhaps the best evidence of this is our portfolio lease rate, which has been above 96% for the past 10 years and today stands at a strong 97.1%.