View Filing Data

Print Document View Excel Document

Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 30, 2019	Jul. 19, 2019
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-33749
Entity Registrant Name	RETAIL OPPORTUNITY INVESTMENTS CORP
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	26-0500600
Entity Address, Address Line One	11250 El Camino Real
Entity Address, City or Town	San Diego,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92130
City Area Code	858
Local Phone Number	677-0900
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	ROIC
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding (in shares)		114,307,789
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001407623
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Retail Opportunity Investments Partnership L.P.
Document Information [Line Items]
Entity Registrant Name	Retail Opportunity Investments Partnerships L.P.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-2969738
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001577230

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Real Estate Investments:
Land	$ 887,080	$ 894,240
Building and improvements	2,257,777	2,266,232
Total real estate investments	3,144,857	3,160,472
Less: accumulated depreciation	359,090	329,207
Real estate investments, net before mortgage notes receivable	2,785,767	2,831,265
Mortgage note receivable	13,250	0
Real Estate Investments, net	2,799,017	2,831,265
Cash and cash equivalents	7,488	6,076
Restricted cash	1,554	1,373
Tenant and other receivables, net	44,304	46,832
Acquired lease intangible assets, net	66,285	72,109
Prepaid expenses	1,479	4,194
Deferred charges, net	30,323	33,857
Other	18,519	7,365
Total assets	2,968,969	3,003,071
Liabilities:
Term loan	299,201	299,076
Credit facility	149,120	153,689
Senior Notes	942,145	941,449
Mortgage notes payable	88,019	88,511
Acquired lease intangible liabilities, net	154,059	166,146
Accounts payable and accrued expenses	15,287	15,488
Tenants’ security deposits	7,118	7,065
Other liabilities	39,426	23,219
Total liabilities	1,694,375	1,694,643
Commitments and contingencies
Equity/Capital:
Preferred stock, $0.0001 par value 50,000,000 shares authorized; none issued and outstanding	0	0
Common stock, $0.0001 par value, 500,000,000 shares authorized; 114,307,789 and 113,992,837 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively	11	11
Additional paid-in capital	1,443,165	1,441,080
Dividends in excess of earnings	(280,488)	(256,438)
Accumulated other comprehensive (loss) income	(4,327)	3,561
Total Retail Opportunity Investments Corp. stockholders’ equity	1,158,361	1,188,214
Non-controlling interests	116,233	120,214
Total equity/capital	1,274,594	1,308,428
Total liabilities and equity/capital	2,968,969	3,003,071
Retail Opportunity Investments Partnership L.P.
Real Estate Investments:
Land	887,080	894,240
Building and improvements	2,257,777	2,266,232
Total real estate investments	3,144,857	3,160,472
Less: accumulated depreciation	359,090	329,207
Real estate investments, net before mortgage notes receivable	2,785,767	2,831,265
Mortgage note receivable	13,250	0
Real Estate Investments, net	2,799,017	2,831,265
Cash and cash equivalents	7,488	6,076
Restricted cash	1,554	1,373
Tenant and other receivables, net	44,304	46,832
Acquired lease intangible assets, net	66,285	72,109
Prepaid expenses	1,479	4,194
Deferred charges, net	30,323	33,857
Other	18,519	7,365
Total assets	2,968,969	3,003,071
Liabilities:
Term loan	299,201	299,076
Credit facility	149,120	153,689
Senior Notes	942,145	941,449
Mortgage notes payable	88,019	88,511
Acquired lease intangible liabilities, net	154,059	166,146
Accounts payable and accrued expenses	15,287	15,488
Tenants’ security deposits	7,118	7,065
Other liabilities	39,426	23,219
Total liabilities	1,694,375	1,694,643
Commitments and contingencies
Equity/Capital:
ROIC capital	1,162,688	1,184,653
Limited partners’ capital	116,233	120,214
Accumulated other comprehensive (loss) income	(4,327)	3,561
Total equity/capital	1,274,594	1,308,428
Total liabilities and equity/capital	$ 2,968,969	$ 3,003,071

Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	114,307,789	113,992,837
Common stock, shares outstanding (in shares)	114,307,789	113,992,837

Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues
Rental revenue	$ 71,821	$ 71,521	$ 147,188	$ 143,059
Other income	1,109	820	1,795	3,677
Total revenues	72,930	72,341	148,983	146,736
Operating expenses
Property operating	10,710	11,017	21,771	21,495
Property taxes	7,832	7,914	16,070	15,733
Depreciation and amortization	24,443	25,331	49,204	50,548
General and administrative expenses	4,950	3,990	9,226	7,521
Other expense	1,224	274	1,317	343
Total operating expenses	49,159	48,526	97,588	95,640
Gain on sale of real estate	180	0	2,818	0
Operating income	23,951	23,815	54,213	51,096
Non-operating expenses
Interest expense and other finance expenses	(15,605)	(15,713)	(31,284)	(31,170)
Net income	8,346	8,102	22,929	19,926
Net income attributable to non-controlling interests	(761)	(763)	(2,094)	(1,885)
Net Income Attributable to Retail Opportunity Investments Corp.	$ 7,585	$ 7,339	$ 20,835	$ 18,041
Earnings per share/unit - Basic and diluted (in dollars per share)	$ 0.07	$ 0.06	$ 0.18	$ 0.16
Dividends per share/unit (in dollars per share)	$ 0.1970	$ 0.1950	$ 0.394	$ 0.3900
Comprehensive income:
Net income	$ 8,346	$ 8,102	$ 22,929	$ 19,926
Other comprehensive (loss) income:
Unrealized swap derivative (loss) gain arising during the period	(4,815)	1,397	(7,423)	4,787
Reclassification adjustment for amortization of interest expense included in net income	(263)	174	(465)	592
Other comprehensive (loss) income	(5,078)	1,571	(7,888)	5,379
Comprehensive income	3,268	9,673	15,041	25,305
Comprehensive income attributable to non-controlling interests	(761)	(763)	(2,094)	(1,885)
Comprehensive income attributable to Retail Opportunity Investments Corp.	2,507	8,910	12,947	23,420
Retail Opportunity Investments Partnership L.P.
Revenues
Rental revenue	71,821	71,521	147,188	143,059
Other income	1,109	820	1,795	3,677
Total revenues	72,930	72,341	148,983	146,736
Operating expenses
Property operating	10,710	11,017	21,771	21,495
Property taxes	7,832	7,914	16,070	15,733
Depreciation and amortization	24,443	25,331	49,204	50,548
General and administrative expenses	4,950	3,990	9,226	7,521
Other expense	1,224	274	1,317	343
Total operating expenses	49,159	48,526	97,588	95,640
Gain on sale of real estate	180	0	2,818	0
Operating income	23,951	23,815	54,213	51,096
Non-operating expenses
Interest expense and other finance expenses	(15,605)	(15,713)	(31,284)	(31,170)
Net income	$ 8,346	$ 8,102	$ 22,929	$ 19,926
Earnings per share/unit - Basic and diluted (in dollars per share)	$ 0.07	$ 0.06	$ 0.18	$ 0.16
Dividends per share/unit (in dollars per share)	$ 0.1970	$ 0.1950	$ 0.3940	$ 0.3900
Comprehensive income:
Net income	$ 8,346	$ 8,102	$ 22,929	$ 19,926
Other comprehensive (loss) income:
Unrealized swap derivative (loss) gain arising during the period	(4,815)	1,397	(7,423)	4,787
Reclassification adjustment for amortization of interest expense included in net income	(263)	174	(465)	592
Other comprehensive (loss) income	(5,078)	1,571	(7,888)	5,379
Comprehensive income	$ 3,268	$ 9,673	$ 15,041	$ 25,305

Consolidated Statement of Equity - USD ($) $ in Thousands	Total	Common Stock	Additional paid-in capital	Accumulated dividends in excess of earnings	Accumulated other comprehensive income (loss)	Non- controlling interests	Officer	Officer Accumulated dividends in excess of earnings	Officer Non- controlling interests
Balance (in shares) at Dec. 31, 2017		112,347,451
Balance at Dec. 31, 2017	$ 1,329,641	$ 11	$ 1,412,590	$ (210,490)	$ 1,856	$ 125,674
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued under the Equity Incentive Plan (in shares)		373,861
Shares issued under the Equity Incentive Plan	0		0
Shares withheld for employee taxes (in shares)		(70,168)
Shares withheld for employee taxes	(1,400)		(1,400)
Cancellation of restricted stock (in shares)		(4,999)
Stock based compensation expense	1,428		1,428
Adjustment to non-controlling interests ownership in Operating Partnership			(191)			191
Proceeds from the issuance of common stock (in shares)		75,314
Proceeds from the issuance of common stock	1,508	$ 0	1,508
Registration expenditures	(48)		(48)
Cash dividends	(24,258)			(21,981)		(2,277)	$ (72)	$ (72)
Net income attributable to Retail Opportunity Investments Corp.	10,702			10,702
Net income attributable to non-controlling interests	1,122					1,122
Other comprehensive income (loss)	3,808				3,808
Balance (in shares) at Mar. 31, 2018		112,721,459
Balance at Mar. 31, 2018	1,322,431	$ 11	1,413,887	(221,841)	5,664	124,710
Balance (in shares) at Dec. 31, 2017		112,347,451
Balance at Dec. 31, 2017	1,329,641	$ 11	1,412,590	(210,490)	1,856	125,674
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Retail Opportunity Investments Corp.	18,041
Net income attributable to non-controlling interests	1,885
Balance (in shares) at Jun. 30, 2018		112,719,459
Balance at Jun. 30, 2018	1,309,121	$ 11	1,415,286	(236,570)	7,235	123,159
Balance (in shares) at Mar. 31, 2018		112,721,459
Balance at Mar. 31, 2018	1,322,431	$ 11	1,413,887	(221,841)	5,664	124,710
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cancellation of restricted stock (in shares)		(2,000)
Stock based compensation expense	1,991		1,991
Cash redemption for non-controlling interests	(560)					(560)
Adjustment to non-controlling interests ownership in Operating Partnership			(522)			522
Registration expenditures	(70)		(70)
Cash dividends	(24,256)			(21,980)		(2,276)	(88)	(88)
Net income attributable to Retail Opportunity Investments Corp.	7,339			7,339
Net income attributable to non-controlling interests	763					763
Other comprehensive income (loss)	1,571				1,571
Balance (in shares) at Jun. 30, 2018		112,719,459
Balance at Jun. 30, 2018	$ 1,309,121	$ 11	1,415,286	(236,570)	7,235	123,159
Balance (in shares) at Dec. 31, 2018	113,992,837	113,992,837
Balance at Dec. 31, 2018	$ 1,308,428	$ 11	1,441,080	(256,438)	3,561	120,214
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued under the Equity Incentive Plan (in shares)		445,022
Shares issued under the Equity Incentive Plan	0		0
Shares withheld for employee taxes (in shares)		(125,072)
Shares withheld for employee taxes	(1,986)		(1,986)
Cancellation of restricted stock (in shares)		(999)
Stock based compensation expense	1,651		1,651
Cash redemption for non-controlling interests	(1,246)					(1,246)
Adjustment to non-controlling interests ownership in Operating Partnership			56			(56)
Registration expenditures	(47)		(47)
Cash dividends	(24,766)			(22,519)		(2,247)	142	142
Net income attributable to Retail Opportunity Investments Corp.	13,250			13,250
Net income attributable to non-controlling interests	1,333					1,333
Other comprehensive income (loss)	(2,810)				(2,810)
Balance (in shares) at Mar. 31, 2019		114,311,788
Balance at Mar. 31, 2019	$ 1,293,949	$ 11	1,440,754	(265,565)	751	117,998
Balance (in shares) at Dec. 31, 2018	113,992,837	113,992,837
Balance at Dec. 31, 2018	$ 1,308,428	$ 11	1,441,080	(256,438)	3,561	120,214
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Retail Opportunity Investments Corp.	20,835
Net income attributable to non-controlling interests	$ 2,094
Balance (in shares) at Jun. 30, 2019	114,307,789	114,307,789
Balance at Jun. 30, 2019	$ 1,274,594	$ 11	1,443,165	(280,488)	(4,327)	116,233
Balance (in shares) at Mar. 31, 2019		114,311,788
Balance at Mar. 31, 2019	1,293,949	$ 11	1,440,754	(265,565)	751	117,998
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cancellation of restricted stock (in shares)		(3,999)
Stock based compensation expense	2,239		1,852			387
Adjustment to non-controlling interests ownership in Operating Partnership			592			(592)
Registration expenditures	(33)		(33)
Cash dividends	(24,764)			(22,517)		(2,247)	$ (65)	$ 9	$ (74)
Net income attributable to Retail Opportunity Investments Corp.	7,585			7,585
Net income attributable to non-controlling interests	761					761
Other comprehensive income (loss)	$ (5,078)				(5,078)
Balance (in shares) at Jun. 30, 2019	114,307,789	114,307,789
Balance at Jun. 30, 2019	$ 1,274,594	$ 11	$ 1,443,165	$ (280,488)	$ (4,327)	$ 116,233

Consolidated Statement of Equity (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Cash distributions per unit (in dollars per share)	$ 0.197	$ 0.1950
Dividends per share/unit (in dollars per share)	$ 0.1970	$ 0.1950	$ 0.394	$ 0.3900

Consolidated Statement of Partners' Capital - USD ($)
$ in Thousands

Total

Retail Opportunity Investments Partnership L.P.

Officer

Retail Opportunity Investments Partnership L.P.

Limited Partner’s Capital

Retail Opportunity Investments Partnership L.P.

Limited Partner’s Capital

Officer

^[1]

Retail Opportunity Investments Partnership L.P.

ROIC Capital

Retail Opportunity Investments Partnership L.P.

ROIC Capital

Officer

^[2]

Retail Opportunity Investments Partnership L.P.

Accumulated other comprehensive income (loss)

Balance (in shares) at Dec. 31, 2017

11,678,991

^[1]

112,347,451

^[2]

Balance at Dec. 31, 2017

$ 1,329,641

$ 125,674

^[1]

$ 1,202,111

^[2]

$ 1,856

Increase (Decrease) in Partners' Capital [Roll Forward]

OP units issued under the Equity Incentive Plan (in shares)

^[2]

373,861

OP Units issued under the Equity Incentive Plan

$ 0

^[2]

OP Units withheld for employee taxes (in shares)

^[2]

(70,168)

OP Units withheld for employee taxes

(1,400)

$ (1,400)

^[2]

Cancellation of OP Units (in shares)

^[2]

(4,999)

Cancellation of OP Units

$ 0

^[2]

Stock based compensation expense

1,428

^[2]

Adjustment to non-controlling interests ownership in Operating Partnership

191

^[1]

$ (191)

^[2]

Issuance of OP Units in connection with sale of common stock (in shares)

^[2]

75,314

Issuance of OP Units in connection with sale of common stock

1,508

$ 1,508

^[2]

Registration expenditures

(48)

^[2]

Cash distributions

(24,258)

$ (72)

(2,277)

^[1]

(21,981)

^[2]

$ (72)

Net income attributable to Retail Opportunity Investments Partnership, LP

11,824

$ 1,122

^[1]

$ 10,702

^[2]

Other comprehensive income (loss)

3,808

Balance (in shares) at Mar. 31, 2018

11,678,991

^[1]

112,721,459

^[2]

Balance at Mar. 31, 2018

1,322,431

$ 124,710

^[1]

$ 1,192,057

^[2]

5,664

Balance (in shares) at Dec. 31, 2017

11,678,991

^[1]

112,347,451

^[2]

Balance at Dec. 31, 2017

1,329,641

$ 125,674

^[1]

$ 1,202,111

^[2]

1,856

Increase (Decrease) in Partners' Capital [Roll Forward]

Net income attributable to Retail Opportunity Investments Partnership, LP

19,926

Balance (in shares) at Jun. 30, 2018

11,648,102

^[1]

112,719,459

^[2]

Balance at Jun. 30, 2018

1,309,121

$ 123,159

^[1]

$ 1,178,727

^[2]

7,235

Balance (in shares) at Mar. 31, 2018

11,678,991

^[1]

112,721,459

^[2]

Balance at Mar. 31, 2018

1,322,431

$ 124,710

^[1]

$ 1,192,057

^[2]

5,664

Increase (Decrease) in Partners' Capital [Roll Forward]

Cancellation of OP Units (in shares)

^[2]

(2,000)

Cancellation of OP Units

$ 0

^[2]

Stock based compensation expense

1,991

^[2]

Cash redemption of OP Units (in units)

^[1]

(30,889)

Cash redemption for non-controlling interests

(560)

$ (560)

^[1]

Adjustment to non-controlling interests ownership in Operating Partnership

522

^[1]

(522)

^[2]

Registration expenditures

(70)

^[2]

Cash distributions

(24,256)

(88)

(2,276)

^[1]

(21,980)

^[2]

(88)

Net income attributable to Retail Opportunity Investments Partnership, LP

8,102

$ 763

^[1]

$ 7,339

^[2]

Other comprehensive income (loss)

1,571

Balance (in shares) at Jun. 30, 2018

11,648,102

^[1]

112,719,459

^[2]

Balance at Jun. 30, 2018

1,309,121

$ 123,159

^[1]

$ 1,178,727

^[2]

7,235

Balance (in shares) at Dec. 31, 2018

11,477,041

^[1]

113,992,837

^[2]

Balance at Dec. 31, 2018

1,308,428

$ 120,214

^[1]

$ 1,184,653

^[2]

3,561

Increase (Decrease) in Partners' Capital [Roll Forward]

OP units issued under the Equity Incentive Plan (in shares)

^[2]

445,022

OP Units issued under the Equity Incentive Plan

$ 0

^[2]

OP Units withheld for employee taxes (in shares)

^[2]

(125,072)

OP Units withheld for employee taxes

(1,986)

$ (1,986)

^[2]

Cancellation of OP Units (in shares)

^[2]

(999)

Cancellation of OP Units

$ 0

^[2]

Stock based compensation expense

1,651

^[2]

Cash redemption of OP Units (in units)

^[1]

(70,000)

Cash redemption for non-controlling interests

(1,246)

$ (1,246)

^[1]

Adjustment to non-controlling interests ownership in Operating Partnership

(56)

^[1]

^[2]

Registration expenditures

(47)

^[2]

Cash distributions

(24,766)

142

(2,247)

^[1]

(22,519)

^[2]

142

Net income attributable to Retail Opportunity Investments Partnership, LP

14,583

$ 1,333

^[1]

$ 13,250

^[2]

Other comprehensive income (loss)

(2,810)

Balance (in shares) at Mar. 31, 2019

11,407,041

^[1]

114,311,788

^[2]

Balance at Mar. 31, 2019

1,293,949

$ 117,998

^[1]

$ 1,175,200

^[2]

751

Balance (in shares) at Dec. 31, 2018

11,477,041

^[1]

113,992,837

^[2]

Balance at Dec. 31, 2018

1,308,428

$ 120,214

^[1]

$ 1,184,653

^[2]

3,561

Increase (Decrease) in Partners' Capital [Roll Forward]

Net income attributable to Retail Opportunity Investments Partnership, LP

$ 22,929

22,929

Balance (in shares) at Jun. 30, 2019

125,714,830

11,407,041

^[1]

114,307,789

^[2]

Balance at Jun. 30, 2019

1,274,594

$ 116,233

^[1]

$ 1,162,688

^[2]

(4,327)

Balance (in shares) at Mar. 31, 2019

11,407,041

^[1]

114,311,788

^[2]

Balance at Mar. 31, 2019

1,293,949

$ 117,998

^[1]

$ 1,175,200

^[2]

751

Increase (Decrease) in Partners' Capital [Roll Forward]

Cancellation of OP Units (in shares)

^[2]

(3,999)

Cancellation of OP Units

$ 0

^[2]

Stock based compensation expense

$ 2,239

2,239

387

^[1]

1,852

^[2]

Adjustment to non-controlling interests ownership in Operating Partnership

(592)

^[1]

592

^[2]

Registration expenditures

(33)

^[2]

Cash distributions

(24,764)

$ (65)

(2,247)

^[1]

$ (74)

(22,517)

^[2]

$ 9

Net income attributable to Retail Opportunity Investments Partnership, LP

8,346

$ 761

^[1]

$ 7,585

^[2]

Other comprehensive income (loss)

$ (5,078)

(5,078)

Balance (in shares) at Jun. 30, 2019

125,714,830

11,407,041

^[1]

114,307,789

^[2]

Balance at Jun. 30, 2019

$ 1,274,594

$ 116,233

^[1]

$ 1,162,688

^[2]

$ (4,327)

[1]	Consists of limited partnership interests held by third parties.
[2]	Consists of general and limited partnership interests held by ROIC.

Consolidated Statement of Partners' Capital (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Cash distributions per unit (in dollars per share)	$ 0.197	$ 0.1950
Retail Opportunity Investments Partnership L.P.
Cash distributions per unit (in dollars per share)	$ 0.197	$ 0.1950	$ 0.3940	$ 0.3900

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 22,929	$ 19,926
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	49,204	50,548
Amortization of deferred financing costs and mortgage premiums, net	1,033	926
Straight-line rent adjustment	(1,726)	(2,881)
Amortization of above and below market rent	(9,938)	(7,218)
Amortization relating to stock based compensation	3,890	3,419
Provisions for tenant credit losses	1,274	789
Other noncash interest expense	377	1,070
Gain on sale of real estate	(2,818)	0
Change in operating assets and liabilities:
Tenant and other receivables	2,060	3,254
Prepaid expenses	2,673	1,252
Accounts payable and accrued expenses	(1,037)	(2,925)
Other assets and liabilities, net	(5,540)	(1,248)
Net cash provided by operating activities	62,381	66,912
CASH FLOWS FROM INVESTING ACTIVITIES
Investments in real estate	0	(39,176)
Proceeds from sale of real estate	16,305	0
Improvements to properties	(18,863)	(21,662)
Deposits on real estate acquisitions, net	0	500
Net cash used in investing activities	(2,558)	(60,338)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal repayments on mortgages	(273)	(10,493)
Proceeds from draws on credit facility	43,000	110,000
Payments on credit facility	(48,000)	(61,500)
Redemption of OP Units	(1,246)	(560)
Distributions to OP Unitholders	(4,494)	(4,553)
Proceeds from the sale of common stock	0	1,508
Registration expenditures	(65)	(118)
Dividends paid to common shareholders	(45,166)	(44,045)
Shares withheld for employee taxes	(1,986)	(1,400)
Net cash used in financing activities	(58,230)	(11,161)
Net increase (decrease) in cash, cash equivalents and restricted cash	1,593	(4,587)
Cash, cash equivalents and restricted cash at beginning of period	7,449	16,965
Cash, cash equivalents and restricted cash at end of period	9,042	12,378
Other non-cash investing and financing activities increase (decrease):
Intangible lease liabilities	0	925
Interest rate swap asset	(4,931)	4,309
Interest rate swap liabilities	3,335	0
Accrued real estate improvement costs	2,888	2,493
Disposition of real estate through issuance of mortgage note	13,250	0
Reconciliation of cash, cash equivalents and restricted cash [Abstract]
Cash and cash equivalents	7,488	10,958
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows	7,449	16,965
Retail Opportunity Investments Partnership L.P.
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	22,929	19,926
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	49,204	50,548
Amortization of deferred financing costs and mortgage premiums, net	1,033	926
Straight-line rent adjustment	(1,726)	(2,881)
Amortization of above and below market rent	(9,938)	(7,218)
Amortization relating to stock based compensation	3,890	3,419
Provisions for tenant credit losses	1,274	789
Other noncash interest expense	377	1,070
Gain on sale of real estate	(2,818)	0
Change in operating assets and liabilities:
Tenant and other receivables	2,060	3,254
Prepaid expenses	2,673	1,252
Accounts payable and accrued expenses	(1,037)	(2,925)
Other assets and liabilities, net	(5,540)	(1,248)
Net cash provided by operating activities	62,381	66,912
CASH FLOWS FROM INVESTING ACTIVITIES
Investments in real estate	0	(39,176)
Proceeds from sale of real estate	16,305	0
Improvements to properties	(18,863)	(21,662)
Deposits on real estate acquisitions, net	0	500
Net cash used in investing activities	(2,558)	(60,338)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal repayments on mortgages	(273)	(10,493)
Proceeds from draws on credit facility	43,000	110,000
Payments on credit facility	(48,000)	(61,500)
Redemption of OP Units	(1,246)	(560)
Distributions to OP Unitholders	(49,660)	(48,598)
Proceeds from the sale of common stock	0	1,508
Registration expenditures	(65)	(118)
Shares withheld for employee taxes	(1,986)	(1,400)
Net cash used in financing activities	(58,230)	(11,161)
Net increase (decrease) in cash, cash equivalents and restricted cash	1,593	(4,587)
Cash, cash equivalents and restricted cash at beginning of period	7,449	16,965
Cash, cash equivalents and restricted cash at end of period	9,042	12,378
Other non-cash investing and financing activities increase (decrease):
Intangible lease liabilities	0	925
Interest rate swap asset	(4,931)	4,309
Interest rate swap liabilities	3,335	0
Accrued real estate improvement costs	2,888	2,493
Disposition of real estate through issuance of mortgage note	13,250	0
Reconciliation of cash, cash equivalents and restricted cash [Abstract]
Cash and cash equivalents	7,488	10,958
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows	$ 7,449	$ 16,965

Organization, Basis of Presentation and Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Basis of Presentation and Summary of Significant Accounting Policies

Business

Retail Opportunity Investments Corp., a Maryland corporation (“ROIC”), is a fully integrated and self-managed real estate investment trust (“REIT”). ROIC specializes in the acquisition, ownership and management of necessity-based community and neighborhood shopping centers on the west coast of the United States anchored by supermarkets and drugstores.

ROIC is organized in a traditional umbrella partnership real estate investment trust (“UpREIT”) format pursuant to which Retail Opportunity Investments GP, LLC, its wholly-owned subsidiary, serves as the general partner of, and ROIC conducts substantially all of its business through, its operating partnership subsidiary, Retail Opportunity Investments Partnership, LP, a Delaware limited partnership (the “Operating Partnership”), together with its subsidiaries. Unless otherwise indicated or unless the context requires otherwise, all references to the “Company”, “we,” “us,” “our,” or “our company” refer to ROIC together with its consolidated subsidiaries, including the Operating Partnership.

With the approval of its stockholders, ROIC reincorporated as a Maryland corporation on June 2, 2011. ROIC began operations as a Delaware corporation, known as NRDC Acquisition Corp., which was incorporated on July 10, 2007, for the purpose of acquiring assets or operating businesses through a merger, capital stock exchange, stock purchase, asset acquisition or other similar business combination. On October 20, 2009, ROIC’s stockholders and warrantholders approved, among other things, the steps to be taken by ROIC to continue its business as a corporation that has elected to qualify as a REIT for U.S. federal income tax purposes.

ROIC’s only material asset is its ownership of direct or indirect partnership interests in the Operating Partnership and membership interest in Retail Opportunity Investments GP, LLC, which is the sole general partner of the Operating Partnership. As a result, ROIC does not conduct business itself, other than acting as the parent company and issuing equity from time to time. The Operating Partnership holds substantially all the assets of the Company and directly or indirectly holds the ownership interests in the Company’s real estate ventures. The Operating Partnership conducts the operations of the Company’s business and is structured as a partnership with no publicly traded equity. Except for net proceeds from equity issuances by ROIC, which are contributed to the Operating Partnership, the Operating Partnership generates the capital required by the Company’s business through the Operating Partnership’s operations, by the Operating Partnership’s incurrence of indebtedness (directly and through subsidiaries) or through the issuance of operating partnership units (“OP Units”) of the Operating Partnership.

Recent Accounting Pronouncements

In February 2016, the FASB issued ASU No. 2016-2, “Leases.” ASU No. 2016-2 resulted in the recognition of a right-to-use asset and related liability to account for future obligations under ground lease agreements for which the Company is the lessee. In addition, this ASU requires that lessees and lessors capitalize, as initial direct costs, only those costs that are incurred due to the execution of a lease. Allocated payroll costs and other costs that are incurred regardless of whether the lease is obtained are no longer capitalized as initial direct costs and instead are expensed as incurred.

Under ASU No. 2016-2, each lease agreement will be evaluated to identify the lease components and nonlease components at lease inception. The total consideration in the lease agreement will be allocated to the lease and nonlease components based on their relative standalone selling prices. Lessors will continue to recognize the lease revenue component using an approach that is substantially equivalent to existing guidance for operating leases (straight-line basis). In July 2018, the FASB issued an amendment to ASU No. 2016-2 that allows lessors to elect, as a practical expedient, not to allocate the total consideration to lease and nonlease components based on their relative standalone selling prices. This practical expedient allows lessors to elect a combined single lease component presentation if (i) the timing and pattern of the revenue recognition of the combined single lease component is the same, and (ii) the related lease component and, the combined single lease component would be classified as an operating lease. The amendment also provides a transition option that permits the application of the new guidance as of the adoption date rather than to all periods presented. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted.

The Company adopted the provisions of ASU No. 2016-2 effective January 1, 2019 using the modified retrospective approach and accordingly, recognized a lease liability of approximately $18.0 million, which is included in Other liabilities on the accompanying balance sheet, and a related right-to-use asset of approximately $17.0 million, which is included in Other assets on the accompanying balance sheet, for all operating leases in which the Company is a lessee based on the present value of the minimum rental payments remaining as of the initial application date. The present value of the remaining lease payments was

calculated for each operating lease using each respective remaining lease term and a corresponding estimated incremental borrowing rate, which is the interest rate that the Company estimates it would have to pay to borrow on a collateralized basis over a similar term.

Based on its election of the package of practical expedients, the Company was not required to reassess whether any expired or existing contracts are or contain leases, reassess the lease classification for any expired or existing leases, or reassess initial direct costs for any existing leases. Accordingly, the Company’s ground lease agreements for which the Company is the lessee will continue to be accounted for as operating leases under the new standard. Further, the Company elected the practical expedient to account for both its lease and non-lease components as a combined single lease component and elected the optional transition method permitting January 1, 2019 to be its initial application date. Additionally, leasing payroll-related costs that are incurred regardless of whether leases are obtained are no longer capitalized as initial direct costs and instead are expensed as incurred. These costs amounted to approximately $277,000 and $611,000 during the three and six months ended June 30, 2018, respectively. Further, bad debt, which has previously been recorded in Property operating, has now been classified as a contra-revenue account in Rental revenue in the Company’s consolidated statements of operations and comprehensive income.

In June 2016, the FASB issued ASU No. 2016-13 “Financial Instruments - Credit Topics.” ASU No. 2016-13 requires companies to adopt a new approach to estimating credit losses on certain types of financial instruments, such as trade and other receivables and loans. The standard requires entities to estimate a lifetime expected credit loss for most financial instruments, including trade receivables. ASU 2016-13 will be effective for the Company beginning on January 1, 2020, with early adoption permitted. The Company continues to evaluate the impact this pronouncement will have on the Company’s consolidated financial statements.

Principles of Consolidation

The accompanying consolidated financial statements are prepared on the accrual basis in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for complete financial statement disclosures. In the opinion of management, the consolidated financial statements include all adjustments necessary, which are of a normal and recurring nature, for the fair presentation of the Company’s financial position and the results of operations and cash flows for the periods presented. Results of operations for the three and six month periods ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019. It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2018.

The consolidated financial statements include the accounts of the Company and those of its subsidiaries, which are wholly-owned or controlled by the Company. Entities which the Company does not control through its voting interest and entities which are variable interest entities (“VIEs”), but where it is not the primary beneficiary, are accounted for under the equity method. All significant intercompany balances and transactions have been eliminated.

The Company follows the FASB guidance for determining whether an entity is a VIE and requires the performance of a qualitative rather than a quantitative analysis to determine the primary beneficiary of a VIE. Under this guidance, an entity would be required to consolidate a VIE if it has (i) the power to direct the activities that most significantly impact the entity’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could be significant to the VIE. The Company has concluded that the Operating Partnership is a VIE, and because they have both the power and the rights to control the Operating Partnership, they are the primary beneficiary and are required to continue to consolidate the Operating Partnership.

A non-controlling interest in a consolidated subsidiary is defined as the portion of the equity (net assets) in a subsidiary not attributable, directly or indirectly, to a parent. Non-controlling interests are required to be presented as a separate component of equity in the consolidated balance sheet and modify the presentation of net income by requiring earnings and other comprehensive income to be attributed to controlling and non-controlling interests.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the disclosure of contingent assets and liabilities, the reported amounts of assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the periods covered by the financial statements. The most significant assumptions and estimates relate to the purchase price allocations, depreciable lives, revenue recognition and the collectability of tenant receivables, other receivables, notes receivables, the valuation of performance-based restricted stock, LTIPs, and derivatives. Actual results could differ from these estimates.

Federal Income Taxes

The Company has elected to qualify as a REIT under Sections 856-860 of the Internal Revenue Code (the “Code”). Under those sections, a REIT that, among other things, distributes at least 90% of its REIT taxable income (determined without regard to the dividends paid deduction and excluding net capital gains) and meets certain other qualifications prescribed by the Code, will not be taxed on that portion of its taxable income that is distributed. Although it may qualify as a REIT for U.S. federal income tax purposes, the Company is subject to state income or franchise taxes in certain states in which some of its properties are located. In addition, taxable income from non-REIT activities managed through the Company’s taxable REIT subsidiary (“TRS”), if any, is fully subject to U.S. federal, state and local income taxes. For all periods from inception through September 26, 2013 the Operating Partnership had been an entity disregarded from its sole owner, ROIC, for U.S. federal income tax purposes and as such had not been subject to U.S. federal income taxes. Effective September 27, 2013, the Operating Partnership issued OP Units in connection with the acquisitions of two shopping centers. Accordingly, the Operating Partnership ceased being a disregarded entity and instead is being treated as a partnership for U.S. federal income tax purposes.

The Company follows the FASB guidance that defines a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The FASB also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. The Company records interest and penalties relating to unrecognized tax benefits, if any, as interest expense. As of June 30, 2019, the statute of limitations for the tax years 2015 through and including 2017 remain open for examination by the Internal Revenue Service (“IRS”) and state taxing authorities.

ROIC intends to make regular quarterly distributions to holders of its common stock. U.S. federal income tax law generally requires that a REIT distribute annually at least 90% of its REIT taxable income, without regard to the deduction for dividends paid and excluding net capital gains, and that it pay U.S. federal income tax at regular corporate rates to the extent that it annually distributes less than 100% of its net taxable income. ROIC intends to pay regular quarterly dividends to stockholders in an amount not less than its net taxable income, if and to the extent authorized by its board of directors. Before ROIC pays any dividend, whether for U.S. federal income tax purposes or otherwise, it must first meet both its operating requirements and its debt service on debt. If ROIC’s cash available for distribution is less than its net taxable income, it could be required to sell assets or borrow funds to make cash distributions or it may make a portion of the required distribution in the form of a taxable stock distribution or distribution of debt securities.

Real Estate Investments

All costs related to the improvement or replacement of real estate properties are capitalized. Additions, renovations and improvements that enhance and/or extend the useful life of a property are also capitalized. Expenditures for ordinary maintenance, repairs and improvements that do not materially prolong the normal useful life of an asset are charged to operations as incurred. During the six months ended June 30, 2019 and 2018, capitalized costs related to the improvement or replacement of real estate properties were approximately $21.1 million and $20.6 million, respectively.

The Company evaluates each acquisition of real estate to determine if the acquired property meets the definition of a business and needs to be accounted for as a business combination. Under ASU No. 2017-1, the Company first determines whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. If this threshold is met, the acquired property does not meet the definition of a business and is accounted for as an asset acquisition. The Company expects that acquisitions of real estate properties will not meet the revised definition of a business because substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets (i.e. land, buildings, and related intangible assets).

The Company recognizes the acquisition of real estate properties, including acquired tangible assets (consisting of land, buildings and improvements), and acquired intangible assets and liabilities (consisting of above-market and below-market leases and acquired in-place leases) at their fair value (for acquisitions meeting the definition of a business) and relative fair value (for acquisitions

not meeting the definition of a business). The relative fair values used to allocate the cost of an asset acquisition are determined using the same methodologies and assumptions the Company utilizes to determine fair value in a business combination.

Acquired lease intangible assets include above-market leases and acquired in-place leases, and acquired lease intangible liabilities represent below-market leases, in the accompanying consolidated balance sheets. The fair value of the tangible assets of an acquired property is determined by valuing the property as if it were vacant, which value is then allocated to land, buildings and improvements based on management’s determination of the relative fair values of these assets. In valuing an acquired property’s intangibles, factors considered by management include an estimate of carrying costs during the expected lease-up periods, and estimates of lost rental revenue during the expected lease-up periods based on management’s evaluation of current market demand. Management also estimates costs to execute similar leases, including leasing commissions, tenant improvements, legal and other related costs. Leasing commissions, legal and other related costs (“lease origination costs”) are classified as deferred charges in the accompanying consolidated balance sheets.

The value of in-place leases is measured by the excess of (i) the purchase price paid for a property after adjusting existing in-place leases to market rental rates, over (ii) the estimated fair value of the property as if vacant. Above-market and below-market lease values are recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between the contractual amounts to be received and management’s estimate of market lease rates, measured over the terms of the respective leases that management deemed appropriate at the time of acquisition. Such valuations include a consideration of the non-cancellable terms of the respective leases as well as any applicable renewal periods. The fair values associated with below-market rental renewal options are determined based on the Company’s experience and the relevant facts and circumstances that existed at the time of the acquisitions. The value of the above-market and below-market leases is amortized to base rental income, over the terms of the respective leases including option periods, if applicable. The value of in-place leases is amortized to expense over the remaining non-cancellable terms of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts relating to that lease would be recognized in operations at that time.

The Company expenses transaction costs associated with business combinations and unsuccessful property asset acquisitions in the period incurred and capitalizes transaction costs associated with successful property asset acquisitions. In conjunction with the Company’s pursuit and acquisition of real estate investments, the Company did not expense any acquisition transaction costs during the three and six months ended June 30, 2019 or 2018.

Sales of real estate are recognized only when it is determined that the Company will collect substantially all of the consideration to which it is entitled, possession and other attributes of ownership have been transferred to the buyer and the Company has no significant continuing involvement. The application of these criteria can be complex and requires the Company to make assumptions. Management has determined that all of these criteria were met for all real estate sold during the periods presented.

Asset Impairment

The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset to aggregate future net cash flows (undiscounted and without interest) expected to be generated by the asset. If such assets are considered impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceed the fair value. Management does not believe that the value of any of the Company’s real estate investments was impaired at June 30, 2019 or December 31, 2018.

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents are maintained at financial institutions and, at times, balances may exceed the federally insured limit by the Federal Deposit Insurance Corporation. The Company has not experienced any losses related to these balances.

Restricted Cash

The terms of the Company’s mortgage loans payable may require the Company to deposit certain replacement and other reserves with its lenders. Such “restricted cash” is generally available only for property-level requirements for which the reserves have been established and is not available to fund other property-level or Company-level obligations.

Revenue Recognition

Management has determined that all of the Company’s leases with its various tenants are operating leases. Rental income is generally recognized based on the terms of leases entered into with tenants. In those instances in which the Company funds tenant improvements and the improvements are deemed to be owned by the Company, revenue recognition will commence when the improvements are substantially completed and possession or control of the space is turned over to the tenant. When the Company determines that the tenant allowances are lease incentives, the Company commences revenue recognition and lease incentive amortization when possession or control of the space is turned over to the tenant for tenant work to begin. Minimum rental income from leases with scheduled rent increases is recognized on a straight-line basis over the lease term. Prior to January 1, 2019, the Company considered property operating expense recoveries from tenants of common area maintenance, real estate taxes and other recoverable costs as lease components. Effective January 1, 2019, each lease agreement is evaluated to identify the lease and nonlease components at lease inception. The Company elected the single component practical expedient, which allows lessors to elect a combined single lease component presentation if (i) the timing and pattern of the revenue recognition of the combined single lease component is the same, and (ii) the related lease component and, the combined single lease component would be classified as an operating lease. As a result of this assessment, rental revenues and tenant recoveries from the lease of real estate assets are accounted for as a single component. Lease incentives are amortized as a reduction of rental revenue over the respective tenant lease terms.

Termination fees (included in Other income in the consolidated statements of operations and comprehensive income) are fees that the Company has agreed to accept in consideration for permitting certain tenants to terminate their lease prior to the contractual expiration date. The Company recognizes termination fees when the following conditions are met: (a) the termination agreement is executed; (b) the termination fee is determinable; (c) all landlord services pursuant to the terminated lease have been rendered; and (d) collectability of the termination fee is assured. Interest income is recognized as it is earned. Gains or losses on disposition of properties are recorded when the criteria for recognizing such gains or losses have been met.

The Company must make estimates as to the collectability of its accounts receivable related to base rent, straight-line rent, expense reimbursements and other revenues. Management analyzes accounts receivable by considering tenant creditworthiness, current economic trends, and changes in tenants’ payment patterns when evaluating the adequacy of the allowance for doubtful accounts receivable. The Company also provides an allowance for future credit losses of the deferred straight-line rents receivable. The provision for doubtful accounts at June 30, 2019 and December 31, 2018 was approximately $7.8 million and $6.9 million, respectively.

Depreciation and Amortization

The Company uses the straight-line method for depreciation and amortization. Buildings are depreciated over the estimated useful lives which the Company estimates to be 39-40 years. Property improvements are depreciated over estimated useful lives that range from 10 to 20 years. Furniture and fixtures are depreciated over estimated useful lives that range from 3 to 10 years. Tenant improvements are amortized over the shorter of the life of the related leases or their useful life.

Deferred Leasing Costs

Costs incurred in obtaining tenant leases (principally leasing commissions and acquired lease origination costs) are amortized ratably over the life of the tenant leases. The amortization of deferred leasing costs is included in Depreciation and amortization in the consolidated statements of operations and comprehensive income.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and tenant receivables. The Company places its cash and cash equivalents in excess of insured amounts with high quality financial institutions. The Company performs ongoing credit evaluations of its tenants and requires tenants to provide security deposits.

Earnings Per Share

Basic earnings per share (“EPS”) excludes the impact of dilutive shares and is computed by dividing net income by the weighted average number of shares of common stock outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue shares of common stock were exercised or converted into shares of common stock and then shared in the earnings of the Company.

For the three and six months ended June 30, 2019 and 2018, basic EPS was determined by dividing net income allocable to common stockholders for the applicable period by the weighted average number of shares of common stock outstanding during such period. Net income during the applicable period is also allocated to the time-based unvested restricted stock as these grants are entitled to receive dividends and are therefore considered a participating security. Time-based unvested restricted stock is not allocated net losses and/or any excess of dividends declared over net income; such amounts are allocated entirely to the common stockholders other than the holders of time-based unvested restricted stock. The performance-based restricted stock awards outstanding under the Equity Incentive Plan described in Note 7 are excluded from the basic EPS calculation, as these units are not participating securities until they vest.

The following table sets forth the reconciliation between basic and diluted EPS for ROIC (in thousands, except share data):



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Numerator:
Net income	$	8,346		$	8,102		$	22,929		$	19,926
Less income attributable to non-controlling interests	(761		)	(763		)	(2,094		)	(1,885		)
Less earnings allocated to unvested shares	(113		)	(100		)	(227		)	(201		)
Net income available for common stockholders, basic	$	7,472		$	7,239		$	20,608		$	17,840
Numerator:
Net income	$	8,346		$	8,102		$	22,929		$	19,926
Less earnings allocated to unvested shares	(113		)	(100		)	(227		)	(201		)
Net income available for common stockholders, diluted	$	8,233		$	8,002		$	22,702		$	19,725
Denominator:
Denominator for basic EPS – weighted average common equivalent shares	113,680,670			112,165,453			113,680,670			112,164,205
OP units	11,407,041			11,672,244			11,426,378			11,675,599
Performance-based restricted stock awards and LTIP Units	273,996			257,821			255,574			227,811
Stock options	96,525			109,471			95,491			110,323
Denominator for diluted EPS – weighted average common equivalent shares	125,458,232			124,204,989			125,458,113			124,177,938

Earnings Per Unit

The following table sets forth the reconciliation between basic and diluted earnings per unit for the Operating Partnership (in thousands, except unit data):



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Numerator:
Net income	$	8,346		$	8,102		$	22,929		$	19,926
Less earnings allocated to unvested shares	(113		)	(100		)	(227		)	(201		)
Net income available to unitholders, basic and diluted	$	8,233		$	8,002		$	22,702		$	19,725
Denominator:
Denominator for basic earnings per unit – weighted average common equivalent units	125,087,711			123,837,697			125,107,048			123,839,804
Performance-based restricted stock awards and LTIP Units	273,996			257,821			255,574			227,811
Stock options	96,525			109,471			95,491			110,323
Denominator for diluted earnings per unit – weighted average common equivalent units	125,458,232			124,204,989			125,458,113			124,177,938

Stock-Based Compensation

The Company has a stock-based employee compensation plan, which is more fully described in Note 7.

The Company accounts for its stock-based compensation plan based on the FASB guidance which requires that compensation expense be recognized based on the fair value of the stock awards less forfeitures. Restricted stock grants vest based upon the completion of a service period (“time-based restricted stock grants”) and/or the Company meeting certain established market-indexed financial performance criteria (“performance-based restricted stock grants”). Time-based grants are valued according to the market price for the Company’s common stock at the date of grant. For performance-based restricted stock grants, a Monte Carlo valuation model is used, taking into account the underlying contingency risks associated with the performance criteria. It is the Company’s policy to grant options with an exercise price equal to the quoted closing market price of stock on the grant date.

The Company has made certain separate awards in the form of units of limited partnership interests in its Operating Partnership called LTIP Units. The LTIP Units are subject to such conditions and restrictions as the compensation committee may determine, including continued employment or service, achievement of pre-established operational performance goals and market-indexed performance criteria. For the LTIP Units subject to market-indexed performance criteria (the “marked-indexed LTIP Units”), a Monte Carlo valuation model is used, taking into account the underlying contingency risks associated with the performance criteria. All other LTIP Units (the “operational LTIP Units”) are valued according to the market price of the Company’s common stock at the date of grant.

Awards of stock options, time-based restricted stock grants and operational LTIP Units are expensed as compensation on a straight-line basis over the requisite service period. Awards of performance-based restricted stock and market-indexed LTIP Units are expensed as compensation under the accelerated attribution method and are recognized in income regardless of the results of the performance criteria.

Derivatives

The Company records all derivatives on the balance sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged forecasted transactions in a cash flow hedge. When the Company terminates a derivative for which cash flow hedging was being

applied, the balance, which was recorded in Other comprehensive income, is amortized to interest expense over the remaining contractual term of the derivative as long as the hedged forecasted transactions continue to be probable of occurring. The Company includes cash payments made to terminate interest rate derivatives as an operating activity on the statement of cash flows, given the nature of the underlying cash flows that the derivative was hedging.

Segment Reporting

The Company’s primary business is the ownership, management, and redevelopment of retail real estate properties. The Company reviews operating and financial information for each property on an individual basis and therefore, each property represents an individual operating segment. The Company evaluates financial performance using property operating income, defined as operating revenues (base rent and recoveries from tenants), less property and related expenses (property operating expenses and property taxes). The Company has aggregated the properties into one reportable segment as the properties share similar long-term economic characteristics and have other similarities including the fact that they are operated using consistent business strategies, are typically located in major metropolitan areas, and have similar tenant mixes.

Reclassifications

Certain reclassifications have been made to the prior period consolidated financial statements and notes to conform to the current year presentation. In connection with the adoption of ASU No. 2016-2 and the Company’s practical expedient election to have a combined single lease component presentation, the Company combined Base rents and Recoveries from tenants into a single line item, Rental revenues, in its consolidated statements of operations and comprehensive income.

Real Estate Investments	6 Months Ended
Real Estate Investments	Jun. 30, 2019
Real Estate [Abstract]
Real Estate Investments	Real Estate Investments The following real estate investment transactions have occurred during the six months ended June 30, 2019. Property Dispositions On February 15, 2019, the Company sold Vancouver Market Center, a non-core shopping center located in Vancouver, Washington. The sales price of $17.0 million, less costs to sell, resulted in net proceeds of approximately $16.0 million. The Company recorded a gain on sale of real estate of approximately $2.6 million during the six months ended June 30, 2019 related to this property disposition. On May 1, 2019, the Company sold Norwood Shopping Center, a non-core shopping center located in Sacramento, California for a sales price of $13.5 million. In connection with the sale of this property, the Company entered into a $13.3 million mortgage note with the buyer. The mortgage note is a four year interest only note whereby the interest rate increases 1% annually from 3% to 6%. The Company recorded a gain on sale of real estate of approximately $180,000 during the three and six months ended June 30, 2019 related to this property disposition.

Tenant Leases

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Tenant Leases

Space in the Company’s shopping centers is leased to various tenants under operating leases that usually grant tenants renewal options and generally provide for additional rents based on certain operating expenses as well as tenants’ sales volume.

Future minimum rents to be received under non-cancellable leases as of June 30, 2019 are summarized as follows (in thousands):



	Minimum Rents
Remaining 2019	$	101,075
2020	191,841
2021	171,702
2022	146,176
2023	117,442
Thereafter	460,488
Total minimum lease payments	$	1,188,724

Mortgage Notes Payable, Credit Facilities and Senior Notes

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Mortgage Notes Payable, Credit Facilities and Senior Notes

ROIC does not hold any indebtedness. All debt is held directly or indirectly by the Operating Partnership; however, ROIC has guaranteed the Operating Partnership’s term loan, unsecured revolving credit facility, carve-out guarantees on property-level debt, and the Senior Notes. Costs incurred in obtaining long-term financing are amortized ratably over the related debt agreement. The amortization of deferred financing costs is included in Interest expense and other finance expenses in the consolidated statements of operations and comprehensive income.

Mortgage Notes Payable

The mortgage notes payable collateralized by respective properties and assignment of leases at June 30, 2019 and December 31, 2018, respectively, were as follows (in thousands):



Property	Maturity Date	Interest Rate		June 30, 2019			December 31, 2018
Casitas Plaza Shopping Center	June 2022	5.320	%	$	7,081		$	7,158
Riverstone Marketplace	July 2022	4.960	%	17,854			18,050
Fullerton Crossroads	April 2024	4.728	%	26,000			26,000
Diamond Hills Plaza	October 2025	3.550	%	35,500			35,500
				$	86,435		$	86,708
Mortgage premiums				1,834			2,074
Net unamortized deferred financing costs				(250		)	(271		)
Total mortgage notes payable				$	88,019		$	88,511

Term Loan and Credit Facility

The carrying values of the Company’s term loan (the “term loan”) were as follows (in thousands):



	June 30, 2019			December 31, 2018
Term loan	$	300,000		$	300,000
Net unamortized deferred financing costs	(799		)	(924		)
Term loan	$	299,201		$	299,076

On September 29, 2015, the Company entered into an unsecured term loan agreement under which the lenders agreed to provide a $300.0 million unsecured term loan facility. Effective September 8, 2017, the Company entered into a First Amended and Restated Term Loan Agreement (the “Term Loan Agreement”) pursuant to which the maturity date of the term loan was extended from January 31, 2019 to September 8, 2022, without further options for extension. The Term Loan Agreement also provides that the Company may from time to time request increased aggregate commitments of $200.0 million under certain conditions set forth in the Term Loan Agreement, including the consent of the lenders for the additional commitments. Borrowings under the Term Loan Agreement accrue interest on the outstanding principal amount at a rate equal to an applicable rate based on the credit rating level of the Company, plus, as applicable, (i) a LIBOR rate determined by reference to the cost of funds for U.S. dollar deposits for the relevant period (the “Eurodollar Rate”), or (ii) a base rate determined by reference to the highest of (a) the federal funds rate plus 0.50%, (b) the rate of interest announced by KeyBank National Association as its “prime rate,” and (c) the Eurodollar Rate plus 1.10%.

The carrying values of the Company’s unsecured revolving credit facility were as follows (in thousands):



	June 30, 2019			December 31, 2018
Credit facility	$	151,000		$	156,000
Net unamortized deferred financing costs	(1,880		)	(2,311		)
Credit facility	$	149,120		$	153,689

The Operating Partnership has an unsecured revolving credit facility with several banks. Effective September 8, 2017, the Company entered into a Second Amended and Restated Credit Agreement (the “Credit Facility Agreement”) pursuant to which the borrowing capacity under the credit facility was increased from $500.0 million to $600.0 million. The maturity date of the credit facility was extended from January 31, 2019 to September 8, 2021, with two six-month extension options, which may be exercised by the Operating Partnership upon satisfaction of certain conditions including the payment of extension fees. Additionally, the credit facility contains an accordion feature, which allows the Operating Partnership to increase the borrowing capacity under the credit facility up to an aggregate of $1.2 billion, subject to lender consents and other conditions. Borrowings under the credit facility accrue interest on the outstanding principal amount at a rate equal to an applicable rate based on the credit rating level of the Company, plus, as applicable, (i) the Eurodollar Rate, or (ii) a base rate determined by reference to the highest of (a) the federal funds rate plus 0.50%, (b) the rate of interest announced by KeyBank National Association as its “prime rate,” and (c) the Eurodollar Rate plus 1.00%. Additionally, the Operating Partnership is obligated to pay a facility fee at a rate based on the credit rating level of the Company, currently 0.20%, and a fronting fee at a rate of 0.125% per year with respect to each letter of credit issued under the credit facility. The Company has investment grade credit ratings from Moody’s Investors Service (Baa2) and Standard & Poor’s Ratings Services (BBB-).

Both the term loan and credit facility contain customary representations, financial and other covenants. The Operating Partnership’s ability to borrow under the term loan and credit facility is subject to its compliance with financial covenants and other restrictions on an ongoing basis. The Operating Partnership was in compliance with such covenants at June 30, 2019.

As of June 30, 2019, $300.0 million and $151.0 million were outstanding under the term loan and credit facility, respectively. The weighted average interest rate on the term loan during both the three and six months ended June 30, 2019 was 3.6%. As discussed in Note 9 of the accompanying financial statements, the Company uses interest rate swaps to manage its interest rate risk and accordingly, the swapped interest rate on the term loan is 3.1%. The weighted average interest rate on the credit facility during both the three and six months ended June 30, 2019 was 3.5%. The Company had no available borrowings under the term loan at June 30, 2019. The Company had $449.0 million available to borrow under the credit facility at June 30, 2019.

Senior Notes Due 2027

The carrying value of the Company’s unsecured Senior Notes Due 2027 is as follows (in thousands):



	June 30, 2019			December 31, 2018
Principal amount	$	250,000		$	250,000
Net unamortized deferred financing costs	(1,061		)	(1,123		)
Senior Notes Due 2027	$	248,939		$	248,877

On November 10, 2017, the Operating Partnership entered into a Note Purchase Agreement which provided for the issuance of $250.0 million principal amount of 4.19% Senior Notes Due 2027 (the “Senior Notes Due 2027”) in a private placement effective December 15, 2017. The Senior Notes Due 2027 pay interest on June 15 and December 15 of each year, commencing on June 15, 2018, and mature on December 15, 2027, unless prepaid earlier by the Operating Partnership. The Operating Partnership’s performance of the obligations under the Note Purchase Agreement, including the payment of any outstanding indebtedness thereunder, are guaranteed, jointly and severally, by ROIC. The net proceeds were used to reduce borrowings under the credit facility.

Senior Notes Due 2026

The carrying value of the Company’s unsecured Senior Notes Due 2026 is as follows (in thousands):



	June 30, 2019			December 31, 2018
Principal amount	$	200,000		$	200,000
Net unamortized deferred financing costs	(205		)	(219		)
Senior Notes Due 2026	$	199,795		$	199,781

On July 26, 2016, the Operating Partnership entered into a Note Purchase Agreement, as amended, which provided for the issuance of $200.0 million principal amount of 3.95% Senior Notes Due 2026 (the “Senior Notes Due 2026”) in a private placement effective September 22, 2016. The Senior Notes Due 2026 pay interest on March 22 and September 22 of each year, commencing on March

22, 2017, and mature on September 22, 2026, unless prepaid earlier by the Operating Partnership. The Operating Partnership’s performance of the obligations under the Note Purchase Agreement, including the payment of any outstanding indebtedness thereunder, are guaranteed, jointly and severally, by ROIC.

Senior Notes Due 2024

The carrying value of the Company’s unsecured Senior Notes Due 2024 is as follows (in thousands):



	June 30, 2019			December 31, 2018
Principal amount	$	250,000		$	250,000
Unamortized debt discount	(2,084		)	(2,252		)
Net unamortized deferred financing costs	(1,204		)	(1,314		)
Senior Notes Due 2024	$	246,712		$	246,434

On December 3, 2014, the Operating Partnership completed a registered underwritten public offering of $250.0 million aggregate principal amount of 4.000% Senior Notes due 2024 (the “Senior Notes Due 2024”), fully and unconditionally guaranteed by ROIC. The Senior Notes Due 2024 pay interest semi-annually on June 15 and December 15, commencing on June 15, 2015, and mature on December 15, 2024, unless redeemed earlier by the Operating Partnership. The Senior Notes Due 2024 are the Operating Partnership’s senior unsecured obligations that rank equally in right of payment with the Operating Partnership’s other unsecured indebtedness, and effectively junior to (i) all of the indebtedness and other liabilities, whether secured or unsecured, and any preferred equity of the Operating Partnership’s subsidiaries, and (ii) all of the Operating Partnership’s indebtedness that is secured by its assets, to the extent of the value of the collateral securing such indebtedness outstanding. ROIC fully and unconditionally guaranteed the Operating Partnership’s obligations under the Senior Notes Due 2024 on a senior unsecured basis, including the due and punctual payment of principal of, and premium, if any, and interest on, the notes, whether at stated maturity, upon acceleration, notice of redemption or otherwise. The guarantee is a senior unsecured obligation of ROIC and ranks equally in right of payment with all other senior unsecured indebtedness of ROIC. ROIC’s guarantee of the Senior Notes Due 2024 is effectively subordinated in right of payment to all liabilities, whether secured or unsecured, and any preferred equity of its subsidiaries (including the Operating Partnership and any entity ROIC accounts for under the equity method of accounting).

Senior Notes Due 2023

The carrying value of the Company’s unsecured Senior Notes Due 2023 is as follows (in thousands):



	June 30, 2019			December 31, 2018
Principal amount	$	250,000		$	250,000
Unamortized debt discount	(2,129		)	(2,339		)
Net unamortized deferred financing costs	(1,172		)	(1,304		)
Senior Notes Due 2023	$	246,699		$	246,357

On December 9, 2013, the Operating Partnership completed a registered underwritten public offering of $250.0 million aggregate principal amount of 5.000% Senior Notes due 2023 (the “Senior Notes Due 2023”), fully and unconditionally guaranteed by ROIC. The Senior Notes Due 2023 pay interest semi-annually on June 15 and December 15, commencing on June 15, 2014, and mature on December 15, 2023, unless redeemed earlier by the Operating Partnership. The Senior Notes Due 2023 are the Operating Partnership’s senior unsecured obligations that rank equally in right of payment with the Operating Partnership’s other unsecured indebtedness, and effectively junior to (i) all of the indebtedness and other liabilities, whether secured or unsecured, and any preferred equity of the Operating Partnership’s subsidiaries, and (ii) all of the Operating Partnership’s indebtedness that is secured by its assets, to the extent of the value of the collateral securing such indebtedness outstanding. ROIC fully and unconditionally guaranteed the Operating Partnership’s obligations under the Senior Notes Due 2023 on a senior unsecured basis, including the due and punctual payment of principal of, and premium, if any, and interest on, the notes, whether at stated maturity, upon acceleration, notice of redemption or otherwise. The guarantee is a senior unsecured obligation of ROIC and will rank equally in right of payment with all other senior unsecured indebtedness of ROIC. ROIC’s guarantee of the Senior Notes Due 2023 is effectively subordinated in right of payment to all liabilities, whether secured or unsecured, and any preferred equity of its subsidiaries (including the Operating Partnership and any entity ROIC accounts for under the equity method of accounting).

Preferred Stock of ROIC	6 Months Ended
Preferred Stock of ROIC	Jun. 30, 2019
Equity [Abstract]
Preferred Stock of ROIC	Preferred Stock of ROIC ROIC is authorized to issue 50,000,000 shares of preferred stock with such designations, voting and other rights and preferences as may be determined from time to time by the board of directors. As of June 30, 2019 and December 31, 2018, there were no shares of preferred stock outstanding.

Common Stock of ROIC	6 Months Ended
Common Stock of ROIC	Jun. 30, 2019
Equity [Abstract]
Common Stock of ROIC	Common Stock of ROIC ATM On May 1, 2018, the Company entered into five separate Sales Agreements (the “Sales Agreements”) with each of Capital One Securities, Inc., Jefferies LLC, KeyBanc Capital Markets Inc., Raymond James & Associates, Inc., and Robert W. Baird & Co. Incorporated (each individually, an “Agent” and collectively, the “Agents”) pursuant to which ROIC may sell, from time to time, shares of ROIC’s common stock, par value $0.0001 per share, having an aggregate offering price of up to $250.0 million through the Agents either as agents or principals. During the six months ended June 30, 2019, ROIC did not sell any shares under the Sales Agreements. Since the Sales Agreements were entered into through June 30, 2019, ROIC has sold a total of 1,251,376 shares of common stock under the Sales Agreements, which resulted in gross proceeds of approximately $24.2 million and commissions of approximately $242,000 paid to the Agents. Stock Repurchase Program On July 31, 2013, the Company’s board of directors authorized a stock repurchase program to repurchase up to a maximum of $50.0 million of the Company’s common stock. During the six months ended June 30, 2019, the Company did not repurchase any shares of common stock under this program.

Stock Compensation for ROIC

6 Months Ended

Jun. 30, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Compensation for ROIC

ROIC follows the FASB guidance related to stock compensation which establishes financial accounting and reporting standards for stock-based employee compensation plans, including all arrangements by which employees receive shares of stock or other equity instruments of the employer, or the employer incurs liabilities to employees in amounts based on the price of the employer’s stock. The guidance also defines a fair value-based method of accounting for an employee stock option or similar equity instrument.

In 2009, the Company adopted the 2009 Equity Incentive Plan. The 2009 Equity Incentive Plan provided for grants of restricted common stock and stock option awards up to an aggregate of 7.5% of the issued and outstanding shares of ROIC’s common stock at the time of the award, subject to a ceiling of 4,000,000 shares. The Company’s 2018 Annual Meeting of Stockholders was held on April 25, 2018 at which the stockholders of the Company approved the Company’s Amended and Restated 2009 Equity Incentive Plan (the “Equity Incentive Plan”). The types of awards that may be granted under the Equity Incentive Plan include stock options, restricted shares, share appreciation rights, phantom shares, dividend equivalent rights and other equity-based awards. The Equity Incentive Plan has a fungible unit system that counts the number of shares of the Company’s common stock used in the issuance of full-value awards, such as restricted shares and LTIP Units, differently than the number of shares of common stock used in the issuance of stock options. A total of 22,500,000 Fungible Units (as defined in the Equity Incentive Plan) are reserved for grant under the Equity Incentive Plan and the Fungible Unit-to-full-value award conversion ratio is 6.25 to 1.0. The Equity Incentive Plan will expire on April 25, 2028. Any available shares that had not been granted under the 2009 Equity Incentive Plan were rolled over and made available for issuance under the Equity Incentive Plan.

The Company has made certain awards in the form of a separate series of units of limited partnership interests in its Operating Partnership called LTIP Units, which can be granted either as free-standing awards or in tandem with other awards under the Equity Incentive Plan. The LTIP Units are subject to such conditions and restrictions as the compensation committee may determine, including continued employment or service, achievement of pre-established operational performance goals and market-indexed performance criteria. Upon the occurrence of specified events and subject to the satisfaction of applicable vesting conditions, LTIP Units (after conversion into OP Units, in accordance with the Partnership Agreement) are ultimately redeemable for cash or for unregistered shares of ROIC common stock, at the option of ROIC, on a one-for-one basis.

Restricted Stock

During the six months ended June 30, 2019, ROIC awarded 354,161 shares of time-based restricted common stock under the Equity Incentive Plan.

A summary of the status of ROIC’s non-vested restricted stock awards as of June 30, 2019, and changes during the six months ended June 30, 2019 are presented below:



	Shares		Weighted Average Grant Date Fair Value
Non-vested at December 31, 2018	1,002,835		$	16.88
Granted	354,161		$	17.20
Vested	(364,913	)	$	19.06
Forfeited	(35,287	)	$	12.67
Non-vested at June 30, 2019	956,796		$	16.55

LTIP Units

During the six months ended June 30, 2019, ROIC awarded 187,279 LTIP Units under the Equity Incentive Plan. The LTIP Units vest based on both pre-defined operational and market-indexed performance criteria with a vesting date on January 1, 2022. The LTIP Units were issued at a weighted average grant date fair value of $16.27.

For the three months ended June 30, 2019 and 2018, the amounts charged to expenses for all stock-based compensation arrangements totaled approximately $2.2 million and $2.0 million, respectively. For the six months ended June 30, 2019 and 2018, the amounts charged to expenses for all stock-based compensation arrangements totaled approximately $3.9 million and $3.4 million, respectively.

Capital of the Operating Partnership	6 Months Ended
Capital of the Operating Partnership	Jun. 30, 2019
Equity [Abstract]
Capital of the Operating Partnership	Capital of the Operating Partnership As of June 30, 2019, the Operating Partnership had 125,714,830 OP Units outstanding. ROIC owned an approximate 90.9% partnership interest in the Operating Partnership at June 30, 2019, or 114,307,789 OP Units. The remaining 11,407,041 OP Units are owned by other limited partners. A share of ROIC’s common stock and an OP unit have essentially the same economic characteristics as they share equally in the total net income or loss and distributions of the Operating Partnership. As of June 30, 2019, subject to certain exceptions, holders are able to redeem their OP Units, at the option of ROIC, for cash or for unregistered shares of ROIC common stock on a one-for-one basis. If cash is paid in the redemption, the redemption price is equal to the average closing price on the NASDAQ Stock Market for shares of ROIC’s common stock over the ten consecutive trading days immediately preceding the date a redemption notice is received by ROIC. During the six months ended June 30, 2019, ROIC received a notice of redemption for a total of 70,000 OP Units. ROIC elected to redeem the OP Units in cash, and accordingly, a total of approximately $1.2 million was paid during the six months ended June 30, 2019 to the holder of the respective OP Units. In accordance with the Second Amended and Restated Agreement of Limited Partnership of the Operating Partnership, the redemption value was calculated based on the average closing price of ROIC’s common stock on the NASDAQ Stock Market for the ten consecutive trading days immediately preceding the date of receipt of the notice of redemption. The redemption value of outstanding OP Units owned by the limited partners as of June 30, 2019, not including ROIC, had such units been redeemed at June 30, 2019, was approximately $196.5 million, calculated based on the average closing price of ROIC’s common stock on the NASDAQ Stock Market for the ten consecutive trading days immediately preceding June 30, 2019, which amounted to $17.23 per share. Retail Opportunity Investments GP, LLC, ROIC’s wholly-owned subsidiary, is the sole general partner of the Operating Partnership, and as the parent company, ROIC has the full and complete authority over the Operating Partnership’s day-to-day management and control. As the sole general partner of the Operating Partnership, ROIC effectively controls the ability to issue common stock of ROIC upon redemption of any OP Units. The redemption provisions that permit ROIC to settle the redemption of OP Units in either cash or common stock, in the sole discretion of ROIC, are further evaluated in accordance with applicable accounting guidance to determine whether temporary or permanent equity classification on the balance sheet is appropriate. The Company evaluated this guidance, including the ability, in its sole discretion, to settle in unregistered shares of common stock, and determined that the OP Units meet the requirements to qualify for presentation as permanent equity.

Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

The Company follows the FASB guidance that defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The guidance applies to reported balances that are required or permitted to be measured at fair value under existing accounting pronouncements; accordingly, the standard does not require any new fair value measurements of reported balances.

The guidance emphasizes that fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, the guidance establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy).

Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, which are typically based on an entity’s own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability.

The following disclosures of estimated fair value were determined by management, using available market information and appropriate valuation methodologies as discussed in Note 1. Considerable judgment is necessary to interpret market data and develop estimated fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts realizable upon disposition of the financial instruments. The use of different market assumptions or estimation methodologies may have a material effect on the estimated fair value amounts.

The carrying values of cash and cash equivalents, restricted cash, tenant and other receivables, deposits, prepaid expenses, other assets, accounts payable and accrued expenses are reasonable estimates of their fair values because of the short-term nature of these instruments. The carrying values of the term loan and credit facility are deemed to be at fair value since the outstanding debt is directly tied to monthly LIBOR contracts. The fair value of the outstanding Senior Notes Due 2027 and Senior Notes Due 2026 at June 30, 2019 was approximately $244.6 million and $193.3 million, respectively, calculated using significant inputs which are not observable in the market. The fair value of the outstanding Senior Notes Due 2024 and Senior Notes Due 2023 at June 30, 2019 was approximately $254.2 million and $265.9 million, respectively, based on inputs not quoted on active markets, but corroborated by market data, or Level 2. Assumed mortgage notes payable were recorded at their fair value at the time they were assumed. The Company’s outstanding mortgage notes payable were estimated to have a fair value of approximately $87.1 million with a weighted average interest rate of 4.0% as of June 30, 2019. These fair value measurements fall within level 3 of the fair value hierarchy.

Derivative and Hedging Activities

The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount.

The following is a summary of the terms of the Company’s interest rate swaps as of June 30, 2019 (in thousands):



Swap Counterparty	Notional Amount		Effective Date	Maturity Date
Bank of Montreal	$	100,000	12/29/2017	8/31/2022
U.S. Bank	$	100,000	12/29/2017	8/31/2022
Regions Bank	$	50,000	1/31/2019	8/31/2022
Royal Bank of Canada	$	50,000	1/31/2019	8/31/2022

The changes in the fair value of derivatives that are designated as cash flow hedges are recorded in accumulated other comprehensive income (“AOCI”) and will be subsequently reclassified into earnings during the period in which the hedged forecasted transaction affects earnings.

The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of the derivative. This analysis reflects the contractual terms of the derivative, including the period to maturity, and uses observable market-based inputs, including interest rate curves, and implied volatilities. The fair value of interest rate swaps is determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves.

The Company incorporated credit valuation adjustments to appropriately reflect both its own non-performance risk and the respective counterparties’ non-performance risk in the fair value measurements. In adjusting the fair value of its derivative contract for the effect of non-performance risk, the Company considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees.

Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by the Company and its counterparties. However, as of June 30, 2019, the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative position and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Company has determined that its derivative valuation in its entirety is classified in Level 2 of the fair value hierarchy.

The table below presents the Company’s assets and liabilities measured at fair value on a recurring basis, aggregated by the level in the fair value hierarchy within which those measurements fall (in thousands).



	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total
June 30, 2019:
Liabilities
Derivative financial instruments	$	—	$	(3,914	)	$	—	$	(3,914	)

December 31, 2018:
Assets
Derivative financial instruments	$	—	$	4,931		$	—	$	4,931
Liabilities
Derivative financial instruments	$	—	$	(580	)	$	—	$	(580	)

Amounts paid, or received, to cash settle interest rate derivatives prior to their maturity date are recorded in AOCI at the cash settlement amount, and will be reclassified to interest expense as interest expense is recognized on the hedged debt. During the next twelve months, the Company estimates that $816,000 will be reclassified as a non-cash increase to interest expense.

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the balance sheet as of June 30, 2019 and December 31, 2018, respectively (in thousands):



Derivatives designed as hedging instruments	Balance sheet location	June 30, 2019 Fair Value			December 31, 2018 Fair Value
Interest rate products	Other assets	$	—		$	4,931
Interest rate products	Other liabilities	$	(3,914	)	$	(580	)

Derivatives in Cash Flow Hedging Relationships

The table below details the location in the financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the three and six months ended June 30, 2019 and 2018, respectively (in thousands).



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Amount of (loss) gain recognized in OCI on derivatives	$	(4,815	)	$	1,397		$	(7,423	)	$	4,787
Amount of loss (gain) reclassified from AOCI into interest	$	263		$	(174	)	$	465		$	(592	)

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Commitments and Contingencies

6 Months Ended

Jun. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

In the normal course of business, from time to time, the Company is involved in legal actions relating to the ownership and operations of its properties. In management’s opinion, the liabilities, if any, that ultimately may result from such legal actions are not expected to have a material adverse effect on the consolidated financial position, results of operations or liquidity of the Company.

The Company has signed several ground leases in which the Company is the lessee for the land beneath all or a portion of the buildings for certain properties. In accordance with ASU 2016-02, the Company recorded a right-of-use asset and related lease liability for these ground leases as of January 1, 2019. As of June 30, 2019, the Company’s weighted average remaining lease term is approximately 37.9 years and the weighted average discount rate used to calculate the Company’s lease liability is approximately 5.2%. Rent expense under the Company’s ground leases was approximately $394,000 and $393,000 for the three months ended June 30, 2019 and 2018, respectively and approximately $806,000 and $771,000 for the six months ended June 30, 2019 and 2018, respectively.

The following table represents a reconciliation of the Company’s undiscounted future minimum lease payments under operating leases to the lease liability as of June 30, 2019 (in thousands):



	Operating Leases
Remaining 2019	$	641
2020	1,287
2021	1,282
2022	1,304
2023	1,330
Thereafter	33,939
Total undiscounted future minimum lease payments	39,783
Future minimum lease payments, discount	(21,932		)
Lease liability	$	17,851

Tax Protection Agreements

In connection with certain acquisitions from September 2013 through March 2017, the Company entered into Tax Protection Agreements with certain limited partners of the Operating Partnership. The Tax Protection Agreements require the Company, subject to certain exceptions, to indemnify the respective sellers receiving OP Units against certain tax liabilities incurred by them, as calculated pursuant to the respective Tax Protection Agreements, for a period of 12 years (with respect to Tax Protection Agreements entered into in September 2013) or 10 years (with respect to Tax Protection Agreements entered into from December 2014 through March 2017) from the date of the Tax Protection Agreements. If the Company were to trigger the tax protection provisions under these agreements, the Company would be required to pay damages in the amount of the taxes owed by these limited partners (plus additional damages in the amount of the taxes incurred as a result of such payment).

Legal Settlement

During the three months ended June 30, 2019, the Company reached an agreement through mediation for an ongoing lawsuit to settle for approximately $1.4 million and accordingly, recorded a $950,000 charge to Other expense in the consolidated statements of operations during the three and six months ended June 30, 2019.

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company has entered into several lease agreements with an officer of the Company, whereby pursuant to the lease agreements, the Company is provided the use of storage space. For the three months ended June 30, 2019 and 2018, the Company incurred approximately $21,000 and $19,000, respectively, of expenses relating to the agreements. For the six months ended June 30, 2019 and 2018, the Company incurred approximately $42,000 and $34,000, respectively, of expenses relating to the agreements. These expenses were included in General and administrative expenses in the accompanying consolidated statements of operations and comprehensive income.

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 24, 2019, ROIC’s board of directors declared a cash dividend on its common stock and a distribution on the Operating Partnership’s OP Units of $0.1970 per share and per OP Unit, payable on September 26, 2019 to holders of record on September 12, 2019.

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-2, “Leases.” ASU No. 2016-2 resulted in the recognition of a right-to-use asset and related liability to account for future obligations under ground lease agreements for which the Company is the lessee. In addition, this ASU requires that lessees and lessors capitalize, as initial direct costs, only those costs that are incurred due to the execution of a lease. Allocated payroll costs and other costs that are incurred regardless of whether the lease is obtained are no longer capitalized as initial direct costs and instead are expensed as incurred. Under ASU No. 2016-2, each lease agreement will be evaluated to identify the lease components and nonlease components at lease inception. The total consideration in the lease agreement will be allocated to the lease and nonlease components based on their relative standalone selling prices. Lessors will continue to recognize the lease revenue component using an approach that is substantially equivalent to existing guidance for operating leases (straight-line basis). In July 2018, the FASB issued an amendment to ASU No. 2016-2 that allows lessors to elect, as a practical expedient, not to allocate the total consideration to lease and nonlease components based on their relative standalone selling prices. This practical expedient allows lessors to elect a combined single lease component presentation if (i) the timing and pattern of the revenue recognition of the combined single lease component is the same, and (ii) the related lease component and, the combined single lease component would be classified as an operating lease. The amendment also provides a transition option that permits the application of the new guidance as of the adoption date rather than to all periods presented. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company adopted the provisions of ASU No. 2016-2 effective January 1, 2019 using the modified retrospective approach and accordingly, recognized a lease liability of approximately $18.0 million, which is included in Other liabilities on the accompanying balance sheet, and a related right-to-use asset of approximately $17.0 million, which is included in Other assets on the accompanying balance sheet, for all operating leases in which the Company is a lessee based on the present value of the minimum rental payments remaining as of the initial application date. The present value of the remaining lease payments was calculated for each operating lease using each respective remaining lease term and a corresponding estimated incremental borrowing rate, which is the interest rate that the Company estimates it would have to pay to borrow on a collateralized basis over a similar term. Based on its election of the package of practical expedients, the Company was not required to reassess whether any expired or existing contracts are or contain leases, reassess the lease classification for any expired or existing leases, or reassess initial direct costs for any existing leases. Accordingly, the Company’s ground lease agreements for which the Company is the lessee will continue to be accounted for as operating leases under the new standard. Further, the Company elected the practical expedient to account for both its lease and non-lease components as a combined single lease component and elected the optional transition method permitting January 1, 2019 to be its initial application date. Additionally, leasing payroll-related costs that are incurred regardless of whether leases are obtained are no longer capitalized as initial direct costs and instead are expensed as incurred. These costs amounted to approximately $277,000 and $611,000 during the three and six months ended June 30, 2018, respectively. Further, bad debt, which has previously been recorded in Property operating, has now been classified as a contra-revenue account in Rental revenue in the Company’s consolidated statements of operations and comprehensive income. In June 2016, the FASB issued ASU No. 2016-13 “Financial Instruments - Credit Topics.” ASU No. 2016-13 requires companies to adopt a new approach to estimating credit losses on certain types of financial instruments, such as trade and other receivables and loans. The standard requires entities to estimate a lifetime expected credit loss for most financial instruments, including trade receivables. ASU 2016-13 will be effective for the Company beginning on January 1, 2020, with early adoption permitted. The Company continues to evaluate the impact this pronouncement will have on the Company’s consolidated financial statements.
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements are prepared on the accrual basis in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for complete financial statement disclosures. In the opinion of management, the consolidated financial statements include all adjustments necessary, which are of a normal and recurring nature, for the fair presentation of the Company’s financial position and the results of operations and cash flows for the periods presented. Results of operations for the three and six month periods ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019. It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2018. The consolidated financial statements include the accounts of the Company and those of its subsidiaries, which are wholly-owned or controlled by the Company. Entities which the Company does not control through its voting interest and entities which are variable interest entities (“VIEs”), but where it is not the primary beneficiary, are accounted for under the equity method. All significant intercompany balances and transactions have been eliminated. The Company follows the FASB guidance for determining whether an entity is a VIE and requires the performance of a qualitative rather than a quantitative analysis to determine the primary beneficiary of a VIE. Under this guidance, an entity would be required to consolidate a VIE if it has (i) the power to direct the activities that most significantly impact the entity’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could be significant to the VIE. The Company has concluded that the Operating Partnership is a VIE, and because they have both the power and the rights to control the Operating Partnership, they are the primary beneficiary and are required to continue to consolidate the Operating Partnership. A non-controlling interest in a consolidated subsidiary is defined as the portion of the equity (net assets) in a subsidiary not attributable, directly or indirectly, to a parent. Non-controlling interests are required to be presented as a separate component of equity in the consolidated balance sheet and modify the presentation of net income by requiring earnings and other comprehensive income to be attributed to controlling and non-controlling interests.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the disclosure of contingent assets and liabilities, the reported amounts of assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the periods covered by the financial statements. The most significant assumptions and estimates relate to the purchase price allocations, depreciable lives, revenue recognition and the collectability of tenant receivables, other receivables, notes receivables, the valuation of performance-based restricted stock, LTIPs, and derivatives. Actual results could differ from these estimates.
Federal Income Taxes	Federal Income Taxes The Company has elected to qualify as a REIT under Sections 856-860 of the Internal Revenue Code (the “Code”). Under those sections, a REIT that, among other things, distributes at least 90% of its REIT taxable income (determined without regard to the dividends paid deduction and excluding net capital gains) and meets certain other qualifications prescribed by the Code, will not be taxed on that portion of its taxable income that is distributed. Although it may qualify as a REIT for U.S. federal income tax purposes, the Company is subject to state income or franchise taxes in certain states in which some of its properties are located. In addition, taxable income from non-REIT activities managed through the Company’s taxable REIT subsidiary (“TRS”), if any, is fully subject to U.S. federal, state and local income taxes. For all periods from inception through September 26, 2013 the Operating Partnership had been an entity disregarded from its sole owner, ROIC, for U.S. federal income tax purposes and as such had not been subject to U.S. federal income taxes. Effective September 27, 2013, the Operating Partnership issued OP Units in connection with the acquisitions of two shopping centers. Accordingly, the Operating Partnership ceased being a disregarded entity and instead is being treated as a partnership for U.S. federal income tax purposes. The Company follows the FASB guidance that defines a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The FASB also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. The Company records interest and penalties relating to unrecognized tax benefits, if any, as interest expense. As of June 30, 2019, the statute of limitations for the tax years 2015 through and including 2017 remain open for examination by the Internal Revenue Service (“IRS”) and state taxing authorities. ROIC intends to make regular quarterly distributions to holders of its common stock. U.S. federal income tax law generally requires that a REIT distribute annually at least 90% of its REIT taxable income, without regard to the deduction for dividends paid and excluding net capital gains, and that it pay U.S. federal income tax at regular corporate rates to the extent that it annually distributes less than 100% of its net taxable income. ROIC intends to pay regular quarterly dividends to stockholders in an amount not less than its net taxable income, if and to the extent authorized by its board of directors. Before ROIC pays any dividend, whether for U.S. federal income tax purposes or otherwise, it must first meet both its operating requirements and its debt service on debt. If ROIC’s cash available for distribution is less than its net taxable income, it could be required to sell assets or borrow funds to make cash distributions or it may make a portion of the required distribution in the form of a taxable stock distribution or distribution of debt securities.
Real Estate Investments	Real Estate Investments All costs related to the improvement or replacement of real estate properties are capitalized. Additions, renovations and improvements that enhance and/or extend the useful life of a property are also capitalized. Expenditures for ordinary maintenance, repairs and improvements that do not materially prolong the normal useful life of an asset are charged to operations as incurred. During the six months ended June 30, 2019 and 2018, capitalized costs related to the improvement or replacement of real estate properties were approximately $21.1 million and $20.6 million, respectively. The Company evaluates each acquisition of real estate to determine if the acquired property meets the definition of a business and needs to be accounted for as a business combination. Under ASU No. 2017-1, the Company first determines whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. If this threshold is met, the acquired property does not meet the definition of a business and is accounted for as an asset acquisition. The Company expects that acquisitions of real estate properties will not meet the revised definition of a business because substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets (i.e. land, buildings, and related intangible assets). The Company recognizes the acquisition of real estate properties, including acquired tangible assets (consisting of land, buildings and improvements), and acquired intangible assets and liabilities (consisting of above-market and below-market leases and acquired in-place leases) at their fair value (for acquisitions meeting the definition of a business) and relative fair value (for acquisitions not meeting the definition of a business). The relative fair values used to allocate the cost of an asset acquisition are determined using the same methodologies and assumptions the Company utilizes to determine fair value in a business combination. Acquired lease intangible assets include above-market leases and acquired in-place leases, and acquired lease intangible liabilities represent below-market leases, in the accompanying consolidated balance sheets. The fair value of the tangible assets of an acquired property is determined by valuing the property as if it were vacant, which value is then allocated to land, buildings and improvements based on management’s determination of the relative fair values of these assets. In valuing an acquired property’s intangibles, factors considered by management include an estimate of carrying costs during the expected lease-up periods, and estimates of lost rental revenue during the expected lease-up periods based on management’s evaluation of current market demand. Management also estimates costs to execute similar leases, including leasing commissions, tenant improvements, legal and other related costs. Leasing commissions, legal and other related costs (“lease origination costs”) are classified as deferred charges in the accompanying consolidated balance sheets. The value of in-place leases is measured by the excess of (i) the purchase price paid for a property after adjusting existing in-place leases to market rental rates, over (ii) the estimated fair value of the property as if vacant. Above-market and below-market lease values are recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between the contractual amounts to be received and management’s estimate of market lease rates, measured over the terms of the respective leases that management deemed appropriate at the time of acquisition. Such valuations include a consideration of the non-cancellable terms of the respective leases as well as any applicable renewal periods. The fair values associated with below-market rental renewal options are determined based on the Company’s experience and the relevant facts and circumstances that existed at the time of the acquisitions. The value of the above-market and below-market leases is amortized to base rental income, over the terms of the respective leases including option periods, if applicable. The value of in-place leases is amortized to expense over the remaining non-cancellable terms of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts relating to that lease would be recognized in operations at that time. The Company expenses transaction costs associated with business combinations and unsuccessful property asset acquisitions in the period incurred and capitalizes transaction costs associated with successful property asset acquisitions.Sales of real estate are recognized only when it is determined that the Company will collect substantially all of the consideration to which it is entitled, possession and other attributes of ownership have been transferred to the buyer and the Company has no significant continuing involvement. The application of these criteria can be complex and requires the Company to make assumptions.
Asset Impairment	Asset Impairment The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset to aggregate future net cash flows (undiscounted and without interest) expected to be generated by the asset. If such assets are considered impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceed the fair value.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents are maintained at financial institutions and, at times, balances may exceed the federally insured limit by the Federal Deposit Insurance Corporation.
Restricted Cash	Restricted Cash The terms of the Company’s mortgage loans payable may require the Company to deposit certain replacement and other reserves with its lenders. Such “restricted cash” is generally available only for property-level requirements for which the reserves have been established and is not available to fund other property-level or Company-level obligations.
Revenue Recognition	Revenue Recognition Management has determined that all of the Company’s leases with its various tenants are operating leases. Rental income is generally recognized based on the terms of leases entered into with tenants. In those instances in which the Company funds tenant improvements and the improvements are deemed to be owned by the Company, revenue recognition will commence when the improvements are substantially completed and possession or control of the space is turned over to the tenant. When the Company determines that the tenant allowances are lease incentives, the Company commences revenue recognition and lease incentive amortization when possession or control of the space is turned over to the tenant for tenant work to begin. Minimum rental income from leases with scheduled rent increases is recognized on a straight-line basis over the lease term. Prior to January 1, 2019, the Company considered property operating expense recoveries from tenants of common area maintenance, real estate taxes and other recoverable costs as lease components. Effective January 1, 2019, each lease agreement is evaluated to identify the lease and nonlease components at lease inception. The Company elected the single component practical expedient, which allows lessors to elect a combined single lease component presentation if (i) the timing and pattern of the revenue recognition of the combined single lease component is the same, and (ii) the related lease component and, the combined single lease component would be classified as an operating lease. As a result of this assessment, rental revenues and tenant recoveries from the lease of real estate assets are accounted for as a single component. Lease incentives are amortized as a reduction of rental revenue over the respective tenant lease terms. Termination fees (included in Other income in the consolidated statements of operations and comprehensive income) are fees that the Company has agreed to accept in consideration for permitting certain tenants to terminate their lease prior to the contractual expiration date. The Company recognizes termination fees when the following conditions are met: (a) the termination agreement is executed; (b) the termination fee is determinable; (c) all landlord services pursuant to the terminated lease have been rendered; and (d) collectability of the termination fee is assured. Interest income is recognized as it is earned. Gains or losses on disposition of properties are recorded when the criteria for recognizing such gains or losses have been met. The Company must make estimates as to the collectability of its accounts receivable related to base rent, straight-line rent, expense reimbursements and other revenues. Management analyzes accounts receivable by considering tenant creditworthiness, current economic trends, and changes in tenants’ payment patterns when evaluating the adequacy of the allowance for doubtful accounts receivable. The Company also provides an allowance for future credit losses of the deferred straight-line rents receivable.
Depreciation and Amortization	Depreciation and Amortization The Company uses the straight-line method for depreciation and amortization. Buildings are depreciated over the estimated useful lives which the Company estimates to be 39-40 years. Property improvements are depreciated over estimated useful lives that range from 10 to 20 years. Furniture and fixtures are depreciated over estimated useful lives that range from 3 to 10 years. Tenant improvements are amortized over the shorter of the life of the related leases or their useful life.
Deferred Leasing	Costs incurred in obtaining tenant leases (principally leasing commissions and acquired lease origination costs) are amortized ratably over the life of the tenant leases. The amortization of deferred leasing costs is included in Depreciation and amortization in the consolidated statements of operations and comprehensive income.
Concentration Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and tenant receivables. The Company places its cash and cash equivalents in excess of insured amounts with high quality financial institutions. The Company performs ongoing credit evaluations of its tenants and requires tenants to provide security deposits.
Earnings Per Share	Earnings Per Share Basic earnings per share (“EPS”) excludes the impact of dilutive shares and is computed by dividing net income by the weighted average number of shares of common stock outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue shares of common stock were exercised or converted into shares of common stock and then shared in the earnings of the Company. For the three and six months ended June 30, 2019 and 2018, basic EPS was determined by dividing net income allocable to common stockholders for the applicable period by the weighted average number of shares of common stock outstanding during such period. Net income during the applicable period is also allocated to the time-based unvested restricted stock as these grants are entitled to receive dividends and are therefore considered a participating security. Time-based unvested restricted stock is not allocated net losses and/or any excess of dividends declared over net income; such amounts are allocated entirely to the common stockholders other than the holders of time-based unvested restricted stock. The performance-based restricted stock awards outstanding under the Equity Incentive Plan described in Note 7 are excluded from the basic EPS calculation, as these units are not participating securities until they vest.
Share-Based Compensation	Stock-Based Compensation The Company has a stock-based employee compensation plan, which is more fully described in Note 7. The Company accounts for its stock-based compensation plan based on the FASB guidance which requires that compensation expense be recognized based on the fair value of the stock awards less forfeitures. Restricted stock grants vest based upon the completion of a service period (“time-based restricted stock grants”) and/or the Company meeting certain established market-indexed financial performance criteria (“performance-based restricted stock grants”). Time-based grants are valued according to the market price for the Company’s common stock at the date of grant. For performance-based restricted stock grants, a Monte Carlo valuation model is used, taking into account the underlying contingency risks associated with the performance criteria. It is the Company’s policy to grant options with an exercise price equal to the quoted closing market price of stock on the grant date. The Company has made certain separate awards in the form of units of limited partnership interests in its Operating Partnership called LTIP Units. The LTIP Units are subject to such conditions and restrictions as the compensation committee may determine, including continued employment or service, achievement of pre-established operational performance goals and market-indexed performance criteria. For the LTIP Units subject to market-indexed performance criteria (the “marked-indexed LTIP Units”), a Monte Carlo valuation model is used, taking into account the underlying contingency risks associated with the performance criteria. All other LTIP Units (the “operational LTIP Units”) are valued according to the market price of the Company’s common stock at the date of grant. Awards of stock options, time-based restricted stock grants and operational LTIP Units are expensed as compensation on a straight-line basis over the requisite service period. Awards of performance-based restricted stock and market-indexed LTIP Units are expensed as compensation under the accelerated attribution method and are recognized in income regardless of the results of the performance criteria.
Derivatives	Derivatives The Company records all derivatives on the balance sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged forecasted transactions in a cash flow hedge. When the Company terminates a derivative for which cash flow hedging was being applied, the balance, which was recorded in Other comprehensive income, is amortized to interest expense over the remaining contractual term of the derivative as long as the hedged forecasted transactions continue to be probable of occurring. The Company includes cash payments made to terminate interest rate derivatives as an operating activity on the statement of cash flows, given the nature of the underlying cash flows that the derivative was hedging.
Segment Reporting	Segment Reporting The Company’s primary business is the ownership, management, and redevelopment of retail real estate properties. The Company reviews operating and financial information for each property on an individual basis and therefore, each property represents an individual operating segment. The Company evaluates financial performance using property operating income, defined as operating revenues (base rent and recoveries from tenants), less property and related expenses (property operating expenses and property taxes). The Company has aggregated the properties into one reportable segment as the properties share similar long-term economic characteristics and have other similarities including the fact that they are operated using consistent business strategies, are typically located in major metropolitan areas, and have similar tenant mixes.

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the reconciliation between basic and diluted EPS for ROIC (in thousands, except share data):



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Numerator:
Net income	$	8,346		$	8,102		$	22,929		$	19,926
Less income attributable to non-controlling interests	(761		)	(763		)	(2,094		)	(1,885		)
Less earnings allocated to unvested shares	(113		)	(100		)	(227		)	(201		)
Net income available for common stockholders, basic	$	7,472		$	7,239		$	20,608		$	17,840
Numerator:
Net income	$	8,346		$	8,102		$	22,929		$	19,926
Less earnings allocated to unvested shares	(113		)	(100		)	(227		)	(201		)
Net income available for common stockholders, diluted	$	8,233		$	8,002		$	22,702		$	19,725
Denominator:
Denominator for basic EPS – weighted average common equivalent shares	113,680,670			112,165,453			113,680,670			112,164,205
OP units	11,407,041			11,672,244			11,426,378			11,675,599
Performance-based restricted stock awards and LTIP Units	273,996			257,821			255,574			227,811
Stock options	96,525			109,471			95,491			110,323
Denominator for diluted EPS – weighted average common equivalent shares	125,458,232			124,204,989			125,458,113			124,177,938

Earnings Per Unit

The following table sets forth the reconciliation between basic and diluted earnings per unit for the Operating Partnership (in thousands, except unit data):



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Numerator:
Net income	$	8,346		$	8,102		$	22,929		$	19,926
Less earnings allocated to unvested shares	(113		)	(100		)	(227		)	(201		)
Net income available to unitholders, basic and diluted	$	8,233		$	8,002		$	22,702		$	19,725
Denominator:
Denominator for basic earnings per unit – weighted average common equivalent units	125,087,711			123,837,697			125,107,048			123,839,804
Performance-based restricted stock awards and LTIP Units	273,996			257,821			255,574			227,811
Stock options	96,525			109,471			95,491			110,323
Denominator for diluted earnings per unit – weighted average common equivalent units	125,458,232			124,204,989			125,458,113			124,177,938

Tenant Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Future minimum rents to be received under non-cancellable leases

Future minimum rents to be received under non-cancellable leases as of June 30, 2019 are summarized as follows (in thousands):



	Minimum Rents
Remaining 2019	$	101,075
2020	191,841
2021	171,702
2022	146,176
2023	117,442
Thereafter	460,488
Total minimum lease payments	$	1,188,724

Mortgage Notes Payable, Credit Facilities and Senior Notes (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Debt

The mortgage notes payable collateralized by respective properties and assignment of leases at June 30, 2019 and December 31, 2018, respectively, were as follows (in thousands):



Property	Maturity Date	Interest Rate		June 30, 2019			December 31, 2018
Casitas Plaza Shopping Center	June 2022	5.320	%	$	7,081		$	7,158
Riverstone Marketplace	July 2022	4.960	%	17,854			18,050
Fullerton Crossroads	April 2024	4.728	%	26,000			26,000
Diamond Hills Plaza	October 2025	3.550	%	35,500			35,500
				$	86,435		$	86,708
Mortgage premiums				1,834			2,074
Net unamortized deferred financing costs				(250		)	(271		)
Total mortgage notes payable				$	88,019		$	88,511

Schedule of Long-term Debt Instruments

The carrying values of the Company’s unsecured revolving credit facility were as follows (in thousands):



	June 30, 2019			December 31, 2018
Credit facility	$	151,000		$	156,000
Net unamortized deferred financing costs	(1,880		)	(2,311		)
Credit facility	$	149,120		$	153,689

The carrying value of the Company’s unsecured Senior Notes Due 2027 is as follows (in thousands):



	June 30, 2019			December 31, 2018
Principal amount	$	250,000		$	250,000
Net unamortized deferred financing costs	(1,061		)	(1,123		)
Senior Notes Due 2027	$	248,939		$	248,877

The carrying values of the Company’s term loan (the “term loan”) were as follows (in thousands):



	June 30, 2019			December 31, 2018
Term loan	$	300,000		$	300,000
Net unamortized deferred financing costs	(799		)	(924		)
Term loan	$	299,201		$	299,076

The carrying value of the Company’s unsecured Senior Notes Due 2026 is as follows (in thousands):



	June 30, 2019			December 31, 2018
Principal amount	$	200,000		$	200,000
Net unamortized deferred financing costs	(205		)	(219		)
Senior Notes Due 2026	$	199,795		$	199,781

The carrying value of the Company’s unsecured Senior Notes Due 2024 is as follows (in thousands):



	June 30, 2019			December 31, 2018
Principal amount	$	250,000		$	250,000
Unamortized debt discount	(2,084		)	(2,252		)
Net unamortized deferred financing costs	(1,204		)	(1,314		)
Senior Notes Due 2024	$	246,712		$	246,434

The carrying value of the Company’s unsecured Senior Notes Due 2023 is as follows (in thousands):



	June 30, 2019			December 31, 2018
Principal amount	$	250,000		$	250,000
Unamortized debt discount	(2,129		)	(2,339		)
Net unamortized deferred financing costs	(1,172		)	(1,304		)
Senior Notes Due 2023	$	246,699		$	246,357

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Stock Compensation for ROIC (Tables)

6 Months Ended

Jun. 30, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Nonvested Restricted Stock Units Activity

A summary of the status of ROIC’s non-vested restricted stock awards as of June 30, 2019, and changes during the six months ended June 30, 2019 are presented below:



	Shares		Weighted Average Grant Date Fair Value
Non-vested at December 31, 2018	1,002,835		$	16.88
Granted	354,161		$	17.20
Vested	(364,913	)	$	19.06
Forfeited	(35,287	)	$	12.67
Non-vested at June 30, 2019	956,796		$	16.55

Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Schedule of summary of the terms of the Company’s interest rate swaps

The following is a summary of the terms of the Company’s interest rate swaps as of June 30, 2019 (in thousands):



Swap Counterparty	Notional Amount		Effective Date	Maturity Date
Bank of Montreal	$	100,000	12/29/2017	8/31/2022
U.S. Bank	$	100,000	12/29/2017	8/31/2022
Regions Bank	$	50,000	1/31/2019	8/31/2022
Royal Bank of Canada	$	50,000	1/31/2019	8/31/2022

Company’s assets and liabilities measured at fair value on a recurring basis



	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total
June 30, 2019:
Liabilities
Derivative financial instruments	$	—	$	(3,914	)	$	—	$	(3,914	)

December 31, 2018:
Assets
Derivative financial instruments	$	—	$	4,931		$	—	$	4,931
Liabilities
Derivative financial instruments	$	—	$	(580	)	$	—	$	(580	)

Schedule of Company’s derivative financial instruments as well as their classification on the balance sheet



Derivatives designed as hedging instruments	Balance sheet location	June 30, 2019 Fair Value			December 31, 2018 Fair Value
Interest rate products	Other assets	$	—		$	4,931
Interest rate products	Other liabilities	$	(3,914	)	$	(580	)

Details the location in the financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Amount of (loss) gain recognized in OCI on derivatives	$	(4,815	)	$	1,397		$	(7,423	)	$	4,787
Amount of loss (gain) reclassified from AOCI into interest	$	263		$	(174	)	$	465		$	(592	)

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959

+ Details

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases

The following table represents a reconciliation of the Company’s undiscounted future minimum lease payments under operating leases to the lease liability as of June 30, 2019 (in thousands):



	Operating Leases
Remaining 2019	$	641
2020	1,287
2021	1,282
2022	1,304
2023	1,330
Thereafter	33,939
Total undiscounted future minimum lease payments	39,783
Future minimum lease payments, discount	(21,932		)
Lease liability	$	17,851

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) segment	Jun. 30, 2018 USD ($)	Jan. 01, 2019 USD ($)	Dec. 31, 2018 USD ($)
Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details) [Line Items]
Operating lease, liability	$ 17,851		$ 17,851
Payroll related costs capitalized		$ 277		$ 611
Taxable income minimum distribution portion not subject to federal taxation (in percentage)	90.00%		90.00%
Real estate improvements			$ 21,100	20,600
Acquisition costs	$ 0	$ 0	0	$ 0
Allowance for doubtful accounts receivable	$ 7,800		$ 7,800			$ 6,900
Number of segments \| segment			1
Accounting Standards Update 2016-02
Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details) [Line Items]
Operating lease, liability					$ 18,000
Operating lease, right-of-use asset					$ 17,000
Minimum \| Building
Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details) [Line Items]
PPE useful life (in years)			39 years
Minimum \| Building Improvements
Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details) [Line Items]
PPE useful life (in years)			10 years
Minimum \| Furniture and Fixtures
Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details) [Line Items]
PPE useful life (in years)			3 years
Maximum \| Building
Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details) [Line Items]
PPE useful life (in years)			40 years
Maximum \| Building Improvements
Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details) [Line Items]
PPE useful life (in years)			20 years
Maximum \| Furniture and Fixtures
Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details) [Line Items]
PPE useful life (in years)			10 years

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Reconciliation Between Basic and Diluted EPS) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Numerator:
Net income	$ 8,346		$ 8,102		$ 22,929	$ 19,926
Less income attributable to non-controlling interests	(761)	$ (1,333)	(763)	$ (1,122)	(2,094)	(1,885)
Less earnings allocated to unvested shares	(113)		(100)		(227)	(201)
Net income available for common stockholders, basic	7,472		7,239		20,608	17,840
Less earnings allocated to unvested shares	(113)		(100)		(227)	(201)
Net income available for common stockholders, diluted	$ 8,233		$ 8,002		$ 22,702	$ 19,725
Denominator:
Denominator for basic EPS – weighted average common equivalent shares (in shares)	113,680,670		112,165,453		113,680,670	112,164,205
Denominator for diluted EPS – weighted average common equivalent shares (in shares)	125,458,232		124,204,989		125,458,113	124,177,938
Retail Opportunity Investments Partnership L.P.
Numerator:
Net income	$ 8,346	$ 14,583	$ 8,102	$ 11,824	$ 22,929	$ 19,926
Less earnings allocated to unvested shares	(113)		(100)		(227)	(201)
Net income available to unitholders, basic and diluted	$ 8,233		$ 8,002		$ 22,702	$ 19,725
Denominator:
Denominator for basic EPS – weighted average common equivalent shares (in shares)	125,087,711		123,837,697		125,107,048	123,839,804
Denominator for diluted EPS – weighted average common equivalent shares (in shares)	125,458,232		124,204,989		125,458,113	124,177,938
OP units
Denominator:
OP units (in shares)	11,407,041		11,672,244		11,426,378	11,675,599
Performance-based restricted stock awards and LTIP Units
Denominator:
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	273,996		257,821		255,574	227,811
Performance-based restricted stock awards and LTIP Units \| Retail Opportunity Investments Partnership L.P.
Denominator:
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	273,996		257,821		255,574	227,811
Stock options
Denominator:
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	96,525		109,471		95,491	110,323
Stock options \| Retail Opportunity Investments Partnership L.P.
Denominator:
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	96,525		109,471		95,491	110,323

Real Estate Investments (Details Textual) - USD ($) $ in Thousands			3 Months Ended		6 Months Ended
	May 01, 2019	Feb. 15, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Real Estate Properties [Line Items]
Proceeds from sale of real estate					$ 16,305	$ 0
Gain on sale of real estate			$ 180	$ 0	2,818	$ 0
Mortgage note receivable			$ 13,250		$ 13,250		$ 0
Vancouver Market Center \| Vancouver, Washington
Real Estate Properties [Line Items]
Sales price of property sold		$ 17,000
Proceeds from sale of real estate		16,000
Gain on sale of real estate		$ 2,600
Norwood Shopping Center
Real Estate Properties [Line Items]
Mortgage note receivable	$ 13,300
Mortgage notes receivable, interest rate, increase (decrease)	1.00%
Mortgage notes receivable, term	4 years
Norwood Shopping Center \| Sacramento
Real Estate Properties [Line Items]
Sales price of property sold	$ 13,500
Gain on sale of real estate	$ 180
Minimum \| Norwood Shopping Center
Real Estate Properties [Line Items]
Mortgage notes receivable, interest rate, stated percentage	3.00%
Maximum \| Norwood Shopping Center
Real Estate Properties [Line Items]
Mortgage notes receivable, interest rate, stated percentage	6.00%

Tenant Leases Minimum Future Rentals to be Received under Non-cancellable Leases (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Leases [Abstract]
Remaining 2019	$ 101,075
2020	191,841
2021	171,702
2022	146,176
2023	117,442
Thereafter	460,488
Total minimum lease payments	$ 1,188,724

Mortgage Notes Payable, Credit Facilities and Senior Notes (Details Textual)		3 Months Ended	6 Months Ended
	Sep. 08, 2017 USD ($) credit_facility_extension	Jun. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Dec. 31, 2018 USD ($)	Nov. 10, 2017 USD ($)	Jun. 30, 2017 USD ($)	Jul. 26, 2016 USD ($)	Sep. 29, 2015 USD ($)	Dec. 03, 2014 USD ($)	Dec. 09, 2013 USD ($)
Term Loan Agreement
Debt Instrument [Line Items]
Debt instrument, face amount		$ 300,000,000	$ 300,000,000	$ 300,000,000				$ 300,000,000.0
Additional borrowing capacity								$ 200,000,000.0
Long term debt		$ 300,000,000.0	$ 300,000,000.0
Interest rate during period (percentage)		3.60%	3.60%
Debt Instrument, Swapped Interest Rate			3.10%
Remaining borrowing capacity		$ 0	$ 0
Senior Notes Due 2027 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount		250,000,000	250,000,000	250,000,000	$ 250,000,000.0
Interest rate (percentage)					4.19%
Senior Notes Due 2026 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount		200,000,000	200,000,000	200,000,000			$ 200,000,000.0
Interest rate (percentage)							3.95%
Senior Notes Due 2024 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount		250,000,000	250,000,000	250,000,000					$ 250,000,000.0
Interest rate (percentage)									4.00%
Senior Notes Due 2023 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount		$ 250,000,000	$ 250,000,000	250,000,000						$ 250,000,000.0
Interest rate (percentage)										5.00%
Federal Funds Effective Swap Rate \| Term Loan Agreement
Debt Instrument [Line Items]
Variable rate (percentage)			0.50%
Eurodollar \| Term Loan Agreement
Debt Instrument [Line Items]
Variable rate (percentage)			1.10%
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 600,000,000.0					$ 500,000,000.0
Credit facility, number of extension options \| credit_facility_extension	2
Debt instrument, extension, term	6 months
Commitment fee (percentage)			0.20%
Fronting fee (percentage)		0.125%	0.125%
Long-term, line of credit		$ 151,000,000	$ 151,000,000	$ 156,000,000
Line of credit facility, interest rate during the period (percentage)		3.50%	3.50%
Remaining borrowing capacity		$ 449,000,000.0	$ 449,000,000.0
Revolving Credit Facility \| Federal Funds Effective Swap Rate
Debt Instrument [Line Items]
Variable rate (percentage)			0.50%
Revolving Credit Facility \| Eurodollar
Debt Instrument [Line Items]
Variable rate (percentage)			1.00%
Revolving Credit Facility \| Accordion Feature
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 1,200,000,000	$ 1,200,000,000

Mortgage Notes Payable, Credit Facilities and Senior Notes (Mortgage Notes based on their respective Properties) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total mortgage notes payable	$ 88,019	$ 88,511
Notes Payable
Debt Instrument [Line Items]
Long term debt	86,435	86,708
Mortgage premiums	1,834	2,074
Net unamortized deferred financing costs	(250)	(271)
Total mortgage notes payable	$ 88,019	88,511
Notes Payable \| Casitas Plaza Shopping Center
Debt Instrument [Line Items]
Interest rate (percentage)	5.32%
Long term debt	$ 7,081	7,158
Notes Payable \| Riverstone Marketplace
Debt Instrument [Line Items]
Interest rate (percentage)	4.96%
Long term debt	$ 17,854	18,050
Notes Payable \| Fullerton Crossroads
Debt Instrument [Line Items]
Interest rate (percentage)	4.728%
Long term debt	$ 26,000	26,000
Notes Payable \| Diamond Hills Plaza
Debt Instrument [Line Items]
Interest rate (percentage)	3.55%
Long term debt	$ 35,500	$ 35,500

Mortgage Notes Payable, Credit Facilities and Senior Notes (Carrying Value of Debt) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Nov. 10, 2017	Jul. 26, 2016	Sep. 29, 2015	Dec. 03, 2014	Dec. 09, 2013
Debt Instrument [Line Items]
Credit facility	$ 149,120,000	$ 153,689,000
Senior Notes	942,145,000	941,449,000
Term Loan Agreement
Debt Instrument [Line Items]
Principal amount	300,000,000	300,000,000			$ 300,000,000.0
Net unamortized deferred financing costs	(799,000)	(924,000)
Term loan	299,201,000	299,076,000
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility	151,000,000	156,000,000
Net unamortized deferred financing costs	(1,880,000)	(2,311,000)
Credit facility	149,120,000	153,689,000
Senior Notes \| Senior Notes Due 2027
Debt Instrument [Line Items]
Principal amount	250,000,000	250,000,000	$ 250,000,000.0
Net unamortized deferred financing costs	(1,061,000)	(1,123,000)
Senior Notes	248,939,000	248,877,000
Senior Notes \| Senior Notes Due 2026
Debt Instrument [Line Items]
Principal amount	200,000,000	200,000,000		$ 200,000,000.0
Net unamortized deferred financing costs	(205,000)	(219,000)
Senior Notes	199,795,000	199,781,000
Senior Notes \| Senior Notes Due 2024
Debt Instrument [Line Items]
Principal amount	250,000,000	250,000,000				$ 250,000,000.0
Unamortized debt discount	(2,084,000)	(2,252,000)
Net unamortized deferred financing costs	(1,204,000)	(1,314,000)
Senior Notes	246,712,000	246,434,000
Senior Notes \| Senior Notes Due 2023
Debt Instrument [Line Items]
Principal amount	250,000,000	250,000,000					$ 250,000,000.0
Unamortized debt discount	(2,129,000)	(2,339,000)
Net unamortized deferred financing costs	(1,172,000)	(1,304,000)
Senior Notes	$ 246,699,000	$ 246,357,000

Preferred Stock of ROIC (Details Textual) - shares	Jun. 30, 2019	Dec. 31, 2018
Equity [Abstract]
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares outstanding (in shares)	0	0

Common Stock of ROIC (Details Textual)		6 Months Ended		14 Months Ended
Common Stock of ROIC (Details Textual)	May 01, 2018 USD ($) agreement $ / shares	Jun. 30, 2019 USD ($) $ / shares shares	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) $ / shares shares	Dec. 31, 2018 $ / shares	Jul. 31, 2013 USD ($)
Class of Stock [Line Items]
Common stock, par value (in dollars per share) \| $ / shares		$ 0.0001		$ 0.0001	$ 0.0001
Proceeds from the sale of common stock		$ 0	$ 1,508,000
Registration expenditures		$ 65,000	$ 118,000
Stock repurchase program, authorized amount						$ 50,000,000.0
Sales Agreement
Class of Stock [Line Items]
Number of sales agreements entered into \| agreement	5
Common stock, par value (in dollars per share) \| $ / shares	$ 0.0001
Common shares that may be sold under a sales agreement, aggregate offering price, maximum	$ 250,000,000.0
Shares sold during the period (shares) \| shares		0		1,251,376
Proceeds from the sale of common stock				$ 24,200,000
Registration expenditures				$ 242,000

Stock Compensation for ROIC (Details Textual) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) $ / shares shares	Jun. 30, 2018 USD ($)	Dec. 31, 2009 shares	Apr. 25, 2018 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense \| $	$ 2.2	$ 2.0	$ 3.9	$ 3.4
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)			354,161
Granted (in dollars per share) \| $ / shares			$ 17.20
LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share) \| $ / shares			$ 16.27
2009 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of outstanding stock maximum (in percentage)					7.50%
Maximum number of shares (in Shares)					4,000,000
Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)						22,500,000
Fungible unit to full value award conversion ratio						6.25
Vesting on January 1, 2022 \| LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)			187,279

Stock Compensation for ROIC (Status of Non-vested Restricted Stock Awards) (Details) - Restricted Stock	6 Months Ended
	Jun. 30, 2019 $ / shares shares
Shares
Beginning balance (shares) \| shares	1,002,835
Granted (shares) \| shares	354,161
Vested (shares) \| shares	(364,913)
Forfeited (shares) \| shares	(35,287)
Ending balance (shares) \| shares	956,796
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) \| $ / shares	$ 16.88
Granted (in dollars per share) \| $ / shares	17.20
Vested (in dollars per share) \| $ / shares	19.06
Forfeited (in dollars per share) \| $ / shares	12.67
Ending balance (in dollars per share) \| $ / shares	$ 16.55

Capital of the Operating Partnership (Details Textual) - USD ($)
$ / shares in Units, $ in Millions

6 Months Ended

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Limited Partners' Capital Account [Line Items]

Partnership units (in shares)

125,714,830

ROIC ownership percentage in ROIP LP

90.90%

Common stock, shares outstanding (in shares)

114,307,789

113,992,837

Equity redemption of OP Units, cash (in shares)

70,000

Equity redemption of OP Units cash dollars

$ 1.2

Common Stock

Limited Partners' Capital Account [Line Items]

Common stock, shares outstanding (in shares)

114,307,789

114,311,788

113,992,837

112,719,459

112,721,459

112,347,451

OP Units

Limited Partners' Capital Account [Line Items]

Non-controlling interest redemption value

$ 196.5

Redemption value (usd per share)

$ 17.23

Limited Partner’s Capital | Retail Opportunity Investments Partnership L.P.

Limited Partners' Capital Account [Line Items]

Partnership units (in shares)

^[1]

11,407,041

11,477,041

11,648,102

11,678,991

[1]	Consists of limited partnership interests held by third parties.

Fair Value of Financial Instruments (Details Textual) $ in Thousands	6 Months Ended
	Jun. 30, 2019 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate cash flow hedge reclassified as non-cash increase to interest expense in the next 12 months	$ 816
Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	4.00%
Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of note payable	$ 87,100
Senior Notes \| Significant Unobservable Inputs (Level 3) \| Senior Notes Due 2027
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long term debt	244,600
Senior Notes \| Significant Unobservable Inputs (Level 3) \| Senior Notes Due 2026
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long term debt	193,300
Senior Notes \| Significant Other Observable Inputs (Level 2) \| Senior Notes Due 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long term debt	254,200
Senior Notes \| Significant Other Observable Inputs (Level 2) \| Senior Notes Due 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long term debt	$ 265,900

Fair Value of Financial Instruments (Interest Rate Swaps) (Details) - Derivatives designed as hedging instruments - Interest Rate Swap Maturing 8/31/2022 $ in Thousands	Jun. 30, 2019 USD ($)
Bank of Montreal
Derivatives, Fair Value [Line Items]
Notional Amount	$ 100,000
U.S. Bank
Derivatives, Fair Value [Line Items]
Notional Amount	100,000
Regions Bank
Derivatives, Fair Value [Line Items]
Notional Amount	50,000
Royal Bank of Canada
Derivatives, Fair Value [Line Items]
Notional Amount	$ 50,000

Fair Value of Financial Instruments (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - Interest Rate Swap - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Derivative [Line Items]
Derivative Asset		$ 4,931
Derivative Liability	$ (3,914)	(580)
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)
Derivative [Line Items]
Derivative Asset		0
Derivative Liability	0	0
Significant Other Observable Inputs (Level 2)
Derivative [Line Items]
Derivative Asset		4,931
Derivative Liability	(3,914)	(580)
Significant Unobservable Inputs (Level 3)
Derivative [Line Items]
Derivative Asset		0
Derivative Liability	$ 0	$ 0

Fair Value of Financial Instruments (Balance Sheet Classification) (Details) - Derivatives designed as hedging instruments - Interest Rate Swap - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Other assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	$ 0	$ 4,931
Other Liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Liability	$ (3,914)	$ (580)

Fair Value of Financial Instruments (Location of Gain or Loss on Interest Rate Derivatives Designated as Cash Flow Hedges) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Amount of (loss) gain recognized in OCI on derivatives	$ (4,815)	$ 1,397	$ (7,423)	$ 4,787
Amount of loss (gain) reclassified from AOCI into interest	$ 263	$ (174)	$ 465	$ (592)

Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended		28 Months Ended
	Sep. 30, 2013	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2017
Income Tax Contingency [Line Items]
Operating lease, weighted average remaining lease term		37 years 10 months 24 days		37 years 10 months 24 days
Operating lease, weighted average discount rate, percent		5.20%		5.20%
Operating lease, rent expense		$ 394	$ 393	$ 806	$ 771
Tax protection agreements period (in years)						10 years
Litigation settlement, amount awarded to other party		1,400
Litigation settlement expense		$ 950		$ 950
Terranomics Crossroads Associates LP Member and SARM Five Points LLC
Income Tax Contingency [Line Items]
Tax protection agreements period (in years)	12 years

Commitments and Contingencies (Future Minimum Annual Lease Payments Under Operating Leases) (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Future Minimum Annual Lease Payments
Remaining 2019	$ 641
2020	1,287
2021	1,282
2022	1,304
2023	1,330
Thereafter	33,939
Total undiscounted future minimum lease payments	39,783
Future minimum lease payments, discount	(21,932)
Lease liability	$ 17,851

Related Party Transactions (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
General and Administrative Expense \| Related Party Lease Agreements
Related Party Transaction [Line Items]
SG&A expense	$ 21	$ 19	$ 42	$ 34

Subsequent Events (Details Textual) - $ / shares		3 Months Ended		6 Months Ended
Subsequent Events (Details Textual) - $ / shares	Jul. 24, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Subsequent Event [Line Items]
Dividend declared (usd per share)		$ 0.1970	$ 0.1950	$ 0.394	$ 0.3900
Subsequent Event
Subsequent Event [Line Items]
Dividend declared (usd per share)	$ 0.1970

Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 30, 2019	Jul. 19, 2019
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-33749
Entity Registrant Name	RETAIL OPPORTUNITY INVESTMENTS CORP
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	26-0500600
Entity Address, Address Line One	11250 El Camino Real
Entity Address, City or Town	San Diego,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92130
City Area Code	858
Local Phone Number	677-0900
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	ROIC
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding (in shares)		114,307,789
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001407623
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Retail Opportunity Investments Partnership L.P.
Document Information [Line Items]
Entity Registrant Name	Retail Opportunity Investments Partnerships L.P.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-2969738
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001577230

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Real Estate Investments:
Land	$ 887,080	$ 894,240
Building and improvements	2,257,777	2,266,232
Total real estate investments	3,144,857	3,160,472
Less: accumulated depreciation	359,090	329,207
Real estate investments, net before mortgage notes receivable	2,785,767	2,831,265
Mortgage note receivable	13,250	0
Real Estate Investments, net	2,799,017	2,831,265
Cash and cash equivalents	7,488	6,076
Restricted cash	1,554	1,373
Tenant and other receivables, net	44,304	46,832
Acquired lease intangible assets, net	66,285	72,109
Prepaid expenses	1,479	4,194
Deferred charges, net	30,323	33,857
Other	18,519	7,365
Total assets	2,968,969	3,003,071
Liabilities:
Term loan	299,201	299,076
Credit facility	149,120	153,689
Senior Notes	942,145	941,449
Mortgage notes payable	88,019	88,511
Acquired lease intangible liabilities, net	154,059	166,146
Accounts payable and accrued expenses	15,287	15,488
Tenants’ security deposits	7,118	7,065
Other liabilities	39,426	23,219
Total liabilities	1,694,375	1,694,643
Commitments and contingencies
Equity/Capital:
Preferred stock, $0.0001 par value 50,000,000 shares authorized; none issued and outstanding	0	0
Common stock, $0.0001 par value, 500,000,000 shares authorized; 114,307,789 and 113,992,837 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively	11	11
Additional paid-in capital	1,443,165	1,441,080
Dividends in excess of earnings	(280,488)	(256,438)
Accumulated other comprehensive (loss) income	(4,327)	3,561
Total Retail Opportunity Investments Corp. stockholders’ equity	1,158,361	1,188,214
Non-controlling interests	116,233	120,214
Total equity/capital	1,274,594	1,308,428
Total liabilities and equity/capital	2,968,969	3,003,071
Retail Opportunity Investments Partnership L.P.
Real Estate Investments:
Land	887,080	894,240
Building and improvements	2,257,777	2,266,232
Total real estate investments	3,144,857	3,160,472
Less: accumulated depreciation	359,090	329,207
Real estate investments, net before mortgage notes receivable	2,785,767	2,831,265
Mortgage note receivable	13,250	0
Real Estate Investments, net	2,799,017	2,831,265
Cash and cash equivalents	7,488	6,076
Restricted cash	1,554	1,373
Tenant and other receivables, net	44,304	46,832
Acquired lease intangible assets, net	66,285	72,109
Prepaid expenses	1,479	4,194
Deferred charges, net	30,323	33,857
Other	18,519	7,365
Total assets	2,968,969	3,003,071
Liabilities:
Term loan	299,201	299,076
Credit facility	149,120	153,689
Senior Notes	942,145	941,449
Mortgage notes payable	88,019	88,511
Acquired lease intangible liabilities, net	154,059	166,146
Accounts payable and accrued expenses	15,287	15,488
Tenants’ security deposits	7,118	7,065
Other liabilities	39,426	23,219
Total liabilities	1,694,375	1,694,643
Commitments and contingencies
Equity/Capital:
ROIC capital	1,162,688	1,184,653
Limited partners’ capital	116,233	120,214
Accumulated other comprehensive (loss) income	(4,327)	3,561
Total equity/capital	1,274,594	1,308,428
Total liabilities and equity/capital	$ 2,968,969	$ 3,003,071

Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	114,307,789	113,992,837
Common stock, shares outstanding (in shares)	114,307,789	113,992,837

Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues
Rental revenue	$ 71,821	$ 71,521	$ 147,188	$ 143,059
Other income	1,109	820	1,795	3,677
Total revenues	72,930	72,341	148,983	146,736
Operating expenses
Property operating	10,710	11,017	21,771	21,495
Property taxes	7,832	7,914	16,070	15,733
Depreciation and amortization	24,443	25,331	49,204	50,548
General and administrative expenses	4,950	3,990	9,226	7,521
Other expense	1,224	274	1,317	343
Total operating expenses	49,159	48,526	97,588	95,640
Gain on sale of real estate	180	0	2,818	0
Operating income	23,951	23,815	54,213	51,096
Non-operating expenses
Interest expense and other finance expenses	(15,605)	(15,713)	(31,284)	(31,170)
Net income	8,346	8,102	22,929	19,926
Net income attributable to non-controlling interests	(761)	(763)	(2,094)	(1,885)
Net Income Attributable to Retail Opportunity Investments Corp.	$ 7,585	$ 7,339	$ 20,835	$ 18,041
Earnings per share/unit - Basic and diluted (in dollars per share)	$ 0.07	$ 0.06	$ 0.18	$ 0.16
Dividends per share/unit (in dollars per share)	$ 0.1970	$ 0.1950	$ 0.394	$ 0.3900
Comprehensive income:
Net income	$ 8,346	$ 8,102	$ 22,929	$ 19,926
Other comprehensive (loss) income:
Unrealized swap derivative (loss) gain arising during the period	(4,815)	1,397	(7,423)	4,787
Reclassification adjustment for amortization of interest expense included in net income	(263)	174	(465)	592
Other comprehensive (loss) income	(5,078)	1,571	(7,888)	5,379
Comprehensive income	3,268	9,673	15,041	25,305
Comprehensive income attributable to non-controlling interests	(761)	(763)	(2,094)	(1,885)
Comprehensive income attributable to Retail Opportunity Investments Corp.	2,507	8,910	12,947	23,420
Retail Opportunity Investments Partnership L.P.
Revenues
Rental revenue	71,821	71,521	147,188	143,059
Other income	1,109	820	1,795	3,677
Total revenues	72,930	72,341	148,983	146,736
Operating expenses
Property operating	10,710	11,017	21,771	21,495
Property taxes	7,832	7,914	16,070	15,733
Depreciation and amortization	24,443	25,331	49,204	50,548
General and administrative expenses	4,950	3,990	9,226	7,521
Other expense	1,224	274	1,317	343
Total operating expenses	49,159	48,526	97,588	95,640
Gain on sale of real estate	180	0	2,818	0
Operating income	23,951	23,815	54,213	51,096
Non-operating expenses
Interest expense and other finance expenses	(15,605)	(15,713)	(31,284)	(31,170)
Net income	$ 8,346	$ 8,102	$ 22,929	$ 19,926
Earnings per share/unit - Basic and diluted (in dollars per share)	$ 0.07	$ 0.06	$ 0.18	$ 0.16
Dividends per share/unit (in dollars per share)	$ 0.1970	$ 0.1950	$ 0.3940	$ 0.3900
Comprehensive income:
Net income	$ 8,346	$ 8,102	$ 22,929	$ 19,926
Other comprehensive (loss) income:
Unrealized swap derivative (loss) gain arising during the period	(4,815)	1,397	(7,423)	4,787
Reclassification adjustment for amortization of interest expense included in net income	(263)	174	(465)	592
Other comprehensive (loss) income	(5,078)	1,571	(7,888)	5,379
Comprehensive income	$ 3,268	$ 9,673	$ 15,041	$ 25,305

Consolidated Statement of Equity - USD ($) $ in Thousands	Total	Common Stock	Additional paid-in capital	Accumulated dividends in excess of earnings	Accumulated other comprehensive income (loss)	Non- controlling interests	Officer	Officer Accumulated dividends in excess of earnings	Officer Non- controlling interests
Balance (in shares) at Dec. 31, 2017		112,347,451
Balance at Dec. 31, 2017	$ 1,329,641	$ 11	$ 1,412,590	$ (210,490)	$ 1,856	$ 125,674
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued under the Equity Incentive Plan (in shares)		373,861
Shares issued under the Equity Incentive Plan	0		0
Shares withheld for employee taxes (in shares)		(70,168)
Shares withheld for employee taxes	(1,400)		(1,400)
Cancellation of restricted stock (in shares)		(4,999)
Stock based compensation expense	1,428		1,428
Adjustment to non-controlling interests ownership in Operating Partnership			(191)			191
Proceeds from the issuance of common stock (in shares)		75,314
Proceeds from the issuance of common stock	1,508	$ 0	1,508
Registration expenditures	(48)		(48)
Cash dividends	(24,258)			(21,981)		(2,277)	$ (72)	$ (72)
Net income attributable to Retail Opportunity Investments Corp.	10,702			10,702
Net income attributable to non-controlling interests	1,122					1,122
Other comprehensive income (loss)	3,808				3,808
Balance (in shares) at Mar. 31, 2018		112,721,459
Balance at Mar. 31, 2018	1,322,431	$ 11	1,413,887	(221,841)	5,664	124,710
Balance (in shares) at Dec. 31, 2017		112,347,451
Balance at Dec. 31, 2017	1,329,641	$ 11	1,412,590	(210,490)	1,856	125,674
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Retail Opportunity Investments Corp.	18,041
Net income attributable to non-controlling interests	1,885
Balance (in shares) at Jun. 30, 2018		112,719,459
Balance at Jun. 30, 2018	1,309,121	$ 11	1,415,286	(236,570)	7,235	123,159
Balance (in shares) at Mar. 31, 2018		112,721,459
Balance at Mar. 31, 2018	1,322,431	$ 11	1,413,887	(221,841)	5,664	124,710
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cancellation of restricted stock (in shares)		(2,000)
Stock based compensation expense	1,991		1,991
Cash redemption for non-controlling interests	(560)					(560)
Adjustment to non-controlling interests ownership in Operating Partnership			(522)			522
Registration expenditures	(70)		(70)
Cash dividends	(24,256)			(21,980)		(2,276)	(88)	(88)
Net income attributable to Retail Opportunity Investments Corp.	7,339			7,339
Net income attributable to non-controlling interests	763					763
Other comprehensive income (loss)	1,571				1,571
Balance (in shares) at Jun. 30, 2018		112,719,459
Balance at Jun. 30, 2018	$ 1,309,121	$ 11	1,415,286	(236,570)	7,235	123,159
Balance (in shares) at Dec. 31, 2018	113,992,837	113,992,837
Balance at Dec. 31, 2018	$ 1,308,428	$ 11	1,441,080	(256,438)	3,561	120,214
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued under the Equity Incentive Plan (in shares)		445,022
Shares issued under the Equity Incentive Plan	0		0
Shares withheld for employee taxes (in shares)		(125,072)
Shares withheld for employee taxes	(1,986)		(1,986)
Cancellation of restricted stock (in shares)		(999)
Stock based compensation expense	1,651		1,651
Cash redemption for non-controlling interests	(1,246)					(1,246)
Adjustment to non-controlling interests ownership in Operating Partnership			56			(56)
Registration expenditures	(47)		(47)
Cash dividends	(24,766)			(22,519)		(2,247)	142	142
Net income attributable to Retail Opportunity Investments Corp.	13,250			13,250
Net income attributable to non-controlling interests	1,333					1,333
Other comprehensive income (loss)	(2,810)				(2,810)
Balance (in shares) at Mar. 31, 2019		114,311,788
Balance at Mar. 31, 2019	$ 1,293,949	$ 11	1,440,754	(265,565)	751	117,998
Balance (in shares) at Dec. 31, 2018	113,992,837	113,992,837
Balance at Dec. 31, 2018	$ 1,308,428	$ 11	1,441,080	(256,438)	3,561	120,214
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Retail Opportunity Investments Corp.	20,835
Net income attributable to non-controlling interests	$ 2,094
Balance (in shares) at Jun. 30, 2019	114,307,789	114,307,789
Balance at Jun. 30, 2019	$ 1,274,594	$ 11	1,443,165	(280,488)	(4,327)	116,233
Balance (in shares) at Mar. 31, 2019		114,311,788
Balance at Mar. 31, 2019	1,293,949	$ 11	1,440,754	(265,565)	751	117,998
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cancellation of restricted stock (in shares)		(3,999)
Stock based compensation expense	2,239		1,852			387
Adjustment to non-controlling interests ownership in Operating Partnership			592			(592)
Registration expenditures	(33)		(33)
Cash dividends	(24,764)			(22,517)		(2,247)	$ (65)	$ 9	$ (74)
Net income attributable to Retail Opportunity Investments Corp.	7,585			7,585
Net income attributable to non-controlling interests	761					761
Other comprehensive income (loss)	$ (5,078)				(5,078)
Balance (in shares) at Jun. 30, 2019	114,307,789	114,307,789
Balance at Jun. 30, 2019	$ 1,274,594	$ 11	$ 1,443,165	$ (280,488)	$ (4,327)	$ 116,233

Consolidated Statement of Equity (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Cash distributions per unit (in dollars per share)	$ 0.197	$ 0.1950
Dividends per share/unit (in dollars per share)	$ 0.1970	$ 0.1950	$ 0.394	$ 0.3900

Consolidated Statement of Partners' Capital - USD ($)
$ in Thousands

Total

Retail Opportunity Investments Partnership L.P.

Officer

Retail Opportunity Investments Partnership L.P.

Limited Partner’s Capital

Retail Opportunity Investments Partnership L.P.

Limited Partner’s Capital

Officer

^[1]

Retail Opportunity Investments Partnership L.P.

ROIC Capital

Retail Opportunity Investments Partnership L.P.

ROIC Capital

Officer

^[2]

Retail Opportunity Investments Partnership L.P.

Accumulated other comprehensive income (loss)

Balance (in shares) at Dec. 31, 2017

11,678,991

^[1]

112,347,451

^[2]

Balance at Dec. 31, 2017

$ 1,329,641

$ 125,674

^[1]

$ 1,202,111

^[2]

$ 1,856

Increase (Decrease) in Partners' Capital [Roll Forward]

OP units issued under the Equity Incentive Plan (in shares)

^[2]

373,861

OP Units issued under the Equity Incentive Plan

$ 0

^[2]

OP Units withheld for employee taxes (in shares)

^[2]

(70,168)

OP Units withheld for employee taxes

(1,400)

$ (1,400)

^[2]

Cancellation of OP Units (in shares)

^[2]

(4,999)

Cancellation of OP Units

$ 0

^[2]

Stock based compensation expense

1,428

^[2]

Adjustment to non-controlling interests ownership in Operating Partnership

191

^[1]

$ (191)

^[2]

Issuance of OP Units in connection with sale of common stock (in shares)

^[2]

75,314

Issuance of OP Units in connection with sale of common stock

1,508

$ 1,508

^[2]

Registration expenditures

(48)

^[2]

Cash distributions

(24,258)

$ (72)

(2,277)

^[1]

(21,981)

^[2]

$ (72)

Net income attributable to Retail Opportunity Investments Partnership, LP

11,824

$ 1,122

^[1]

$ 10,702

^[2]

Other comprehensive income (loss)

3,808

Balance (in shares) at Mar. 31, 2018

11,678,991

^[1]

112,721,459

^[2]

Balance at Mar. 31, 2018

1,322,431

$ 124,710

^[1]

$ 1,192,057

^[2]

5,664

Balance (in shares) at Dec. 31, 2017

11,678,991

^[1]

112,347,451

^[2]

Balance at Dec. 31, 2017

1,329,641

$ 125,674

^[1]

$ 1,202,111

^[2]

1,856

Increase (Decrease) in Partners' Capital [Roll Forward]

Net income attributable to Retail Opportunity Investments Partnership, LP

19,926

Balance (in shares) at Jun. 30, 2018

11,648,102

^[1]

112,719,459

^[2]

Balance at Jun. 30, 2018

1,309,121

$ 123,159

^[1]

$ 1,178,727

^[2]

7,235

Balance (in shares) at Mar. 31, 2018

11,678,991

^[1]

112,721,459

^[2]

Balance at Mar. 31, 2018

1,322,431

$ 124,710

^[1]

$ 1,192,057

^[2]

5,664

Increase (Decrease) in Partners' Capital [Roll Forward]

Cancellation of OP Units (in shares)

^[2]

(2,000)

Cancellation of OP Units

$ 0

^[2]

Stock based compensation expense

1,991

^[2]

Cash redemption of OP Units (in units)

^[1]

(30,889)

Cash redemption for non-controlling interests

(560)

$ (560)

^[1]

Adjustment to non-controlling interests ownership in Operating Partnership

522

^[1]

(522)

^[2]

Registration expenditures

(70)

^[2]

Cash distributions

(24,256)

(88)

(2,276)

^[1]

(21,980)

^[2]

(88)

Net income attributable to Retail Opportunity Investments Partnership, LP

8,102

$ 763

^[1]

$ 7,339

^[2]

Other comprehensive income (loss)

1,571

Balance (in shares) at Jun. 30, 2018

11,648,102

^[1]

112,719,459

^[2]

Balance at Jun. 30, 2018

1,309,121

$ 123,159

^[1]

$ 1,178,727

^[2]

7,235

Balance (in shares) at Dec. 31, 2018

11,477,041

^[1]

113,992,837

^[2]

Balance at Dec. 31, 2018

1,308,428

$ 120,214

^[1]

$ 1,184,653

^[2]

3,561

Increase (Decrease) in Partners' Capital [Roll Forward]

OP units issued under the Equity Incentive Plan (in shares)

^[2]

445,022

OP Units issued under the Equity Incentive Plan

$ 0

^[2]

OP Units withheld for employee taxes (in shares)

^[2]

(125,072)

OP Units withheld for employee taxes

(1,986)

$ (1,986)

^[2]

Cancellation of OP Units (in shares)

^[2]

(999)

Cancellation of OP Units

$ 0

^[2]

Stock based compensation expense

1,651

^[2]

Cash redemption of OP Units (in units)

^[1]

(70,000)

Cash redemption for non-controlling interests

(1,246)

$ (1,246)

^[1]

Adjustment to non-controlling interests ownership in Operating Partnership

(56)

^[1]

^[2]

Registration expenditures

(47)

^[2]

Cash distributions

(24,766)

142

(2,247)

^[1]

(22,519)

^[2]

142

Net income attributable to Retail Opportunity Investments Partnership, LP

14,583

$ 1,333

^[1]

$ 13,250

^[2]

Other comprehensive income (loss)

(2,810)

Balance (in shares) at Mar. 31, 2019

11,407,041

^[1]

114,311,788

^[2]

Balance at Mar. 31, 2019

1,293,949

$ 117,998

^[1]

$ 1,175,200

^[2]

751

Balance (in shares) at Dec. 31, 2018

11,477,041

^[1]

113,992,837

^[2]

Balance at Dec. 31, 2018

1,308,428

$ 120,214

^[1]

$ 1,184,653

^[2]

3,561

Increase (Decrease) in Partners' Capital [Roll Forward]

Net income attributable to Retail Opportunity Investments Partnership, LP

$ 22,929

22,929

Balance (in shares) at Jun. 30, 2019

125,714,830

11,407,041

^[1]

114,307,789

^[2]

Balance at Jun. 30, 2019

1,274,594

$ 116,233

^[1]

$ 1,162,688

^[2]

(4,327)

Balance (in shares) at Mar. 31, 2019

11,407,041

^[1]

114,311,788

^[2]

Balance at Mar. 31, 2019

1,293,949

$ 117,998

^[1]

$ 1,175,200

^[2]

751

Increase (Decrease) in Partners' Capital [Roll Forward]

Cancellation of OP Units (in shares)

^[2]

(3,999)

Cancellation of OP Units

$ 0

^[2]

Stock based compensation expense

$ 2,239

2,239

387

^[1]

1,852

^[2]

Adjustment to non-controlling interests ownership in Operating Partnership

(592)

^[1]

592

^[2]

Registration expenditures

(33)

^[2]

Cash distributions

(24,764)

$ (65)

(2,247)

^[1]

$ (74)

(22,517)

^[2]

$ 9

Net income attributable to Retail Opportunity Investments Partnership, LP

8,346

$ 761

^[1]

$ 7,585

^[2]

Other comprehensive income (loss)

$ (5,078)

(5,078)

Balance (in shares) at Jun. 30, 2019

125,714,830

11,407,041

^[1]

114,307,789

^[2]

Balance at Jun. 30, 2019

$ 1,274,594

$ 116,233

^[1]

$ 1,162,688

^[2]

$ (4,327)

[1]	Consists of limited partnership interests held by third parties.
[2]	Consists of general and limited partnership interests held by ROIC.

Consolidated Statement of Partners' Capital (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Cash distributions per unit (in dollars per share)	$ 0.197	$ 0.1950
Retail Opportunity Investments Partnership L.P.
Cash distributions per unit (in dollars per share)	$ 0.197	$ 0.1950	$ 0.3940	$ 0.3900

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 22,929	$ 19,926
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	49,204	50,548
Amortization of deferred financing costs and mortgage premiums, net	1,033	926
Straight-line rent adjustment	(1,726)	(2,881)
Amortization of above and below market rent	(9,938)	(7,218)
Amortization relating to stock based compensation	3,890	3,419
Provisions for tenant credit losses	1,274	789
Other noncash interest expense	377	1,070
Gain on sale of real estate	(2,818)	0
Change in operating assets and liabilities:
Tenant and other receivables	2,060	3,254
Prepaid expenses	2,673	1,252
Accounts payable and accrued expenses	(1,037)	(2,925)
Other assets and liabilities, net	(5,540)	(1,248)
Net cash provided by operating activities	62,381	66,912
CASH FLOWS FROM INVESTING ACTIVITIES
Investments in real estate	0	(39,176)
Proceeds from sale of real estate	16,305	0
Improvements to properties	(18,863)	(21,662)
Deposits on real estate acquisitions, net	0	500
Net cash used in investing activities	(2,558)	(60,338)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal repayments on mortgages	(273)	(10,493)
Proceeds from draws on credit facility	43,000	110,000
Payments on credit facility	(48,000)	(61,500)
Redemption of OP Units	(1,246)	(560)
Distributions to OP Unitholders	(4,494)	(4,553)
Proceeds from the sale of common stock	0	1,508
Registration expenditures	(65)	(118)
Dividends paid to common shareholders	(45,166)	(44,045)
Shares withheld for employee taxes	(1,986)	(1,400)
Net cash used in financing activities	(58,230)	(11,161)
Net increase (decrease) in cash, cash equivalents and restricted cash	1,593	(4,587)
Cash, cash equivalents and restricted cash at beginning of period	7,449	16,965
Cash, cash equivalents and restricted cash at end of period	9,042	12,378
Other non-cash investing and financing activities increase (decrease):
Intangible lease liabilities	0	925
Interest rate swap asset	(4,931)	4,309
Interest rate swap liabilities	3,335	0
Accrued real estate improvement costs	2,888	2,493
Disposition of real estate through issuance of mortgage note	13,250	0
Reconciliation of cash, cash equivalents and restricted cash [Abstract]
Cash and cash equivalents	7,488	10,958
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows	7,449	16,965
Retail Opportunity Investments Partnership L.P.
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	22,929	19,926
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	49,204	50,548
Amortization of deferred financing costs and mortgage premiums, net	1,033	926
Straight-line rent adjustment	(1,726)	(2,881)
Amortization of above and below market rent	(9,938)	(7,218)
Amortization relating to stock based compensation	3,890	3,419
Provisions for tenant credit losses	1,274	789
Other noncash interest expense	377	1,070
Gain on sale of real estate	(2,818)	0
Change in operating assets and liabilities:
Tenant and other receivables	2,060	3,254
Prepaid expenses	2,673	1,252
Accounts payable and accrued expenses	(1,037)	(2,925)
Other assets and liabilities, net	(5,540)	(1,248)
Net cash provided by operating activities	62,381	66,912
CASH FLOWS FROM INVESTING ACTIVITIES
Investments in real estate	0	(39,176)
Proceeds from sale of real estate	16,305	0
Improvements to properties	(18,863)	(21,662)
Deposits on real estate acquisitions, net	0	500
Net cash used in investing activities	(2,558)	(60,338)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal repayments on mortgages	(273)	(10,493)
Proceeds from draws on credit facility	43,000	110,000
Payments on credit facility	(48,000)	(61,500)
Redemption of OP Units	(1,246)	(560)
Distributions to OP Unitholders	(49,660)	(48,598)
Proceeds from the sale of common stock	0	1,508
Registration expenditures	(65)	(118)
Shares withheld for employee taxes	(1,986)	(1,400)
Net cash used in financing activities	(58,230)	(11,161)
Net increase (decrease) in cash, cash equivalents and restricted cash	1,593	(4,587)
Cash, cash equivalents and restricted cash at beginning of period	7,449	16,965
Cash, cash equivalents and restricted cash at end of period	9,042	12,378
Other non-cash investing and financing activities increase (decrease):
Intangible lease liabilities	0	925
Interest rate swap asset	(4,931)	4,309
Interest rate swap liabilities	3,335	0
Accrued real estate improvement costs	2,888	2,493
Disposition of real estate through issuance of mortgage note	13,250	0
Reconciliation of cash, cash equivalents and restricted cash [Abstract]
Cash and cash equivalents	7,488	10,958
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows	$ 7,449	$ 16,965

Organization, Basis of Presentation and Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Basis of Presentation and Summary of Significant Accounting Policies

Business

Recent Accounting Pronouncements

Principles of Consolidation

Use of Estimates

Federal Income Taxes

Real Estate Investments

Asset Impairment

Cash and Cash Equivalents

Restricted Cash

Revenue Recognition

Depreciation and Amortization

Deferred Leasing Costs

Concentration of Credit Risk

Earnings Per Share

The following table sets forth the reconciliation between basic and diluted EPS for ROIC (in thousands, except share data):



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Numerator:
Net income	$	8,346		$	8,102		$	22,929		$	19,926
Less income attributable to non-controlling interests	(761		)	(763		)	(2,094		)	(1,885		)
Less earnings allocated to unvested shares	(113		)	(100		)	(227		)	(201		)
Net income available for common stockholders, basic	$	7,472		$	7,239		$	20,608		$	17,840
Numerator:
Net income	$	8,346		$	8,102		$	22,929		$	19,926
Less earnings allocated to unvested shares	(113		)	(100		)	(227		)	(201		)
Net income available for common stockholders, diluted	$	8,233		$	8,002		$	22,702		$	19,725
Denominator:
Denominator for basic EPS – weighted average common equivalent shares	113,680,670			112,165,453			113,680,670			112,164,205
OP units	11,407,041			11,672,244			11,426,378			11,675,599
Performance-based restricted stock awards and LTIP Units	273,996			257,821			255,574			227,811
Stock options	96,525			109,471			95,491			110,323
Denominator for diluted EPS – weighted average common equivalent shares	125,458,232			124,204,989			125,458,113			124,177,938

Earnings Per Unit

The following table sets forth the reconciliation between basic and diluted earnings per unit for the Operating Partnership (in thousands, except unit data):



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Numerator:
Net income	$	8,346		$	8,102		$	22,929		$	19,926
Less earnings allocated to unvested shares	(113		)	(100		)	(227		)	(201		)
Net income available to unitholders, basic and diluted	$	8,233		$	8,002		$	22,702		$	19,725
Denominator:
Denominator for basic earnings per unit – weighted average common equivalent units	125,087,711			123,837,697			125,107,048			123,839,804
Performance-based restricted stock awards and LTIP Units	273,996			257,821			255,574			227,811
Stock options	96,525			109,471			95,491			110,323
Denominator for diluted earnings per unit – weighted average common equivalent units	125,458,232			124,204,989			125,458,113			124,177,938

Stock-Based Compensation

The Company has a stock-based employee compensation plan, which is more fully described in Note 7.

Derivatives

Segment Reporting

Reclassifications

Real Estate Investments	6 Months Ended
Real Estate Investments	Jun. 30, 2019
Real Estate [Abstract]
Real Estate Investments	Real Estate Investments The following real estate investment transactions have occurred during the six months ended June 30, 2019. Property Dispositions On February 15, 2019, the Company sold Vancouver Market Center, a non-core shopping center located in Vancouver, Washington. The sales price of $17.0 million, less costs to sell, resulted in net proceeds of approximately $16.0 million. The Company recorded a gain on sale of real estate of approximately $2.6 million during the six months ended June 30, 2019 related to this property disposition. On May 1, 2019, the Company sold Norwood Shopping Center, a non-core shopping center located in Sacramento, California for a sales price of $13.5 million. In connection with the sale of this property, the Company entered into a $13.3 million mortgage note with the buyer. The mortgage note is a four year interest only note whereby the interest rate increases 1% annually from 3% to 6%. The Company recorded a gain on sale of real estate of approximately $180,000 during the three and six months ended June 30, 2019 related to this property disposition.

Tenant Leases

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Tenant Leases

Future minimum rents to be received under non-cancellable leases as of June 30, 2019 are summarized as follows (in thousands):



	Minimum Rents
Remaining 2019	$	101,075
2020	191,841
2021	171,702
2022	146,176
2023	117,442
Thereafter	460,488
Total minimum lease payments	$	1,188,724

Mortgage Notes Payable, Credit Facilities and Senior Notes

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Mortgage Notes Payable, Credit Facilities and Senior Notes

Mortgage Notes Payable

The mortgage notes payable collateralized by respective properties and assignment of leases at June 30, 2019 and December 31, 2018, respectively, were as follows (in thousands):



Property	Maturity Date	Interest Rate		June 30, 2019			December 31, 2018
Casitas Plaza Shopping Center	June 2022	5.320	%	$	7,081		$	7,158
Riverstone Marketplace	July 2022	4.960	%	17,854			18,050
Fullerton Crossroads	April 2024	4.728	%	26,000			26,000
Diamond Hills Plaza	October 2025	3.550	%	35,500			35,500
				$	86,435		$	86,708
Mortgage premiums				1,834			2,074
Net unamortized deferred financing costs				(250		)	(271		)
Total mortgage notes payable				$	88,019		$	88,511

Term Loan and Credit Facility

The carrying values of the Company’s term loan (the “term loan”) were as follows (in thousands):



	June 30, 2019			December 31, 2018
Term loan	$	300,000		$	300,000
Net unamortized deferred financing costs	(799		)	(924		)
Term loan	$	299,201		$	299,076

The carrying values of the Company’s unsecured revolving credit facility were as follows (in thousands):



	June 30, 2019			December 31, 2018
Credit facility	$	151,000		$	156,000
Net unamortized deferred financing costs	(1,880		)	(2,311		)
Credit facility	$	149,120		$	153,689

Senior Notes Due 2027

The carrying value of the Company’s unsecured Senior Notes Due 2027 is as follows (in thousands):



	June 30, 2019			December 31, 2018
Principal amount	$	250,000		$	250,000
Net unamortized deferred financing costs	(1,061		)	(1,123		)
Senior Notes Due 2027	$	248,939		$	248,877

Senior Notes Due 2026

The carrying value of the Company’s unsecured Senior Notes Due 2026 is as follows (in thousands):



	June 30, 2019			December 31, 2018
Principal amount	$	200,000		$	200,000
Net unamortized deferred financing costs	(205		)	(219		)
Senior Notes Due 2026	$	199,795		$	199,781

Senior Notes Due 2024

The carrying value of the Company’s unsecured Senior Notes Due 2024 is as follows (in thousands):



	June 30, 2019			December 31, 2018
Principal amount	$	250,000		$	250,000
Unamortized debt discount	(2,084		)	(2,252		)
Net unamortized deferred financing costs	(1,204		)	(1,314		)
Senior Notes Due 2024	$	246,712		$	246,434

Senior Notes Due 2023

The carrying value of the Company’s unsecured Senior Notes Due 2023 is as follows (in thousands):



	June 30, 2019			December 31, 2018
Principal amount	$	250,000		$	250,000
Unamortized debt discount	(2,129		)	(2,339		)
Net unamortized deferred financing costs	(1,172		)	(1,304		)
Senior Notes Due 2023	$	246,699		$	246,357

Preferred Stock of ROIC	6 Months Ended
Preferred Stock of ROIC	Jun. 30, 2019
Equity [Abstract]
Preferred Stock of ROIC	Preferred Stock of ROIC ROIC is authorized to issue 50,000,000 shares of preferred stock with such designations, voting and other rights and preferences as may be determined from time to time by the board of directors. As of June 30, 2019 and December 31, 2018, there were no shares of preferred stock outstanding.

Common Stock of ROIC	6 Months Ended
Common Stock of ROIC	Jun. 30, 2019
Equity [Abstract]
Common Stock of ROIC	Common Stock of ROIC ATM On May 1, 2018, the Company entered into five separate Sales Agreements (the “Sales Agreements”) with each of Capital One Securities, Inc., Jefferies LLC, KeyBanc Capital Markets Inc., Raymond James & Associates, Inc., and Robert W. Baird & Co. Incorporated (each individually, an “Agent” and collectively, the “Agents”) pursuant to which ROIC may sell, from time to time, shares of ROIC’s common stock, par value $0.0001 per share, having an aggregate offering price of up to $250.0 million through the Agents either as agents or principals. During the six months ended June 30, 2019, ROIC did not sell any shares under the Sales Agreements. Since the Sales Agreements were entered into through June 30, 2019, ROIC has sold a total of 1,251,376 shares of common stock under the Sales Agreements, which resulted in gross proceeds of approximately $24.2 million and commissions of approximately $242,000 paid to the Agents. Stock Repurchase Program On July 31, 2013, the Company’s board of directors authorized a stock repurchase program to repurchase up to a maximum of $50.0 million of the Company’s common stock. During the six months ended June 30, 2019, the Company did not repurchase any shares of common stock under this program.

Stock Compensation for ROIC

6 Months Ended

Jun. 30, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Compensation for ROIC

Restricted Stock

During the six months ended June 30, 2019, ROIC awarded 354,161 shares of time-based restricted common stock under the Equity Incentive Plan.

A summary of the status of ROIC’s non-vested restricted stock awards as of June 30, 2019, and changes during the six months ended June 30, 2019 are presented below:



	Shares		Weighted Average Grant Date Fair Value
Non-vested at December 31, 2018	1,002,835		$	16.88
Granted	354,161		$	17.20
Vested	(364,913	)	$	19.06
Forfeited	(35,287	)	$	12.67
Non-vested at June 30, 2019	956,796		$	16.55

LTIP Units

Capital of the Operating Partnership	6 Months Ended
Capital of the Operating Partnership	Jun. 30, 2019
Equity [Abstract]
Capital of the Operating Partnership	Capital of the Operating Partnership As of June 30, 2019, the Operating Partnership had 125,714,830 OP Units outstanding. ROIC owned an approximate 90.9% partnership interest in the Operating Partnership at June 30, 2019, or 114,307,789 OP Units. The remaining 11,407,041 OP Units are owned by other limited partners. A share of ROIC’s common stock and an OP unit have essentially the same economic characteristics as they share equally in the total net income or loss and distributions of the Operating Partnership. As of June 30, 2019, subject to certain exceptions, holders are able to redeem their OP Units, at the option of ROIC, for cash or for unregistered shares of ROIC common stock on a one-for-one basis. If cash is paid in the redemption, the redemption price is equal to the average closing price on the NASDAQ Stock Market for shares of ROIC’s common stock over the ten consecutive trading days immediately preceding the date a redemption notice is received by ROIC. During the six months ended June 30, 2019, ROIC received a notice of redemption for a total of 70,000 OP Units. ROIC elected to redeem the OP Units in cash, and accordingly, a total of approximately $1.2 million was paid during the six months ended June 30, 2019 to the holder of the respective OP Units. In accordance with the Second Amended and Restated Agreement of Limited Partnership of the Operating Partnership, the redemption value was calculated based on the average closing price of ROIC’s common stock on the NASDAQ Stock Market for the ten consecutive trading days immediately preceding the date of receipt of the notice of redemption. The redemption value of outstanding OP Units owned by the limited partners as of June 30, 2019, not including ROIC, had such units been redeemed at June 30, 2019, was approximately $196.5 million, calculated based on the average closing price of ROIC’s common stock on the NASDAQ Stock Market for the ten consecutive trading days immediately preceding June 30, 2019, which amounted to $17.23 per share. Retail Opportunity Investments GP, LLC, ROIC’s wholly-owned subsidiary, is the sole general partner of the Operating Partnership, and as the parent company, ROIC has the full and complete authority over the Operating Partnership’s day-to-day management and control. As the sole general partner of the Operating Partnership, ROIC effectively controls the ability to issue common stock of ROIC upon redemption of any OP Units. The redemption provisions that permit ROIC to settle the redemption of OP Units in either cash or common stock, in the sole discretion of ROIC, are further evaluated in accordance with applicable accounting guidance to determine whether temporary or permanent equity classification on the balance sheet is appropriate. The Company evaluated this guidance, including the ability, in its sole discretion, to settle in unregistered shares of common stock, and determined that the OP Units meet the requirements to qualify for presentation as permanent equity.

Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Derivative and Hedging Activities

The following is a summary of the terms of the Company’s interest rate swaps as of June 30, 2019 (in thousands):



Swap Counterparty	Notional Amount		Effective Date	Maturity Date
Bank of Montreal	$	100,000	12/29/2017	8/31/2022
U.S. Bank	$	100,000	12/29/2017	8/31/2022
Regions Bank	$	50,000	1/31/2019	8/31/2022
Royal Bank of Canada	$	50,000	1/31/2019	8/31/2022



	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total
June 30, 2019:
Liabilities
Derivative financial instruments	$	—	$	(3,914	)	$	—	$	(3,914	)

December 31, 2018:
Assets
Derivative financial instruments	$	—	$	4,931		$	—	$	4,931
Liabilities
Derivative financial instruments	$	—	$	(580	)	$	—	$	(580	)



Derivatives designed as hedging instruments	Balance sheet location	June 30, 2019 Fair Value			December 31, 2018 Fair Value
Interest rate products	Other assets	$	—		$	4,931
Interest rate products	Other liabilities	$	(3,914	)	$	(580	)

Derivatives in Cash Flow Hedging Relationships



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Amount of (loss) gain recognized in OCI on derivatives	$	(4,815	)	$	1,397		$	(7,423	)	$	4,787
Amount of loss (gain) reclassified from AOCI into interest	$	263		$	(174	)	$	465		$	(592	)

- Definition

+ References + Details

Commitments and Contingencies

6 Months Ended

Jun. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

The following table represents a reconciliation of the Company’s undiscounted future minimum lease payments under operating leases to the lease liability as of June 30, 2019 (in thousands):



	Operating Leases
Remaining 2019	$	641
2020	1,287
2021	1,282
2022	1,304
2023	1,330
Thereafter	33,939
Total undiscounted future minimum lease payments	39,783
Future minimum lease payments, discount	(21,932		)
Lease liability	$	17,851

Tax Protection Agreements

Legal Settlement

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company has entered into several lease agreements with an officer of the Company, whereby pursuant to the lease agreements, the Company is provided the use of storage space. For the three months ended June 30, 2019 and 2018, the Company incurred approximately $21,000 and $19,000, respectively, of expenses relating to the agreements. For the six months ended June 30, 2019 and 2018, the Company incurred approximately $42,000 and $34,000, respectively, of expenses relating to the agreements. These expenses were included in General and administrative expenses in the accompanying consolidated statements of operations and comprehensive income.

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 24, 2019, ROIC’s board of directors declared a cash dividend on its common stock and a distribution on the Operating Partnership’s OP Units of $0.1970 per share and per OP Unit, payable on September 26, 2019 to holders of record on September 12, 2019.

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-2, “Leases.” ASU No. 2016-2 resulted in the recognition of a right-to-use asset and related liability to account for future obligations under ground lease agreements for which the Company is the lessee. In addition, this ASU requires that lessees and lessors capitalize, as initial direct costs, only those costs that are incurred due to the execution of a lease. Allocated payroll costs and other costs that are incurred regardless of whether the lease is obtained are no longer capitalized as initial direct costs and instead are expensed as incurred. Under ASU No. 2016-2, each lease agreement will be evaluated to identify the lease components and nonlease components at lease inception. The total consideration in the lease agreement will be allocated to the lease and nonlease components based on their relative standalone selling prices. Lessors will continue to recognize the lease revenue component using an approach that is substantially equivalent to existing guidance for operating leases (straight-line basis). In July 2018, the FASB issued an amendment to ASU No. 2016-2 that allows lessors to elect, as a practical expedient, not to allocate the total consideration to lease and nonlease components based on their relative standalone selling prices. This practical expedient allows lessors to elect a combined single lease component presentation if (i) the timing and pattern of the revenue recognition of the combined single lease component is the same, and (ii) the related lease component and, the combined single lease component would be classified as an operating lease. The amendment also provides a transition option that permits the application of the new guidance as of the adoption date rather than to all periods presented. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company adopted the provisions of ASU No. 2016-2 effective January 1, 2019 using the modified retrospective approach and accordingly, recognized a lease liability of approximately $18.0 million, which is included in Other liabilities on the accompanying balance sheet, and a related right-to-use asset of approximately $17.0 million, which is included in Other assets on the accompanying balance sheet, for all operating leases in which the Company is a lessee based on the present value of the minimum rental payments remaining as of the initial application date. The present value of the remaining lease payments was calculated for each operating lease using each respective remaining lease term and a corresponding estimated incremental borrowing rate, which is the interest rate that the Company estimates it would have to pay to borrow on a collateralized basis over a similar term. Based on its election of the package of practical expedients, the Company was not required to reassess whether any expired or existing contracts are or contain leases, reassess the lease classification for any expired or existing leases, or reassess initial direct costs for any existing leases. Accordingly, the Company’s ground lease agreements for which the Company is the lessee will continue to be accounted for as operating leases under the new standard. Further, the Company elected the practical expedient to account for both its lease and non-lease components as a combined single lease component and elected the optional transition method permitting January 1, 2019 to be its initial application date. Additionally, leasing payroll-related costs that are incurred regardless of whether leases are obtained are no longer capitalized as initial direct costs and instead are expensed as incurred. These costs amounted to approximately $277,000 and $611,000 during the three and six months ended June 30, 2018, respectively. Further, bad debt, which has previously been recorded in Property operating, has now been classified as a contra-revenue account in Rental revenue in the Company’s consolidated statements of operations and comprehensive income. In June 2016, the FASB issued ASU No. 2016-13 “Financial Instruments - Credit Topics.” ASU No. 2016-13 requires companies to adopt a new approach to estimating credit losses on certain types of financial instruments, such as trade and other receivables and loans. The standard requires entities to estimate a lifetime expected credit loss for most financial instruments, including trade receivables. ASU 2016-13 will be effective for the Company beginning on January 1, 2020, with early adoption permitted. The Company continues to evaluate the impact this pronouncement will have on the Company’s consolidated financial statements.
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements are prepared on the accrual basis in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for complete financial statement disclosures. In the opinion of management, the consolidated financial statements include all adjustments necessary, which are of a normal and recurring nature, for the fair presentation of the Company’s financial position and the results of operations and cash flows for the periods presented. Results of operations for the three and six month periods ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019. It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2018. The consolidated financial statements include the accounts of the Company and those of its subsidiaries, which are wholly-owned or controlled by the Company. Entities which the Company does not control through its voting interest and entities which are variable interest entities (“VIEs”), but where it is not the primary beneficiary, are accounted for under the equity method. All significant intercompany balances and transactions have been eliminated. The Company follows the FASB guidance for determining whether an entity is a VIE and requires the performance of a qualitative rather than a quantitative analysis to determine the primary beneficiary of a VIE. Under this guidance, an entity would be required to consolidate a VIE if it has (i) the power to direct the activities that most significantly impact the entity’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could be significant to the VIE. The Company has concluded that the Operating Partnership is a VIE, and because they have both the power and the rights to control the Operating Partnership, they are the primary beneficiary and are required to continue to consolidate the Operating Partnership. A non-controlling interest in a consolidated subsidiary is defined as the portion of the equity (net assets) in a subsidiary not attributable, directly or indirectly, to a parent. Non-controlling interests are required to be presented as a separate component of equity in the consolidated balance sheet and modify the presentation of net income by requiring earnings and other comprehensive income to be attributed to controlling and non-controlling interests.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the disclosure of contingent assets and liabilities, the reported amounts of assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the periods covered by the financial statements. The most significant assumptions and estimates relate to the purchase price allocations, depreciable lives, revenue recognition and the collectability of tenant receivables, other receivables, notes receivables, the valuation of performance-based restricted stock, LTIPs, and derivatives. Actual results could differ from these estimates.
Federal Income Taxes	Federal Income Taxes The Company has elected to qualify as a REIT under Sections 856-860 of the Internal Revenue Code (the “Code”). Under those sections, a REIT that, among other things, distributes at least 90% of its REIT taxable income (determined without regard to the dividends paid deduction and excluding net capital gains) and meets certain other qualifications prescribed by the Code, will not be taxed on that portion of its taxable income that is distributed. Although it may qualify as a REIT for U.S. federal income tax purposes, the Company is subject to state income or franchise taxes in certain states in which some of its properties are located. In addition, taxable income from non-REIT activities managed through the Company’s taxable REIT subsidiary (“TRS”), if any, is fully subject to U.S. federal, state and local income taxes. For all periods from inception through September 26, 2013 the Operating Partnership had been an entity disregarded from its sole owner, ROIC, for U.S. federal income tax purposes and as such had not been subject to U.S. federal income taxes. Effective September 27, 2013, the Operating Partnership issued OP Units in connection with the acquisitions of two shopping centers. Accordingly, the Operating Partnership ceased being a disregarded entity and instead is being treated as a partnership for U.S. federal income tax purposes. The Company follows the FASB guidance that defines a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The FASB also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. The Company records interest and penalties relating to unrecognized tax benefits, if any, as interest expense. As of June 30, 2019, the statute of limitations for the tax years 2015 through and including 2017 remain open for examination by the Internal Revenue Service (“IRS”) and state taxing authorities. ROIC intends to make regular quarterly distributions to holders of its common stock. U.S. federal income tax law generally requires that a REIT distribute annually at least 90% of its REIT taxable income, without regard to the deduction for dividends paid and excluding net capital gains, and that it pay U.S. federal income tax at regular corporate rates to the extent that it annually distributes less than 100% of its net taxable income. ROIC intends to pay regular quarterly dividends to stockholders in an amount not less than its net taxable income, if and to the extent authorized by its board of directors. Before ROIC pays any dividend, whether for U.S. federal income tax purposes or otherwise, it must first meet both its operating requirements and its debt service on debt. If ROIC’s cash available for distribution is less than its net taxable income, it could be required to sell assets or borrow funds to make cash distributions or it may make a portion of the required distribution in the form of a taxable stock distribution or distribution of debt securities.
Real Estate Investments	Real Estate Investments All costs related to the improvement or replacement of real estate properties are capitalized. Additions, renovations and improvements that enhance and/or extend the useful life of a property are also capitalized. Expenditures for ordinary maintenance, repairs and improvements that do not materially prolong the normal useful life of an asset are charged to operations as incurred. During the six months ended June 30, 2019 and 2018, capitalized costs related to the improvement or replacement of real estate properties were approximately $21.1 million and $20.6 million, respectively. The Company evaluates each acquisition of real estate to determine if the acquired property meets the definition of a business and needs to be accounted for as a business combination. Under ASU No. 2017-1, the Company first determines whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. If this threshold is met, the acquired property does not meet the definition of a business and is accounted for as an asset acquisition. The Company expects that acquisitions of real estate properties will not meet the revised definition of a business because substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets (i.e. land, buildings, and related intangible assets). The Company recognizes the acquisition of real estate properties, including acquired tangible assets (consisting of land, buildings and improvements), and acquired intangible assets and liabilities (consisting of above-market and below-market leases and acquired in-place leases) at their fair value (for acquisitions meeting the definition of a business) and relative fair value (for acquisitions not meeting the definition of a business). The relative fair values used to allocate the cost of an asset acquisition are determined using the same methodologies and assumptions the Company utilizes to determine fair value in a business combination. Acquired lease intangible assets include above-market leases and acquired in-place leases, and acquired lease intangible liabilities represent below-market leases, in the accompanying consolidated balance sheets. The fair value of the tangible assets of an acquired property is determined by valuing the property as if it were vacant, which value is then allocated to land, buildings and improvements based on management’s determination of the relative fair values of these assets. In valuing an acquired property’s intangibles, factors considered by management include an estimate of carrying costs during the expected lease-up periods, and estimates of lost rental revenue during the expected lease-up periods based on management’s evaluation of current market demand. Management also estimates costs to execute similar leases, including leasing commissions, tenant improvements, legal and other related costs. Leasing commissions, legal and other related costs (“lease origination costs”) are classified as deferred charges in the accompanying consolidated balance sheets. The value of in-place leases is measured by the excess of (i) the purchase price paid for a property after adjusting existing in-place leases to market rental rates, over (ii) the estimated fair value of the property as if vacant. Above-market and below-market lease values are recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between the contractual amounts to be received and management’s estimate of market lease rates, measured over the terms of the respective leases that management deemed appropriate at the time of acquisition. Such valuations include a consideration of the non-cancellable terms of the respective leases as well as any applicable renewal periods. The fair values associated with below-market rental renewal options are determined based on the Company’s experience and the relevant facts and circumstances that existed at the time of the acquisitions. The value of the above-market and below-market leases is amortized to base rental income, over the terms of the respective leases including option periods, if applicable. The value of in-place leases is amortized to expense over the remaining non-cancellable terms of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts relating to that lease would be recognized in operations at that time. The Company expenses transaction costs associated with business combinations and unsuccessful property asset acquisitions in the period incurred and capitalizes transaction costs associated with successful property asset acquisitions.Sales of real estate are recognized only when it is determined that the Company will collect substantially all of the consideration to which it is entitled, possession and other attributes of ownership have been transferred to the buyer and the Company has no significant continuing involvement. The application of these criteria can be complex and requires the Company to make assumptions.
Asset Impairment	Asset Impairment The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset to aggregate future net cash flows (undiscounted and without interest) expected to be generated by the asset. If such assets are considered impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceed the fair value.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents are maintained at financial institutions and, at times, balances may exceed the federally insured limit by the Federal Deposit Insurance Corporation.
Restricted Cash	Restricted Cash The terms of the Company’s mortgage loans payable may require the Company to deposit certain replacement and other reserves with its lenders. Such “restricted cash” is generally available only for property-level requirements for which the reserves have been established and is not available to fund other property-level or Company-level obligations.
Revenue Recognition	Revenue Recognition Management has determined that all of the Company’s leases with its various tenants are operating leases. Rental income is generally recognized based on the terms of leases entered into with tenants. In those instances in which the Company funds tenant improvements and the improvements are deemed to be owned by the Company, revenue recognition will commence when the improvements are substantially completed and possession or control of the space is turned over to the tenant. When the Company determines that the tenant allowances are lease incentives, the Company commences revenue recognition and lease incentive amortization when possession or control of the space is turned over to the tenant for tenant work to begin. Minimum rental income from leases with scheduled rent increases is recognized on a straight-line basis over the lease term. Prior to January 1, 2019, the Company considered property operating expense recoveries from tenants of common area maintenance, real estate taxes and other recoverable costs as lease components. Effective January 1, 2019, each lease agreement is evaluated to identify the lease and nonlease components at lease inception. The Company elected the single component practical expedient, which allows lessors to elect a combined single lease component presentation if (i) the timing and pattern of the revenue recognition of the combined single lease component is the same, and (ii) the related lease component and, the combined single lease component would be classified as an operating lease. As a result of this assessment, rental revenues and tenant recoveries from the lease of real estate assets are accounted for as a single component. Lease incentives are amortized as a reduction of rental revenue over the respective tenant lease terms. Termination fees (included in Other income in the consolidated statements of operations and comprehensive income) are fees that the Company has agreed to accept in consideration for permitting certain tenants to terminate their lease prior to the contractual expiration date. The Company recognizes termination fees when the following conditions are met: (a) the termination agreement is executed; (b) the termination fee is determinable; (c) all landlord services pursuant to the terminated lease have been rendered; and (d) collectability of the termination fee is assured. Interest income is recognized as it is earned. Gains or losses on disposition of properties are recorded when the criteria for recognizing such gains or losses have been met. The Company must make estimates as to the collectability of its accounts receivable related to base rent, straight-line rent, expense reimbursements and other revenues. Management analyzes accounts receivable by considering tenant creditworthiness, current economic trends, and changes in tenants’ payment patterns when evaluating the adequacy of the allowance for doubtful accounts receivable. The Company also provides an allowance for future credit losses of the deferred straight-line rents receivable.
Depreciation and Amortization	Depreciation and Amortization The Company uses the straight-line method for depreciation and amortization. Buildings are depreciated over the estimated useful lives which the Company estimates to be 39-40 years. Property improvements are depreciated over estimated useful lives that range from 10 to 20 years. Furniture and fixtures are depreciated over estimated useful lives that range from 3 to 10 years. Tenant improvements are amortized over the shorter of the life of the related leases or their useful life.
Deferred Leasing	Costs incurred in obtaining tenant leases (principally leasing commissions and acquired lease origination costs) are amortized ratably over the life of the tenant leases. The amortization of deferred leasing costs is included in Depreciation and amortization in the consolidated statements of operations and comprehensive income.
Concentration Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and tenant receivables. The Company places its cash and cash equivalents in excess of insured amounts with high quality financial institutions. The Company performs ongoing credit evaluations of its tenants and requires tenants to provide security deposits.
Earnings Per Share	Earnings Per Share Basic earnings per share (“EPS”) excludes the impact of dilutive shares and is computed by dividing net income by the weighted average number of shares of common stock outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue shares of common stock were exercised or converted into shares of common stock and then shared in the earnings of the Company. For the three and six months ended June 30, 2019 and 2018, basic EPS was determined by dividing net income allocable to common stockholders for the applicable period by the weighted average number of shares of common stock outstanding during such period. Net income during the applicable period is also allocated to the time-based unvested restricted stock as these grants are entitled to receive dividends and are therefore considered a participating security. Time-based unvested restricted stock is not allocated net losses and/or any excess of dividends declared over net income; such amounts are allocated entirely to the common stockholders other than the holders of time-based unvested restricted stock. The performance-based restricted stock awards outstanding under the Equity Incentive Plan described in Note 7 are excluded from the basic EPS calculation, as these units are not participating securities until they vest.
Share-Based Compensation	Stock-Based Compensation The Company has a stock-based employee compensation plan, which is more fully described in Note 7. The Company accounts for its stock-based compensation plan based on the FASB guidance which requires that compensation expense be recognized based on the fair value of the stock awards less forfeitures. Restricted stock grants vest based upon the completion of a service period (“time-based restricted stock grants”) and/or the Company meeting certain established market-indexed financial performance criteria (“performance-based restricted stock grants”). Time-based grants are valued according to the market price for the Company’s common stock at the date of grant. For performance-based restricted stock grants, a Monte Carlo valuation model is used, taking into account the underlying contingency risks associated with the performance criteria. It is the Company’s policy to grant options with an exercise price equal to the quoted closing market price of stock on the grant date. The Company has made certain separate awards in the form of units of limited partnership interests in its Operating Partnership called LTIP Units. The LTIP Units are subject to such conditions and restrictions as the compensation committee may determine, including continued employment or service, achievement of pre-established operational performance goals and market-indexed performance criteria. For the LTIP Units subject to market-indexed performance criteria (the “marked-indexed LTIP Units”), a Monte Carlo valuation model is used, taking into account the underlying contingency risks associated with the performance criteria. All other LTIP Units (the “operational LTIP Units”) are valued according to the market price of the Company’s common stock at the date of grant. Awards of stock options, time-based restricted stock grants and operational LTIP Units are expensed as compensation on a straight-line basis over the requisite service period. Awards of performance-based restricted stock and market-indexed LTIP Units are expensed as compensation under the accelerated attribution method and are recognized in income regardless of the results of the performance criteria.
Derivatives	Derivatives The Company records all derivatives on the balance sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged forecasted transactions in a cash flow hedge. When the Company terminates a derivative for which cash flow hedging was being applied, the balance, which was recorded in Other comprehensive income, is amortized to interest expense over the remaining contractual term of the derivative as long as the hedged forecasted transactions continue to be probable of occurring. The Company includes cash payments made to terminate interest rate derivatives as an operating activity on the statement of cash flows, given the nature of the underlying cash flows that the derivative was hedging.
Segment Reporting	Segment Reporting The Company’s primary business is the ownership, management, and redevelopment of retail real estate properties. The Company reviews operating and financial information for each property on an individual basis and therefore, each property represents an individual operating segment. The Company evaluates financial performance using property operating income, defined as operating revenues (base rent and recoveries from tenants), less property and related expenses (property operating expenses and property taxes). The Company has aggregated the properties into one reportable segment as the properties share similar long-term economic characteristics and have other similarities including the fact that they are operated using consistent business strategies, are typically located in major metropolitan areas, and have similar tenant mixes.

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the reconciliation between basic and diluted EPS for ROIC (in thousands, except share data):



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Numerator:
Net income	$	8,346		$	8,102		$	22,929		$	19,926
Less income attributable to non-controlling interests	(761		)	(763		)	(2,094		)	(1,885		)
Less earnings allocated to unvested shares	(113		)	(100		)	(227		)	(201		)
Net income available for common stockholders, basic	$	7,472		$	7,239		$	20,608		$	17,840
Numerator:
Net income	$	8,346		$	8,102		$	22,929		$	19,926
Less earnings allocated to unvested shares	(113		)	(100		)	(227		)	(201		)
Net income available for common stockholders, diluted	$	8,233		$	8,002		$	22,702		$	19,725
Denominator:
Denominator for basic EPS – weighted average common equivalent shares	113,680,670			112,165,453			113,680,670			112,164,205
OP units	11,407,041			11,672,244			11,426,378			11,675,599
Performance-based restricted stock awards and LTIP Units	273,996			257,821			255,574			227,811
Stock options	96,525			109,471			95,491			110,323
Denominator for diluted EPS – weighted average common equivalent shares	125,458,232			124,204,989			125,458,113			124,177,938

Earnings Per Unit

The following table sets forth the reconciliation between basic and diluted earnings per unit for the Operating Partnership (in thousands, except unit data):



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Numerator:
Net income	$	8,346		$	8,102		$	22,929		$	19,926
Less earnings allocated to unvested shares	(113		)	(100		)	(227		)	(201		)
Net income available to unitholders, basic and diluted	$	8,233		$	8,002		$	22,702		$	19,725
Denominator:
Denominator for basic earnings per unit – weighted average common equivalent units	125,087,711			123,837,697			125,107,048			123,839,804
Performance-based restricted stock awards and LTIP Units	273,996			257,821			255,574			227,811
Stock options	96,525			109,471			95,491			110,323
Denominator for diluted earnings per unit – weighted average common equivalent units	125,458,232			124,204,989			125,458,113			124,177,938

Tenant Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Future minimum rents to be received under non-cancellable leases

Future minimum rents to be received under non-cancellable leases as of June 30, 2019 are summarized as follows (in thousands):



	Minimum Rents
Remaining 2019	$	101,075
2020	191,841
2021	171,702
2022	146,176
2023	117,442
Thereafter	460,488
Total minimum lease payments	$	1,188,724

Mortgage Notes Payable, Credit Facilities and Senior Notes (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Debt

The mortgage notes payable collateralized by respective properties and assignment of leases at June 30, 2019 and December 31, 2018, respectively, were as follows (in thousands):



Property	Maturity Date	Interest Rate		June 30, 2019			December 31, 2018
Casitas Plaza Shopping Center	June 2022	5.320	%	$	7,081		$	7,158
Riverstone Marketplace	July 2022	4.960	%	17,854			18,050
Fullerton Crossroads	April 2024	4.728	%	26,000			26,000
Diamond Hills Plaza	October 2025	3.550	%	35,500			35,500
				$	86,435		$	86,708
Mortgage premiums				1,834			2,074
Net unamortized deferred financing costs				(250		)	(271		)
Total mortgage notes payable				$	88,019		$	88,511

Schedule of Long-term Debt Instruments

The carrying values of the Company’s unsecured revolving credit facility were as follows (in thousands):



	June 30, 2019			December 31, 2018
Credit facility	$	151,000		$	156,000
Net unamortized deferred financing costs	(1,880		)	(2,311		)
Credit facility	$	149,120		$	153,689

The carrying value of the Company’s unsecured Senior Notes Due 2027 is as follows (in thousands):



	June 30, 2019			December 31, 2018
Principal amount	$	250,000		$	250,000
Net unamortized deferred financing costs	(1,061		)	(1,123		)
Senior Notes Due 2027	$	248,939		$	248,877

The carrying values of the Company’s term loan (the “term loan”) were as follows (in thousands):



	June 30, 2019			December 31, 2018
Term loan	$	300,000		$	300,000
Net unamortized deferred financing costs	(799		)	(924		)
Term loan	$	299,201		$	299,076

The carrying value of the Company’s unsecured Senior Notes Due 2026 is as follows (in thousands):



	June 30, 2019			December 31, 2018
Principal amount	$	200,000		$	200,000
Net unamortized deferred financing costs	(205		)	(219		)
Senior Notes Due 2026	$	199,795		$	199,781

The carrying value of the Company’s unsecured Senior Notes Due 2024 is as follows (in thousands):



	June 30, 2019			December 31, 2018
Principal amount	$	250,000		$	250,000
Unamortized debt discount	(2,084		)	(2,252		)
Net unamortized deferred financing costs	(1,204		)	(1,314		)
Senior Notes Due 2024	$	246,712		$	246,434

The carrying value of the Company’s unsecured Senior Notes Due 2023 is as follows (in thousands):



	June 30, 2019			December 31, 2018
Principal amount	$	250,000		$	250,000
Unamortized debt discount	(2,129		)	(2,339		)
Net unamortized deferred financing costs	(1,172		)	(1,304		)
Senior Notes Due 2023	$	246,699		$	246,357

- Definition

+ References

+ Details

Stock Compensation for ROIC (Tables)

6 Months Ended

Jun. 30, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Nonvested Restricted Stock Units Activity

A summary of the status of ROIC’s non-vested restricted stock awards as of June 30, 2019, and changes during the six months ended June 30, 2019 are presented below:



	Shares		Weighted Average Grant Date Fair Value
Non-vested at December 31, 2018	1,002,835		$	16.88
Granted	354,161		$	17.20
Vested	(364,913	)	$	19.06
Forfeited	(35,287	)	$	12.67
Non-vested at June 30, 2019	956,796		$	16.55

Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Schedule of summary of the terms of the Company’s interest rate swaps

The following is a summary of the terms of the Company’s interest rate swaps as of June 30, 2019 (in thousands):



Swap Counterparty	Notional Amount		Effective Date	Maturity Date
Bank of Montreal	$	100,000	12/29/2017	8/31/2022
U.S. Bank	$	100,000	12/29/2017	8/31/2022
Regions Bank	$	50,000	1/31/2019	8/31/2022
Royal Bank of Canada	$	50,000	1/31/2019	8/31/2022

Company’s assets and liabilities measured at fair value on a recurring basis



	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total
June 30, 2019:
Liabilities
Derivative financial instruments	$	—	$	(3,914	)	$	—	$	(3,914	)

December 31, 2018:
Assets
Derivative financial instruments	$	—	$	4,931		$	—	$	4,931
Liabilities
Derivative financial instruments	$	—	$	(580	)	$	—	$	(580	)

Schedule of Company’s derivative financial instruments as well as their classification on the balance sheet



Derivatives designed as hedging instruments	Balance sheet location	June 30, 2019 Fair Value			December 31, 2018 Fair Value
Interest rate products	Other assets	$	—		$	4,931
Interest rate products	Other liabilities	$	(3,914	)	$	(580	)

Details the location in the financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Amount of (loss) gain recognized in OCI on derivatives	$	(4,815	)	$	1,397		$	(7,423	)	$	4,787
Amount of loss (gain) reclassified from AOCI into interest	$	263		$	(174	)	$	465		$	(592	)

- Definition

+ References

+ Details

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases

The following table represents a reconciliation of the Company’s undiscounted future minimum lease payments under operating leases to the lease liability as of June 30, 2019 (in thousands):



	Operating Leases
Remaining 2019	$	641
2020	1,287
2021	1,282
2022	1,304
2023	1,330
Thereafter	33,939
Total undiscounted future minimum lease payments	39,783
Future minimum lease payments, discount	(21,932		)
Lease liability	$	17,851

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) segment	Jun. 30, 2018 USD ($)	Jan. 01, 2019 USD ($)	Dec. 31, 2018 USD ($)
Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details) [Line Items]
Operating lease, liability	$ 17,851		$ 17,851
Payroll related costs capitalized		$ 277		$ 611
Taxable income minimum distribution portion not subject to federal taxation (in percentage)	90.00%		90.00%
Real estate improvements			$ 21,100	20,600
Acquisition costs	$ 0	$ 0	0	$ 0
Allowance for doubtful accounts receivable	$ 7,800		$ 7,800			$ 6,900
Number of segments \| segment			1
Accounting Standards Update 2016-02
Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details) [Line Items]
Operating lease, liability					$ 18,000
Operating lease, right-of-use asset					$ 17,000
Minimum \| Building
Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details) [Line Items]
PPE useful life (in years)			39 years
Minimum \| Building Improvements
Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details) [Line Items]
PPE useful life (in years)			10 years
Minimum \| Furniture and Fixtures
Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details) [Line Items]
PPE useful life (in years)			3 years
Maximum \| Building
Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details) [Line Items]
PPE useful life (in years)			40 years
Maximum \| Building Improvements
Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details) [Line Items]
PPE useful life (in years)			20 years
Maximum \| Furniture and Fixtures
Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details) [Line Items]
PPE useful life (in years)			10 years

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Reconciliation Between Basic and Diluted EPS) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Numerator:
Net income	$ 8,346		$ 8,102		$ 22,929	$ 19,926
Less income attributable to non-controlling interests	(761)	$ (1,333)	(763)	$ (1,122)	(2,094)	(1,885)
Less earnings allocated to unvested shares	(113)		(100)		(227)	(201)
Net income available for common stockholders, basic	7,472		7,239		20,608	17,840
Less earnings allocated to unvested shares	(113)		(100)		(227)	(201)
Net income available for common stockholders, diluted	$ 8,233		$ 8,002		$ 22,702	$ 19,725
Denominator:
Denominator for basic EPS – weighted average common equivalent shares (in shares)	113,680,670		112,165,453		113,680,670	112,164,205
Denominator for diluted EPS – weighted average common equivalent shares (in shares)	125,458,232		124,204,989		125,458,113	124,177,938
Retail Opportunity Investments Partnership L.P.
Numerator:
Net income	$ 8,346	$ 14,583	$ 8,102	$ 11,824	$ 22,929	$ 19,926
Less earnings allocated to unvested shares	(113)		(100)		(227)	(201)
Net income available to unitholders, basic and diluted	$ 8,233		$ 8,002		$ 22,702	$ 19,725
Denominator:
Denominator for basic EPS – weighted average common equivalent shares (in shares)	125,087,711		123,837,697		125,107,048	123,839,804
Denominator for diluted EPS – weighted average common equivalent shares (in shares)	125,458,232		124,204,989		125,458,113	124,177,938
OP units
Denominator:
OP units (in shares)	11,407,041		11,672,244		11,426,378	11,675,599
Performance-based restricted stock awards and LTIP Units
Denominator:
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	273,996		257,821		255,574	227,811
Performance-based restricted stock awards and LTIP Units \| Retail Opportunity Investments Partnership L.P.
Denominator:
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	273,996		257,821		255,574	227,811
Stock options
Denominator:
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	96,525		109,471		95,491	110,323
Stock options \| Retail Opportunity Investments Partnership L.P.
Denominator:
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	96,525		109,471		95,491	110,323

Real Estate Investments (Details Textual) - USD ($) $ in Thousands			3 Months Ended		6 Months Ended
	May 01, 2019	Feb. 15, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Real Estate Properties [Line Items]
Proceeds from sale of real estate					$ 16,305	$ 0
Gain on sale of real estate			$ 180	$ 0	2,818	$ 0
Mortgage note receivable			$ 13,250		$ 13,250		$ 0
Vancouver Market Center \| Vancouver, Washington
Real Estate Properties [Line Items]
Sales price of property sold		$ 17,000
Proceeds from sale of real estate		16,000
Gain on sale of real estate		$ 2,600
Norwood Shopping Center
Real Estate Properties [Line Items]
Mortgage note receivable	$ 13,300
Mortgage notes receivable, interest rate, increase (decrease)	1.00%
Mortgage notes receivable, term	4 years
Norwood Shopping Center \| Sacramento
Real Estate Properties [Line Items]
Sales price of property sold	$ 13,500
Gain on sale of real estate	$ 180
Minimum \| Norwood Shopping Center
Real Estate Properties [Line Items]
Mortgage notes receivable, interest rate, stated percentage	3.00%
Maximum \| Norwood Shopping Center
Real Estate Properties [Line Items]
Mortgage notes receivable, interest rate, stated percentage	6.00%

Tenant Leases Minimum Future Rentals to be Received under Non-cancellable Leases (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Leases [Abstract]
Remaining 2019	$ 101,075
2020	191,841
2021	171,702
2022	146,176
2023	117,442
Thereafter	460,488
Total minimum lease payments	$ 1,188,724

Mortgage Notes Payable, Credit Facilities and Senior Notes (Details Textual)		3 Months Ended	6 Months Ended
	Sep. 08, 2017 USD ($) credit_facility_extension	Jun. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Dec. 31, 2018 USD ($)	Nov. 10, 2017 USD ($)	Jun. 30, 2017 USD ($)	Jul. 26, 2016 USD ($)	Sep. 29, 2015 USD ($)	Dec. 03, 2014 USD ($)	Dec. 09, 2013 USD ($)
Term Loan Agreement
Debt Instrument [Line Items]
Debt instrument, face amount		$ 300,000,000	$ 300,000,000	$ 300,000,000				$ 300,000,000.0
Additional borrowing capacity								$ 200,000,000.0
Long term debt		$ 300,000,000.0	$ 300,000,000.0
Interest rate during period (percentage)		3.60%	3.60%
Debt Instrument, Swapped Interest Rate			3.10%
Remaining borrowing capacity		$ 0	$ 0
Senior Notes Due 2027 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount		250,000,000	250,000,000	250,000,000	$ 250,000,000.0
Interest rate (percentage)					4.19%
Senior Notes Due 2026 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount		200,000,000	200,000,000	200,000,000			$ 200,000,000.0
Interest rate (percentage)							3.95%
Senior Notes Due 2024 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount		250,000,000	250,000,000	250,000,000					$ 250,000,000.0
Interest rate (percentage)									4.00%
Senior Notes Due 2023 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount		$ 250,000,000	$ 250,000,000	250,000,000						$ 250,000,000.0
Interest rate (percentage)										5.00%
Federal Funds Effective Swap Rate \| Term Loan Agreement
Debt Instrument [Line Items]
Variable rate (percentage)			0.50%
Eurodollar \| Term Loan Agreement
Debt Instrument [Line Items]
Variable rate (percentage)			1.10%
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 600,000,000.0					$ 500,000,000.0
Credit facility, number of extension options \| credit_facility_extension	2
Debt instrument, extension, term	6 months
Commitment fee (percentage)			0.20%
Fronting fee (percentage)		0.125%	0.125%
Long-term, line of credit		$ 151,000,000	$ 151,000,000	$ 156,000,000
Line of credit facility, interest rate during the period (percentage)		3.50%	3.50%
Remaining borrowing capacity		$ 449,000,000.0	$ 449,000,000.0
Revolving Credit Facility \| Federal Funds Effective Swap Rate
Debt Instrument [Line Items]
Variable rate (percentage)			0.50%
Revolving Credit Facility \| Eurodollar
Debt Instrument [Line Items]
Variable rate (percentage)			1.00%
Revolving Credit Facility \| Accordion Feature
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 1,200,000,000	$ 1,200,000,000

Mortgage Notes Payable, Credit Facilities and Senior Notes (Mortgage Notes based on their respective Properties) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total mortgage notes payable	$ 88,019	$ 88,511
Notes Payable
Debt Instrument [Line Items]
Long term debt	86,435	86,708
Mortgage premiums	1,834	2,074
Net unamortized deferred financing costs	(250)	(271)
Total mortgage notes payable	$ 88,019	88,511
Notes Payable \| Casitas Plaza Shopping Center
Debt Instrument [Line Items]
Interest rate (percentage)	5.32%
Long term debt	$ 7,081	7,158
Notes Payable \| Riverstone Marketplace
Debt Instrument [Line Items]
Interest rate (percentage)	4.96%
Long term debt	$ 17,854	18,050
Notes Payable \| Fullerton Crossroads
Debt Instrument [Line Items]
Interest rate (percentage)	4.728%
Long term debt	$ 26,000	26,000
Notes Payable \| Diamond Hills Plaza
Debt Instrument [Line Items]
Interest rate (percentage)	3.55%
Long term debt	$ 35,500	$ 35,500

Mortgage Notes Payable, Credit Facilities and Senior Notes (Carrying Value of Debt) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Nov. 10, 2017	Jul. 26, 2016	Sep. 29, 2015	Dec. 03, 2014	Dec. 09, 2013
Debt Instrument [Line Items]
Credit facility	$ 149,120,000	$ 153,689,000
Senior Notes	942,145,000	941,449,000
Term Loan Agreement
Debt Instrument [Line Items]
Principal amount	300,000,000	300,000,000			$ 300,000,000.0
Net unamortized deferred financing costs	(799,000)	(924,000)
Term loan	299,201,000	299,076,000
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility	151,000,000	156,000,000
Net unamortized deferred financing costs	(1,880,000)	(2,311,000)
Credit facility	149,120,000	153,689,000
Senior Notes \| Senior Notes Due 2027
Debt Instrument [Line Items]
Principal amount	250,000,000	250,000,000	$ 250,000,000.0
Net unamortized deferred financing costs	(1,061,000)	(1,123,000)
Senior Notes	248,939,000	248,877,000
Senior Notes \| Senior Notes Due 2026
Debt Instrument [Line Items]
Principal amount	200,000,000	200,000,000		$ 200,000,000.0
Net unamortized deferred financing costs	(205,000)	(219,000)
Senior Notes	199,795,000	199,781,000
Senior Notes \| Senior Notes Due 2024
Debt Instrument [Line Items]
Principal amount	250,000,000	250,000,000				$ 250,000,000.0
Unamortized debt discount	(2,084,000)	(2,252,000)
Net unamortized deferred financing costs	(1,204,000)	(1,314,000)
Senior Notes	246,712,000	246,434,000
Senior Notes \| Senior Notes Due 2023
Debt Instrument [Line Items]
Principal amount	250,000,000	250,000,000					$ 250,000,000.0
Unamortized debt discount	(2,129,000)	(2,339,000)
Net unamortized deferred financing costs	(1,172,000)	(1,304,000)
Senior Notes	$ 246,699,000	$ 246,357,000

Preferred Stock of ROIC (Details Textual) - shares	Jun. 30, 2019	Dec. 31, 2018
Equity [Abstract]
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares outstanding (in shares)	0	0

Common Stock of ROIC (Details Textual)		6 Months Ended		14 Months Ended
Common Stock of ROIC (Details Textual)	May 01, 2018 USD ($) agreement $ / shares	Jun. 30, 2019 USD ($) $ / shares shares	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) $ / shares shares	Dec. 31, 2018 $ / shares	Jul. 31, 2013 USD ($)
Class of Stock [Line Items]
Common stock, par value (in dollars per share) \| $ / shares		$ 0.0001		$ 0.0001	$ 0.0001
Proceeds from the sale of common stock		$ 0	$ 1,508,000
Registration expenditures		$ 65,000	$ 118,000
Stock repurchase program, authorized amount						$ 50,000,000.0
Sales Agreement
Class of Stock [Line Items]
Number of sales agreements entered into \| agreement	5
Common stock, par value (in dollars per share) \| $ / shares	$ 0.0001
Common shares that may be sold under a sales agreement, aggregate offering price, maximum	$ 250,000,000.0
Shares sold during the period (shares) \| shares		0		1,251,376
Proceeds from the sale of common stock				$ 24,200,000
Registration expenditures				$ 242,000

Stock Compensation for ROIC (Details Textual) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) $ / shares shares	Jun. 30, 2018 USD ($)	Dec. 31, 2009 shares	Apr. 25, 2018 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense \| $	$ 2.2	$ 2.0	$ 3.9	$ 3.4
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)			354,161
Granted (in dollars per share) \| $ / shares			$ 17.20
LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share) \| $ / shares			$ 16.27
2009 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of outstanding stock maximum (in percentage)					7.50%
Maximum number of shares (in Shares)					4,000,000
Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)						22,500,000
Fungible unit to full value award conversion ratio						6.25
Vesting on January 1, 2022 \| LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)			187,279

Stock Compensation for ROIC (Status of Non-vested Restricted Stock Awards) (Details) - Restricted Stock	6 Months Ended
	Jun. 30, 2019 $ / shares shares
Shares
Beginning balance (shares) \| shares	1,002,835
Granted (shares) \| shares	354,161
Vested (shares) \| shares	(364,913)
Forfeited (shares) \| shares	(35,287)
Ending balance (shares) \| shares	956,796
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) \| $ / shares	$ 16.88
Granted (in dollars per share) \| $ / shares	17.20
Vested (in dollars per share) \| $ / shares	19.06
Forfeited (in dollars per share) \| $ / shares	12.67
Ending balance (in dollars per share) \| $ / shares	$ 16.55

Capital of the Operating Partnership (Details Textual) - USD ($)
$ / shares in Units, $ in Millions

6 Months Ended

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Limited Partners' Capital Account [Line Items]

Partnership units (in shares)

125,714,830

ROIC ownership percentage in ROIP LP

90.90%

Common stock, shares outstanding (in shares)

114,307,789

113,992,837

Equity redemption of OP Units, cash (in shares)

70,000

Equity redemption of OP Units cash dollars

$ 1.2

Common Stock

Limited Partners' Capital Account [Line Items]

Common stock, shares outstanding (in shares)

114,307,789

114,311,788

113,992,837

112,719,459

112,721,459

112,347,451

OP Units

Limited Partners' Capital Account [Line Items]

Non-controlling interest redemption value

$ 196.5

Redemption value (usd per share)

$ 17.23

Limited Partner’s Capital | Retail Opportunity Investments Partnership L.P.

Limited Partners' Capital Account [Line Items]

Partnership units (in shares)

^[1]

11,407,041

11,477,041

11,648,102

11,678,991

[1]	Consists of limited partnership interests held by third parties.

Fair Value of Financial Instruments (Details Textual) $ in Thousands	6 Months Ended
	Jun. 30, 2019 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate cash flow hedge reclassified as non-cash increase to interest expense in the next 12 months	$ 816
Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	4.00%
Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of note payable	$ 87,100
Senior Notes \| Significant Unobservable Inputs (Level 3) \| Senior Notes Due 2027
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long term debt	244,600
Senior Notes \| Significant Unobservable Inputs (Level 3) \| Senior Notes Due 2026
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long term debt	193,300
Senior Notes \| Significant Other Observable Inputs (Level 2) \| Senior Notes Due 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long term debt	254,200
Senior Notes \| Significant Other Observable Inputs (Level 2) \| Senior Notes Due 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long term debt	$ 265,900

Fair Value of Financial Instruments (Interest Rate Swaps) (Details) - Derivatives designed as hedging instruments - Interest Rate Swap Maturing 8/31/2022 $ in Thousands	Jun. 30, 2019 USD ($)
Bank of Montreal
Derivatives, Fair Value [Line Items]
Notional Amount	$ 100,000
U.S. Bank
Derivatives, Fair Value [Line Items]
Notional Amount	100,000
Regions Bank
Derivatives, Fair Value [Line Items]
Notional Amount	50,000
Royal Bank of Canada
Derivatives, Fair Value [Line Items]
Notional Amount	$ 50,000

Fair Value of Financial Instruments (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - Interest Rate Swap - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Derivative [Line Items]
Derivative Asset		$ 4,931
Derivative Liability	$ (3,914)	(580)
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)
Derivative [Line Items]
Derivative Asset		0
Derivative Liability	0	0
Significant Other Observable Inputs (Level 2)
Derivative [Line Items]
Derivative Asset		4,931
Derivative Liability	(3,914)	(580)
Significant Unobservable Inputs (Level 3)
Derivative [Line Items]
Derivative Asset		0
Derivative Liability	$ 0	$ 0

Fair Value of Financial Instruments (Balance Sheet Classification) (Details) - Derivatives designed as hedging instruments - Interest Rate Swap - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Other assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	$ 0	$ 4,931
Other Liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Liability	$ (3,914)	$ (580)

Fair Value of Financial Instruments (Location of Gain or Loss on Interest Rate Derivatives Designated as Cash Flow Hedges) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Amount of (loss) gain recognized in OCI on derivatives	$ (4,815)	$ 1,397	$ (7,423)	$ 4,787
Amount of loss (gain) reclassified from AOCI into interest	$ 263	$ (174)	$ 465	$ (592)

Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended		28 Months Ended
	Sep. 30, 2013	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2017
Income Tax Contingency [Line Items]
Operating lease, weighted average remaining lease term		37 years 10 months 24 days		37 years 10 months 24 days
Operating lease, weighted average discount rate, percent		5.20%		5.20%
Operating lease, rent expense		$ 394	$ 393	$ 806	$ 771
Tax protection agreements period (in years)						10 years
Litigation settlement, amount awarded to other party		1,400
Litigation settlement expense		$ 950		$ 950
Terranomics Crossroads Associates LP Member and SARM Five Points LLC
Income Tax Contingency [Line Items]
Tax protection agreements period (in years)	12 years

Commitments and Contingencies (Future Minimum Annual Lease Payments Under Operating Leases) (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Future Minimum Annual Lease Payments
Remaining 2019	$ 641
2020	1,287
2021	1,282
2022	1,304
2023	1,330
Thereafter	33,939
Total undiscounted future minimum lease payments	39,783
Future minimum lease payments, discount	(21,932)
Lease liability	$ 17,851

Related Party Transactions (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
General and Administrative Expense \| Related Party Lease Agreements
Related Party Transaction [Line Items]
SG&A expense	$ 21	$ 19	$ 42	$ 34

Subsequent Events (Details Textual) - $ / shares		3 Months Ended		6 Months Ended
Subsequent Events (Details Textual) - $ / shares	Jul. 24, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Subsequent Event [Line Items]
Dividend declared (usd per share)		$ 0.1970	$ 0.1950	$ 0.394	$ 0.3900
Subsequent Event
Subsequent Event [Line Items]
Dividend declared (usd per share)	$ 0.1970