Retail Opportunity Investments Lifts FY13 FFO View - Quick Facts

(RTTNews) - Retail Opportunity Investments Corp. (ROIC) said it currently expects that funds from operations for 2013 will be within the range of $0.99 to $1.04 per share, and net income will be within the range of $0.35 to $0.37 per share. While announcing the second-quarter result, the company had expected FFO to be in the range of $0.77 to $0.82 per share and net income of $0.14 to $0.16 per share for fiscal 2013.

In connection with its recent acquisitions, including the remaining 51% interest in Crossroads Shopping Center, the company expects to recognize income from certain one-time items, including a preferred return and a gain on consolidation of the Crossroads' joint venture, off-set by certain transaction and financing expenses.

The company announced that during the third quarter of 2013, the company committed $186.2 million in shopping center acquisitions. It acquired three grocery-anchored shopping centers, in separate transactions, totaling $153.7 million, and currently has a binding contract to acquire a fourth grocery-anchored shopping center for $32.5 million.