Welcome to our dedicated page for Rithm Property Trust news (Ticker: RPT), a resource for investors and traders seeking the latest updates and insights on Rithm Property Trust stock.
RPT Realty (RPT) is a prominent player in the commercial real estate sector, specializing in the ownership and operation of open-air shopping centers across major U.S. markets. These centers provide diverse and locally-curated retail experiences, tailored to reflect the lifestyles of the surrounding communities while meeting the modern expectations of their retail partners.
As a fully integrated and self-administered Real Estate Investment Trust (REIT), RPT Realty is publicly traded on the New York Stock Exchange under the ticker symbol RPT. The company's common shares, with a par value of $0.01 per share, are actively traded, making it a significant entity in the stock market.
As of June 30, 2020, RPT Realty's portfolio comprised 49 shopping centers, including five owned through joint ventures, covering a total gross leasable area of 11.9 million square feet. Impressively, the company's pro-rata share of the aggregate portfolio boasts a high occupancy rate of 93.6%, signaling robust tenant demand and effective property management.
RPT Realty continues to focus on enhancing the consumer experience through strategic partnerships and innovative projects, ensuring that their properties remain top choices for both retailers and customers. The company's commitment to quality and community-centered retail environments underscores its significance in the real estate market.
RPT Realty (NYSE:RPT) will release its Q1 2023 earnings on May 3, 2023, post-market closure. A conference call is scheduled for May 4, 2023, at 9:00 AM ET to discuss financial results and operations. Investors can access a live webcast on the Company’s website or join via phone. RPT Realty operates a national portfolio of open-air shopping centers, with a total of 44 wholly-owned properties and a pro-rata leased share of 93.8% as of December 31, 2022. This portfolio comprises 15.0 million square feet of gross leasable area, reflecting RPT's commitment to meeting modern retail needs.
RPT Realty (NYSE:RPT) announced the appointment of Amy Sands as Executive Vice President, Head of Investments, effective May 8, 2023. This strategic hire aims to consolidate the Company's investment activities, enhancing operational efficiency across its grocery-anchored joint venture and retail net lease platforms. With over $1.7 billion in remaining committed capital, RPT anticipates significant growth opportunities. Sands brings 20 years of real estate experience, including leading retail investment sales at JLL, where she oversaw over $10 billion in transactions. This leadership change supports RPT's evolving strategy in the competitive real estate market.
On March 2, 2023, RPT Realty (NYSE:RPT) announced that CEO Brian Harper will speak at the U.S. Strip Center panel during the Citi 2023 Global Property CEO Conference in Hollywood, FL, on March 7 at 3:40 PM ET. A live webcast of the event will be accessible via the company’s website. Replays will be available 12 hours post-event and can be accessed for one year. The company will also present an updated Investor Presentation before the conference begins. RPT Realty operates a national portfolio of shopping centers, with a total gross leasable area of 15.0 million square feet and a pro-rata share of 93.8% leased as of December 31, 2022.
RPT Realty reported a strong performance for Q4 and full-year 2022, highlighting a net income of $56.8 million for Q4 and $77.3 million for the full year, marking increases from 2021. The company declared a Q1 2023 cash dividend of $0.14 per share, an 8% increase year-over-year. Notable operational metrics include a leased rate of 93.8% and significant leasing volume of 2,208,591 square feet for the year. The company's FFO per diluted share was $1.04. Management expressed confidence in future growth with a solid balance sheet, while initiating 2023 FFO guidance between $0.97 to $1.01 per share.
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