Welcome to our dedicated page for RPT Realty news (Ticker: RPT), a resource for investors and traders seeking the latest updates and insights on RPT Realty 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.
In Q3 2022, RPT Realty reported a net income of $11.3 million ($0.13/share), down from $24 million ($0.29/share) in Q3 2021. Operating FFO increased to $25.2 million ($0.27/share). The company raised its 2022 operating FFO guidance to $1.02-$1.05/share. Same property NOI grew 1.6% YoY. The leased rate reached 94.0%, with 696,725 square feet signed in Q3. RPT closed $658.5 million in investments YTD, including a significant acquisition in Miami. The company maintains a strong balance sheet with no debt maturing until 2025, and a $810 million credit facility secured.
RPT Realty (NYSE:RPT) has declared a fourth quarter 2022 cash dividend of $0.13 per common share and $0.90625 per Series D convertible preferred share. These dividends cover the period from October 1 to December 31, 2022, payable on January 3, 2023 to shareholders on record as of December 20, 2022. As of June 30, 2022, RPT’s portfolio includes 47 wholly-owned shopping centers, totaling 14.9 million square feet of leasable area, with 93.3% leased occupancy, reflecting solid operational performance.
RPT Realty (NYSE:RPT) announced that its third quarter 2022 earnings press release will be released after market close on November 2, 2022. A conference call to discuss financial results will be held on November 3, 2022, at 10:00 AM ET. Interested parties can access a live webcast on the company's website or join by phone. The company manages a portfolio of 47 shopping centers with a pro-rata occupancy rate of 93.3% as of June 30, 2022.
RPT Realty (NYSE:RPT) has secured an $810 million amended and restated unsecured credit facility, increasing its capacity by $150 million. The facility includes a $500 million revolving credit line maturing in 2026 and $310 million in term loans. Unique features consist of an accordion option to expand capacity to $1.25 billion and a sustainability-linked pricing structure. Post-transaction, RPT will have no debt maturing through 2024, enhancing its financial stability. The company operates a portfolio of 47 shopping centers across the U.S., with a leasing rate of 93.3% as of June 30, 2022.
RPT Realty has acquired Mary Brickell Village in Miami for $216 million. This grocery-anchored mixed-use center spans 200,000 square feet and offers significant vertical development potential, allowing for up to 4.1 million additional square feet. MBV is strategically located in a dense, high-traffic area with over 265,000 monthly visits and high tenant sales averaging $1,100 per square foot. Currently 78% occupied, it presents considerable upside through signed leases and contractual rent growth. This acquisition enhances RPT's portfolio and aligns with its growth strategy.
RPT Realty reported a second quarter 2022 net income of $5.1 million, a significant decrease from $34.7 million in 2021. However, funds from operations (FFO) rose 22.7% year-over-year, driven by acquisitions and a 4.4% increase in same property net operating income (NOI). The company made substantial investments, totaling $652.7 million YTD, including the $216 million acquisition of Mary Brickell Village. RPT's annualized base rent (ABR) exposure rose by 17%. The firm also secured an $810 million credit facility, enhancing its financial position.
RPT Realty (NYSE:RPT) has declared a cash dividend of $0.13 per common share for Q3 2022, payable on October 3, 2022, to shareholders of record on September 20, 2022. Additionally, a dividend of $0.90625 per Series D convertible preferred share has been approved. The dividends cover the period from July 1 to September 30, 2022. RPT Realty manages a portfolio of 47 shopping centers and 40 retail properties, with a pro-rata share of their portfolio being 93.2% leased as of March 31, 2022.
RPT Realty (NYSE:RPT) announced that Brian Harper, President and CEO, will present at Nareit’s REITweek: 2022 Investor Conference on June 8, 2022, at 3:30 p.m. ET. The presentation will be accessible via a live webcast on the Company's website, with a replay available for 30 days post-event. As of March 31, 2022, RPT Realty's portfolio consists of 47 wholly-owned shopping centers and additional properties, totaling 14.6 million square feet and 93.2% leased, reflecting the Company's commitment to delivering diverse consumer experiences in prime U.S. markets.
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