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.
RPT Realty (NYSE:RPT) announced it will release its Q2 2022 earnings on August 3, 2022, after market close. A conference call to discuss financial results will be held on August 4, 2022, at 9:00 AM ET. Interested parties can join via a live webcast on the company’s website or by phone. Additionally, a replay of the call will be available until August 11, 2022. RPT Realty operates a national portfolio of open-air shopping centers with a total of 14.6 million square feet of gross leasable area, 93.2% of which was leased as of March 31, 2022.
RPT Realty reported a net income of $4.1 million, or $0.05 per diluted share, for Q1 2022, down from $15.2 million, or $0.19 per diluted share, year-over-year. Operating funds from operations (FFO) per diluted share rose 36.8% to $0.26, driven by acquisitions and increased management fees. The company acquired The Crossings shopping center for $104 million, elevating Boston as its second-largest market. RPT raised its 2022 operating FFO guidance to $1.01-$1.05 per share, with same-property NOI growth at 9.9%. Leases signed totaled 716,317 square feet, marking the highest quarterly volume since Q1 2010.
RPT Realty (NYSE:RPT) has declared a regular cash dividend of $0.13 per common share for the second quarter of 2022. Additionally, a dividend of $0.90625 per share on Series D convertible preferred shares has been approved. Both dividends cover the period from April 1, 2022, to June 30, 2022, and are payable on July 1, 2022, to shareholders of record as of June 17, 2022. RPT Realty operates open-air shopping destinations across key U.S. markets, owning 47 wholly-owned shopping centers among its extensive portfolio.
RPT Realty (NYSE:RPT) has acquired The Crossings shopping center in Portsmouth, NH, for $104 million. This 510,000 sq. ft. open-air center is 95% occupied and anchored by Trader Joe’s and Aldi. It houses tenants like Dick’s, Best Buy, and Kohl’s, with an average tenant tenure of 22 years. The acquisition aligns with RPT's strategy to enhance returns and expand its presence in the Boston market, now its second-largest revenue contributor. The deal is expected to deliver 8%-10% unlevered IRRs.
RPT Realty, a real estate investment trust, has been honored as one of the Best Places to Work in Commercial Real Estate by Globe St. This recognition highlights RPT's commitment to employee development, workplace culture, and diversity initiatives. CEO Brian Harper emphasized the company's focus on long-term success for its employees and mission-driven ESG initiatives since the new management took over in 2018. The firm prioritizes inclusivity, forming a DE&I Committee to support underrepresented groups in real estate.
RPT Realty (NYSE:RPT) will announce its Q1 2022 earnings on May 4, 2022, after market close. A conference call is scheduled for May 5, 2022, at 10:00 AM ET to discuss financial results. Investors can access the call via a live webcast on the company’s website or through a dedicated phone line. The company operates a portfolio of 47 shopping centers, totaling 14.6 million square feet of gross leasable area, with a 93.1% leasing rate as of December 31, 2021.
RPT Realty (NYSE:RPT) announced that its President and CEO, Brian Harper, will present at the 2022 Citi Global Property CEO Conference on March 7, 2022, at 4:15 PM ET in Hollywood, FL. A live webcast of the presentation will be accessible on the Company's website. Additionally, an updated 4Q21 Investor Presentation will be available prior to the conference. RPT Realty operates a national portfolio of open-air shopping centers, with 47 wholly-owned and 49 joint venture properties totaling 14.6 million square feet of gross leasable area as of December 31, 2021.
RPT Realty (NYSE:RPT) reported a net loss of $12.0 million for Q4 2021, a decrease from a loss of $7.4 million in Q4 2020. However, the company posted a net income of $61.9 million for the full year, compared to a loss of $16.9 million in 2020. The Board declared an 8% increase in the Q1 2022 cash dividend to $0.13 per share, payable on April 1, 2022. FFO was $0.25 per diluted share for Q4 2021, up 38.9% year-over-year. The same property NOI grew 12.4% in Q4 and 6.3% for the full year. The company closed $791 million in investments, shifting focus to high-growth markets.
RPT Realty (NYSE:RPT) announced an 8% increase in its first quarter 2022 cash dividend to $0.13 per common share, payable on April 1, 2022, for shareholders of record by March 18, 2022. Additionally, the Series D convertible preferred share dividend is set at $0.90625 per share. As of September 30, 2021, RPT's aggregate portfolio included 57 shopping centers and 30 net lease properties, with a pro-rata share of 92.5% leased, representing 14.0 million square feet of gross leasable area.
RPT Realty (NYSE:RPT) announced tax reporting details for its 2021 dividend distributions. The preferred share distribution from January 4, 2021, will be accounted for in 2021, while the common and preferred share distributions from January 3, 2022, will apply to 2022. The total ordinary dividend for common shares is $0.053539 per share, while for preferred shares, it's $3.625000 per share. Investors are advised to consult tax professionals regarding the treatment of these distributions on their federal income taxes.
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