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The Necessity Retail REIT, Inc. - RTL STOCK NEWS

Welcome to our dedicated page for The Necessity Retail REIT news (Ticker: RTL), a resource for investors and traders seeking the latest updates and insights on The Necessity Retail REIT stock.

The Necessity Retail REIT, Inc. (Nasdaq: RTL), is a leading publicly traded real estate investment trust (REIT) focused on acquiring and managing a diversified portfolio of necessity-based retail properties in the United States. The company specializes in single-tenant and open-air shopping center properties, primarily encumbered by long-term triple net leases with creditworthy tenants.

With a mission to secure stable, long-term cash flows, RTL's portfolio as of June 30, 2023, comprised 991 net leased properties across 46 states and the District of Columbia, totaling approximately 27.4 million rentable square feet. The company's disciplined investment strategy prioritizes high-traffic locations and essential retail services, ensuring resilience against economic fluctuations.

Recent achievements include executing over 700,000 square feet of leasing and completing a strategic $93 million disposition to reduce exposure to the casual dining sector, underscoring RTL's proactive asset management approach. Financially, RTL reported a net debt reduction of $74 million since the end of the first quarter of 2023, reflecting its robust operational performance and strategic financial management.

RTL is currently navigating a merger with Global Net Lease, Inc. (NYSE: GNL), aiming to create the third-largest listed net lease REIT globally. This merger is expected to enhance governance, provide greater access to capital, and contribute to earnings accretion in the first quarter post-closing. The company's comprehensive risk management practices and focus on essential retail properties position it as a stable and attractive investment in the REIT sector.

For more information and the latest updates, investors can visit the company's website at www.necessityretailreit.com.

Rhea-AI Summary
Global Net Lease and Necessity Retail REIT have completed their merger, creating the third-largest net lease REIT with over 1,300 properties and a global presence. RTL stockholders received 0.670 shares of GNL for each RTL common share. GNL expects to benefit from enhanced governance attributes and a larger asset base, enabling growth and value creation.
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Orange Capital opposes the proposed merger of GNL and RTL, citing lack of financial and strategic value and erosion of shareholder value. They highlight critical facts about the Advisory Agreement and the internalization fee payable to AR Global. Orange Capital believes an Independent COC would save shareholders over $2.70 per GNL share and result in zero NAV dilution. They question GNL's failure to reference comparable internalization transactions and the leverage of termination clauses in the Advisory Agreement. They also raise concerns about the GNL Board's process, the necessity of the merger, and the commitment to governance enhancements. ISS and Glass Lewis recommend shareholders vote against the merger. Orange Capital criticizes the payment to Blackwells and urges their views to be disregarded. They intend to vote against the merger.
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Blackwells Capital reiterates support for proposed combination of GNL and RTL, estimating over $75 million in annual savings and improved corporate governance. Expects merged entity to command a premium valuation as a $10 billion REIT platform. Blackwells will vote in favor of the merger.
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Global Net Lease, Inc. (GNL) will host a conference call to discuss the proposed merger with The Necessity Retail REIT, Inc. (RTL) and the internalization of advisory and property management functions. ISS has issued a corrected report acknowledging its error in analyzing the transaction. The merger is expected to enhance corporate governance, improve AFFO payout ratio, increase size and scale, reduce leverage, and provide overall benefits.
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Highlights Efficiencies, Scale and Significant Governance Overhauls Nominated Directors of GNL and RTL Were Re-Elected by Shareholders Following the Merger Announcement with 85% GNL Shareholder Participation and 75% RTL Shareholder Participation in 2023 Annual Meeting Boards Recommend Stockholders to Vote 'FOR' proposals at Special Meetings on September 8, 2023
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Global Net Lease, Inc. (NYSE: GNL) announced its financial and operating results for the quarter ended June 30, 2023, including a merger agreement with The Necessity Retail REIT, Inc. Revenue was $95.8 million, with a net loss of $31.4 million. The company's portfolio of 317 net lease properties is located in eleven countries and territories, and is comprised of 39.6 million rentable square feet leased to 139 tenants across 52 industries. As of June 30, 2023, the company had liquidity of $374.1 million, including $100.9 million of cash and cash equivalents and $273.2 million of availability under the Company's revolving credit facility.
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The Necessity Retail REIT, Inc. will release its financial results for Q2 2023 on August 2, 2023. A conference call and webcast will be held on August 3, 2023, to discuss the results and provide business performance commentary.
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FAQ

What is the market cap of The Necessity Retail REIT (RTL)?

The market cap of The Necessity Retail REIT (RTL) is approximately 1.1B.

What does The Necessity Retail REIT, Inc. specialize in?

The Necessity Retail REIT, Inc. specializes in acquiring and managing necessity-based retail properties, including single-tenant and open-air shopping centers across the U.S.

How many properties are in RTL's portfolio?

As of June 30, 2023, RTL's portfolio consisted of 991 net leased properties, totaling approximately 27.4 million rentable square feet.

What is the focus of RTL’s investment strategy?

RTL's investment strategy focuses on high-traffic locations and essential retail services, ensuring stable, long-term cash flows and resilience against economic fluctuations.

What are some recent achievements of RTL?

Recent achievements include over 700,000 square feet of new leasing, a $93 million strategic disposition to reduce casual dining exposure, and a $74 million reduction in net debt.

What is the significance of RTL's merger with Global Net Lease, Inc.?

The merger with Global Net Lease, Inc. aims to create the third-largest listed net lease REIT globally, enhancing governance, capital access, and earnings accretion post-merger.

How does RTL manage financial risk?

RTL manages financial risk through disciplined asset management, strategic dispositions, and maintaining a balanced portfolio of high-credit tenants and essential retail properties.

Where can investors find more information about RTL?

Investors can find more information and the latest updates on RTL's website at www.necessityretailreit.com.

What was RTL’s strategy during the recent economic slowdown?

During the economic slowdown, RTL focused on necessity-based retail properties, strategic dispositions, and reducing portfolio exposure to vulnerable sectors like casual dining.

How has RTL's financial performance been recently?

RTL reported a reduction of $74 million in net debt since the end of Q1 2023, reflecting strong operational performance and strategic financial management.

What makes RTL a stable investment choice?

RTL's focus on high-traffic, essential retail locations, long-term leases with creditworthy tenants, and strategic financial management make it a stable and attractive investment.

The Necessity Retail REIT, Inc.

Nasdaq:RTL

RTL Rankings

RTL Stock Data

1.09B
132.97M
0.59%
58.29%
2.59%
REIT - Diversified
Real Estate
Link
United States
New York