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.
The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) announced property sales totaling $72.4 million in 2023, with additional planned sales of $5.4 million and $103.7 million from properties under agreements. This brings the total to $181.5 million in property sales expected to be directed towards debt repayment. CEO Michael Weil emphasized the company's focus on reducing leverage and executing its disposition strategy following $1.4 billion in acquisitions last year. The announcement underlines RTL's commitment to its business strategy amidst ongoing market challenges.
The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) announced that CEO Michael Weil will participate in a fireside chat at Nareit's REITweek 2023 Investor Conference on June 7, 2023, at 11:45 a.m. ET in New York. The event will take place at the Hilton Midtown hotel. This conference runs from June 6 to June 8, 2023, where the Company will also hold meetings with the investment community. RTL focuses on necessity-based retail properties across the U.S. As a publicly traded REIT, it operates primarily in single-tenant locations and open-air shopping centers.
For more information about RTL, visit www.necessityretailreit.com.
The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) announced significant leasing activity for the quarter ending March 31, 2023. The company completed 996,000 square feet of multi-tenant leasing, signing 26 new leases totaling 274,000 square feet with over $4 million in annualized straight-line rent, and 44 lease renewals for over 722,000 square feet generating more than $7 million in annualized rent. CEO Michael Weil noted continued success in asset management and strong interest from quality tenants, reinforcing expectations for leasing momentum through the year.
The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) has announced it will release its Q1 2023 financial results on May 10, 2023, prior to Nasdaq trading. A conference call will follow at 11:00 a.m. ET the same day, where management will discuss results and business performance, with a Q&A session for analysts and investors. Interested parties can access the call via the company's website. The REIT focuses on acquiring and managing necessity-based retail properties across the U.S. This announcement highlights RTL's ongoing communication efforts with investors amid challenging economic conditions.
Blackwells Capital has called for urgent boardroom changes at The Necessity Retail REIT (NASDAQ: RTL), citing arbitrary financial management and self-dealing by its advisor, AR Global. Since RTL's IPO in 2018, shareholders have experienced dilutive stock offerings totaling
Blackwells urges shareholders to support its WHITE Universal Proxy Card for the election of two independent director candidates and proposed governance reforms. The firm asserts that the current board has failed to protect shareholder interests and that substantial changes are necessary to restore value.
The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) has announced a quarterly dividend of $0.2125 per share of Class A common stock. This dividend will be paid on April 17, 2023, to stockholders of record as of April 13, 2023. The company focuses on acquiring and managing a diverse portfolio of retail and distribution-related real estate properties across the U.S., aiming to provide income for its investors.
The Necessity Retail REIT, Inc. (Nasdaq: RTL, RTLPO, RTLPP) announced quarterly dividends for its preferred stock on March 27, 2023. The company declared a dividend of $0.46875 per share on its 7.50% Series A Preferred Stock and $0.4609375 per share on its 7.375% Series C Preferred Stock. Both dividends are payable on April 17, 2023, to shareholders on record as of the close of business on April 6, 2023. This announcement emphasizes RTL's commitment to rewarding its investors through consistent dividend payments.
The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) announced the sale of four properties leased to Stop & Shop for $70 million, located in Massachusetts and Rhode Island. CEO Michael Weil emphasized the sale reflects their strategy to dispose of fully valued assets. The proceeds will be used to further reduce debt, supporting their leverage reduction initiative. The company aims to optimize its balance sheet while pursuing additional strategic sales. This disposition aligns with their goal of maintaining a diversified portfolio focused on necessity-based retail properties in the U.S.
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