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.
Blackwells Capital has released a presentation for shareholders of Global Net Lease (GNL) and Necessity Retail REIT (RTL), highlighting concerns about the company's external manager, AR Global. The presentation claims that AR Global's mismanagement has led to losses of $838 million for GNL and RTL shareholders. Blackwells proposes to eliminate these management agreements and has outlined a plan to enhance shareholder value, including installing new directors and creating committees aimed at improving corporate governance. The initiative aims to address perceived undervaluation and management issues affecting GNL and RTL.
The Necessity Retail REIT (Nasdaq: RTL) reported a 33% revenue growth year-over-year to $446.4 million for the year ended December 31, 2022. Despite this increase, the company faced a net loss of $105.9 million or $0.81 per share. Cash Net Operating Income rose 24% to $332.6 million, while Funds from Operations (FFO) increased 31.8% to $125.6 million. The company successfully executed 83 new leases, enhancing its portfolio occupancy to 89.8%. In 2022, RTL acquired 95 properties for $1.4 billion, focusing on necessity retail spaces.
The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) announced it will disclose its fourth quarter and full year financial results for 2022 on February 22, 2023, post-market hours. A conference call will follow on February 23, 2023, at 11:00 a.m. ET, featuring management commentary and a Q&A session with analysts and investors.
The REIT focuses on necessity-based retail properties across the U.S. with a diversified portfolio strategy. Forward-looking statements highlight potential risks, including COVID-19 impacts and geopolitical tensions affecting operations.
The Necessity Retail REIT, Inc. (Nasdaq: RTL/ RTLPO/ RTLPP) announced it will pay a quarterly dividend of $0.2125 per share on January 17, 2023, to shareholders recorded by January 13, 2023. This dividend reflects an annualized rate of $0.85 per share, continuing its commitment to returning value to investors. Payments will occur on the 15th of the month following each fiscal quarter’s end. The company remains focused on managing a portfolio of retail and distribution properties across the U.S.
The Necessity Retail REIT, Inc. (Nasdaq: RTL/ RTLPO / RTLPP) announced the closing of four property sales totaling $1.6 million and expects to finalize an additional $72.8 million in Q4 2022. By year-end, the company will have disposed of 27 properties for a total of $405.4 million. Furthermore, RTL signed over two million square feet of new and renewal leases in 2022, emphasizing its strategic growth. CEO Michael Weil highlighted the potential use of proceeds for debt repayment and anticipated further disposals in early 2023.
The Necessity Retail REIT, Inc. (Nasdaq: RTL/ RTLPP / RTLPO) announced it will continue quarterly dividends on its 7.50% Series A Cumulative Redeemable Perpetual Preferred Stock at an annualized rate of $1.875 per share. A dividend of $0.46875 per share is set for payment on January 17, 2023, to Series A Preferred Stock holders of record by January 6, 2023. This consistent dividend policy reflects RTL's commitment to shareholder returns.
The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) announced a quarterly dividend of $0.4609375 per share on its 7.375% Series C Cumulative Redeemable Perpetual Preferred Stock. This dividend, totaling $1.84375 annually, will be paid on January 17, 2023 to holders of record as of January 6, 2023. The company continues its commitment to shareholder returns amidst market uncertainties, including impacts from the COVID-19 pandemic and geopolitical tensions.
The Necessity Retail REIT (Nasdaq: RTL) reported a 26.4% revenue increase to $116.2 million for Q3 2022, up from $91.9 million in Q3 2021. Despite this growth, net loss attributable to common stockholders surged to $56.5 million compared to $6.4 million the previous year. Cash net operating income rose 12.3% to $85.0 million. Funds from Operations (FFO) decreased to $0.22 per share from $0.25, while Adjusted Funds from Operations (AFFO) fell to $34.2 million, down from $36.4 million, although AFFO per share grew 18% compared to Q4 2021. The company executed over 1 million square feet in leases.
The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) announced its financial results for Q3 2022 will be released on November 2, 2022, post-market close. A conference call to discuss these results is scheduled for November 3, 2022, at 11:00 a.m. ET, which will include a Q&A session. RTL focuses on necessity-based retail properties across the U.S., aiming to provide insights into its investment strategy and business performance. More information can be found on their official website.
The Necessity Retail REIT announced a **quarterly dividend** of **$0.2125** per share of Class A common stock for Q4 2022, set for payment on **October 17, 2022**. Shareholders on record by **October 13, 2022** will receive the payment. This dividend reflects an annualized rate of **$0.85** per share. The REIT focuses on a diversified portfolio primarily consisting of service-oriented and traditional retail properties in the U.S.
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