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 it will continue to pay quarterly dividends on its preferred stocks. The Series A Cumulative Redeemable Perpetual Preferred Stock will provide dividends at an annualized rate of $1.875 per share, equating to $0.46875 quarterly, payable on October 17, 2022. Similarly, the Series C Preferred Stock will yield $1.84375 annually, or $0.4609375 quarterly, also payable on October 17, 2022. Record dates for both dividends are set for October 7, 2022.
The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) announced that CEO Michael Weil will present at the MoneyShow Accredited Investors Virtual Expo from August 9-11, 2022. His presentation, titled How The Retail Renaissance and The Necessity Retail REIT can Add Current Income to Your Portfolio, is scheduled for 3:55 PM Eastern on August 9. Registration for the event is free. The Necessity Retail REIT focuses on acquiring and managing necessity-based retail properties across the U.S.
The Necessity Retail REIT (RTL) reported a strong second quarter for 2022, with revenue increasing by 43.3% to $116.9 million. However, the company experienced a net loss of $56.3 million, compared to a loss of $7.4 million in Q2 2021. Cash net operating income rose 31.9% to $86.3 million, and funds from operations grew 17.4% to $0.27 per share. The company acquired 32 properties for $470.3 million and increased its occupancy rates. RTL will host a webcast on August 4, 2022, to discuss these results.
The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) announced CEO Michael Weil's participation in a video interview and a fireside chat at Nareit's REITweek 2022 Investor Conference, held from June 7 to 9 in New York. During the event, Weil discussed the company's business updates and its first quarter results. Video and audio replays of the discussions can be accessed on RTL's investor relations website. The REIT primarily focuses on acquiring and managing necessity-based retail properties across the U.S.
The Necessity Retail REIT (Nasdaq: RTL) announced the completion of a $1.3 billion acquisition of 81 grocery-anchored shopping centers, boosting its portfolio to over 1,050 properties worth $5.3 billion. Year-to-date, RTL has acquired a total of 93 properties valued at $1.4 billion. The acquisition is intended to enhance tenant diversification and reduce exposure to office spaces, now representing only 1% of rental income. The cash cap rate for the recent acquisitions is 7.24%, contributing to RTL's strategic focus on necessity retail assets.
The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) announced that it will release its second quarter financial results on August 3, 2022, after market close. A conference call is scheduled for August 4, 2022, at 11:00 a.m. ET, where management will discuss these results and the company's performance. Investors can join the call via the RTL website or by dialing in. The company is focused on necessity-based retail properties in the U.S. and provides a diversified portfolio aimed at meeting retail demands.
The Necessity Retail REIT, Inc. (Nasdaq: RTL, RTLPO, RTLPP) announced a quarterly dividend of $0.2125 per share, totaling an annualized rate of $0.85 per share. This dividend is set for payment on July 15, 2022 to stockholders of record as of July 11, 2022. RTL aims to maintain consistent dividend payouts authorized by its board, reflecting its commitment to shareholder returns. The company focuses on a diversified portfolio of retail and distribution-related commercial properties across the U.S.
The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) confirmed its ongoing commitment to quarterly dividends for its preferred stock. The Series A Cumulative Redeemable Perpetual Preferred Stock will yield an annual rate of $1.875 per share, with a payment of $0.46875 on July 15, 2022, for holders on record by July 5, 2022. Similarly, the Series C Preferred Stock will deliver an annual rate of $1.84375, resulting in a $0.4609375 dividend on the same date. This establishes a reliable income stream for investors.
The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) announced that CEO Michael Weil will present at the MoneyShow Virtual Expo on June 22, 2022, at 2:40 PM Eastern. His presentation, titled The Retail Renaissance – Why You Should Consider a REIT Focused on Necessity Retail, will highlight the importance of necessity-based retail properties in the current market. The conference registration is free, and attendees can register through the provided link.
The Necessity Retail REIT, Inc. (Nasdaq: RTL, RTLPO, RTLPP) announced that Jason Slear, Executive Vice President of Acquisitions and Dispositions, participated in two interviews at the ICSC Las Vegas 2022 conference. He discussed the retail landscape's evolution towards an omnichannel approach. Slear highlighted the significant role of RTL's property, construction, and asset management teams in navigating the retail sector's complexities. These insights emphasize RTL's focus on necessity-based retail properties, showcasing its strategic positioning in current market trends.
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