RVI - RVI STOCK NEWS

Retail Value Inc. (NYSE: RVI) announced plans to release its third quarter earnings on November 3, 2021, after market close. The company, which operates in the U.S. and is managed by subsidiaries of SITE Centers Corp., aims to enhance its business value through strategic operations and asset sales. More details about RVI can be found on their official website.

On October 1, 2021, Retail Value Inc. (NYSE: RVI) completed a portfolio sale of five U.S. properties for $264 million. Net proceeds at closing amounted to approximately $242.4 million, which will be utilized for cash dividends on Series A Preferred and Common Shares. The company declared a cash dividend of $190 million on its Series A Preferred Shares, payable on October 6, 2021, and $22.04 per Common Share, payable on October 28, 2021.

On August 27, 2021, Retail Value Inc. (NYSE: RVI) completed the sale of its nine remaining properties in Puerto Rico for approximately $550 million. The net proceeds at closing were about $539 million, which were partially used to fully repay a mortgage balance of $214.5 million. Following this transaction, RVI now owns eight properties in the continental U.S. Goldman Sachs & Co. LLC acted as the financial advisor for this deal.

Retail Value Inc. (NYSE: RVI) reported a net loss of $69.6 million for Q2 2021, compared to a loss of $1.9 million last year. This decline is mainly due to impairment charges and asset sales, despite lower interest expenses. Operating FFO increased to $20.2 million, driven by pandemic-related factors. The leased rate in the Continental U.S. rose to 89.6%, while Puerto Rico's rate improved to 92.2%. The company sold assets for $59.2 million and expects to sell nine more in Puerto Rico for $550 million, further reducing its mortgage loan burden.

On June 3, 2021, Retail Value Inc. (NYSE: RVI) completed the sale of Señorial Plaza in Rio Piedras, PR, for $20.4 million. The net proceeds from this transaction were used to repay existing mortgage debt. Following the sale, RVI now possesses interests in 8 properties in the continental U.S. and 9 properties in Puerto Rico. The company is focused on asset management and sales, aiming to enhance value through its operations.

Retail Value Inc. (NYSE: RVI) reported positive operating results for Q1 2021, netting $3.2 million or $0.15 per share, a significant recovery from a $13.1 million loss in the same period last year. The rise in net income was attributed to lower impairment charges and debt costs, although it was partially offset by decreased rental income due to the COVID-19 pandemic. Operating FFO stood at $18.6 million ($0.89/share), down from $20.3 million. Leased rates dropped slightly to 86.7% in the U.S. and 88.3% in Puerto Rico. The company sold properties for $38.9 million, using proceeds to reduce debt.

On April 21, 2021, Retail Value Inc. (RVI) completed the sale of Uptown Solon in Solon, OH, for $10.1 million. Ninety percent of the net proceeds were allocated to repaying mortgage debt, with the remainder retained as cash. Following this transaction, RVI now holds interests in 8 properties in the continental U.S. and 10 properties in Puerto Rico. This strategic sale is part of RVI's focus on maximizing value through asset operations and sales.

On April 13, 2021, Retail Value Inc. (RVI) completed the sale of Noble Town Center in Jenkintown, PA, for $14 million, using 90% of net proceeds to repay mortgage debt. The remaining proceeds were retained as cash. Following this transaction, RVI now holds interests in 20 properties across the continental U.S. and Puerto Rico, further solidifying its asset portfolio.

Retail Value Inc. (NYSE: RVI) will disclose its first quarter earnings on May 4, 2021, after market close. RVI specializes in asset management in the U.S. and Puerto Rico, aiming to enhance value through operations and asset sales. The company operates under the management of SITE Centers Corp. Additional information can be found on www.retailvalueinc.com.