Rithm Property Trust Inc. Stock Price, News & Analysis

RPT Realty has acquired Mary Brickell Village in Miami for $216 million. This grocery-anchored mixed-use center spans 200,000 square feet and offers significant vertical development potential, allowing for up to 4.1 million additional square feet. MBV is strategically located in a dense, high-traffic area with over 265,000 monthly visits and high tenant sales averaging $1,100 per square foot. Currently 78% occupied, it presents considerable upside through signed leases and contractual rent growth. This acquisition enhances RPT's portfolio and aligns with its growth strategy.

RPT Realty (NYSE:RPT) has declared a cash dividend of $0.13 per common share for Q3 2022, payable on October 3, 2022, to shareholders of record on September 20, 2022. Additionally, a dividend of $0.90625 per Series D convertible preferred share has been approved. The dividends cover the period from July 1 to September 30, 2022. RPT Realty manages a portfolio of 47 shopping centers and 40 retail properties, with a pro-rata share of their portfolio being 93.2% leased as of March 31, 2022.

RPT Realty (NYSE:RPT) announced that Brian Harper, President and CEO, will present at Nareit’s REITweek: 2022 Investor Conference on June 8, 2022, at 3:30 p.m. ET. The presentation will be accessible via a live webcast on the Company's website, with a replay available for 30 days post-event. As of March 31, 2022, RPT Realty's portfolio consists of 47 wholly-owned shopping centers and additional properties, totaling 14.6 million square feet and 93.2% leased, reflecting the Company's commitment to delivering diverse consumer experiences in prime U.S. markets.

RPT Realty (NYSE:RPT) announced it will release its Q2 2022 earnings on August 3, 2022, after market close. A conference call to discuss financial results will be held on August 4, 2022, at 9:00 AM ET. Interested parties can join via a live webcast on the company’s website or by phone. Additionally, a replay of the call will be available until August 11, 2022. RPT Realty operates a national portfolio of open-air shopping centers with a total of 14.6 million square feet of gross leasable area, 93.2% of which was leased as of March 31, 2022.

RPT Realty reported a net income of $4.1 million, or $0.05 per diluted share, for Q1 2022, down from $15.2 million, or $0.19 per diluted share, year-over-year. Operating funds from operations (FFO) per diluted share rose 36.8% to $0.26, driven by acquisitions and increased management fees. The company acquired The Crossings shopping center for $104 million, elevating Boston as its second-largest market. RPT raised its 2022 operating FFO guidance to $1.01-$1.05 per share, with same-property NOI growth at 9.9%. Leases signed totaled 716,317 square feet, marking the highest quarterly volume since Q1 2010.

RPT Realty (NYSE:RPT) has declared a regular cash dividend of $0.13 per common share for the second quarter of 2022. Additionally, a dividend of $0.90625 per share on Series D convertible preferred shares has been approved. Both dividends cover the period from April 1, 2022, to June 30, 2022, and are payable on July 1, 2022, to shareholders of record as of June 17, 2022. RPT Realty operates open-air shopping destinations across key U.S. markets, owning 47 wholly-owned shopping centers among its extensive portfolio.

RPT Realty (NYSE:RPT) has acquired The Crossings shopping center in Portsmouth, NH, for $104 million. This 510,000 sq. ft. open-air center is 95% occupied and anchored by Trader Joe’s and Aldi. It houses tenants like Dick’s, Best Buy, and Kohl’s, with an average tenant tenure of 22 years. The acquisition aligns with RPT's strategy to enhance returns and expand its presence in the Boston market, now its second-largest revenue contributor. The deal is expected to deliver 8%-10% unlevered IRRs.

RPT Realty, a real estate investment trust, has been honored as one of the Best Places to Work in Commercial Real Estate by Globe St. This recognition highlights RPT's commitment to employee development, workplace culture, and diversity initiatives. CEO Brian Harper emphasized the company's focus on long-term success for its employees and mission-driven ESG initiatives since the new management took over in 2018. The firm prioritizes inclusivity, forming a DE&I Committee to support underrepresented groups in real estate.