Rithm Property Trust Inc. Stock Price, News & Analysis

RPT Realty (NYSE:RPT) has acquired Highland Lakes shopping center in Palm Harbor, FL for $15 million. This 82,000 square foot community center, situated in a key market for RPT, aims to enhance occupancy above 95% through a new lease with an investment-grade grocer, replacing a former tenant. The expected yield of the new lease is projected at around 150 basis points above the current market cap rate. This acquisition reflects RPT's strategy to capitalize on localized market opportunities.

RPT Realty (NYSE:RPT) is set to release its fourth quarter 2021 earnings on February 16, 2022, after market close. A conference call will follow on February 17, at 9:00 AM ET, to discuss the results. The company operates a portfolio of open-air shopping centers in prime U.S. markets, with 92.5% of its 14.0 million square feet of gross leasable area leased as of September 30, 2021. Investors can access the earnings webcast on the company's website, with a telephonic replay available through February 24, 2022.

RPT Realty reported a net income of $24.0 million for Q3 2021, or $0.29 per diluted share, a significant improvement from a loss of $(3.6) million in Q3 2020. The company secured $500 million in additional capital from GIC, raising its total commitment to $818.3 million. With acquisitions totaling $499.4 million in 2021, RPT closed on the Dedham shopping center for $131.5 million and sold Market Plaza for $30.2 million. The company raised its 2021 FFO guidance to $0.90 to $0.94 per diluted share.

RPT Realty (NYSE:RPT) announced a fourth quarter 2021 cash dividend of $0.12 per common share and $0.90625 per Series D convertible preferred share. These dividends apply to the period from October 1, 2021 to December 31, 2021 and will be payable on January 3, 2022, for shareholders of record by December 20, 2021. The company, which operates open-air shopping centers with a 92.5% leasing rate, focuses on enhancing community shopping experiences.

RPT Realty (NYSE:RPT) is progressing with its 2021 acquisition strategy, announcing a contract to acquire the Dedham shopping center in Boston for $131.5 million, with RPT's share at $67.7 million. Additionally, they completed the acquisition of Newnan Pavilion in Atlanta for $41.6 million. Currently, RPT has nine shopping centers under contract or closed, totaling approximately $500 million. RPT expects these acquisitions to enhance cash flow and strengthen its market position, especially in Boston, which will become its third-largest market.

RPT Realty (NYSE:RPT) will release its Q3 2021 earnings on November 3, 2021, after market close. Following the release, a conference call is scheduled for November 4, 2021, at 9:00 AM ET, to discuss financial and operational results. The call will be accessible via teleconference and live webcast on the company's website. As of June 30, 2021, RPT's portfolio included 50 shopping centers and 15 net lease retail properties, with a pro-rata leasing rate of 92.5%. Investors can expect updates on the company's performance and strategies during the earnings call.

RPT Realty reported a net income of $34.7 million or $0.41 per diluted share for Q2 2021, significantly up from a loss of $4.6 million in Q2 2020. The Board declared a 60% increased dividend of $0.12 per share, payable on October 1, 2021. The company has $499 million in acquisitions under contract across key markets like Boston and Atlanta. Notably, 58 leases were signed totaling 442,102 square feet, with an increase in leased and occupancy rates. Operating FFO rose to $18.3 million, up from $14.5 million in the prior year, demonstrating a robust recovery amidst ongoing challenges.

RPT Realty (NYSE:RPT) announced that CEO Brian Harper will present at Nareit’s REITweek: 2021 Virtual Investor Conference on June 10, 2021, at 9:00 AM ET. Investors can attend live or access a replay by registering online. RPT Realty operates a diverse portfolio of open-air shopping centers, with 62 properties totaling 11.9 million square feet of leasable area, and a leasing rate of 92% as of March 31, 2021. The company focuses on creating local consumer experiences in top U.S. markets, aligning with modern retail expectations.

RPT Realty (NYSE:RPT) has been awarded the 2021 Gold Green Lease Leader designation by the Institute for Market Transformation and the U.S. Department of Energy's Better Buildings Alliance. This recognition highlights RPT's commitment to sustainability and high-performance buildings through green leasing practices that enhance occupant health and energy efficiency. CEO Brian Harper emphasizes that this milestone is part of their ongoing commitment to maximizing shareholder value. RPT Realty manages a portfolio of 62 retail properties across the U.S., 92% leased as of March 31, 2021.