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Rithm Property Trust Inc. reports developments for a real estate investment trust organized as a Maryland corporation and externally managed by an affiliate of Rithm Capital Corp. The company follows a flexible commercial real estate-focused investment strategy and communicates operating results using measures such as GAAP comprehensive income or loss, earnings available for distribution, dividends and book value.
Recurring news for RPT includes quarterly and annual earnings releases, common and preferred stock dividend declarations, tax treatment of distributions, stock repurchase authorization updates and other capital actions tied to its listed common stock and 9.875% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock.
RPT Realty (NYSE:RPT) has declared a fourth quarter 2022 cash dividend of $0.13 per common share and $0.90625 per Series D convertible preferred share. These dividends cover the period from October 1 to December 31, 2022, payable on January 3, 2023 to shareholders on record as of December 20, 2022. As of June 30, 2022, RPT’s portfolio includes 47 wholly-owned shopping centers, totaling 14.9 million square feet of leasable area, with 93.3% leased occupancy, reflecting solid operational performance.
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RPT Realty (NYSE:RPT) announced that its third quarter 2022 earnings press release will be released after market close on November 2, 2022. A conference call to discuss financial results will be held on November 3, 2022, at 10:00 AM ET. Interested parties can access a live webcast on the company's website or join by phone. The company manages a portfolio of 47 shopping centers with a pro-rata occupancy rate of 93.3% as of June 30, 2022.
RPT Realty (NYSE:RPT) has secured an $810 million amended and restated unsecured credit facility, increasing its capacity by $150 million. The facility includes a $500 million revolving credit line maturing in 2026 and $310 million in term loans. Unique features consist of an accordion option to expand capacity to $1.25 billion and a sustainability-linked pricing structure. Post-transaction, RPT will have no debt maturing through 2024, enhancing its financial stability. The company operates a portfolio of 47 shopping centers across the U.S., with a leasing rate of 93.3% as of June 30, 2022.
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 reported a second quarter 2022 net income of $5.1 million, a significant decrease from $34.7 million in 2021. However, funds from operations (FFO) rose 22.7% year-over-year, driven by acquisitions and a 4.4% increase in same property net operating income (NOI). The company made substantial investments, totaling $652.7 million YTD, including the $216 million acquisition of Mary Brickell Village. RPT's annualized base rent (ABR) exposure rose by 17%. The firm also secured an $810 million credit facility, enhancing its financial position.
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.
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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.