Welcome to our dedicated page for Rithm Property Trust news (Ticker: RPT), a resource for investors and traders seeking the latest updates and insights on Rithm Property Trust stock.
Rithm Property Trust Inc. (NYSE: RPT) is a real estate investment trust (REIT) and real estate investment platform externally managed by an affiliate of Rithm Capital Corp. The company’s news flow centers on its commercial real estate focused investment strategy, mortgage- and securities-related holdings, capital structure decisions, and regular financial reporting.
Investors following RPT news can see recurring quarterly earnings announcements, where the company reports GAAP comprehensive income, earnings available for distribution, book value per common share, and details of its net interest income, expenses, and other income or loss items. These releases are often accompanied by information on conference calls and webcasts that discuss recent performance and portfolio activity.
Rithm Property Trust also issues dividend declarations for both its common stock and its 9.875% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock. These updates outline per-share dividend amounts and relevant record and payment dates, reflecting the company’s REIT requirement to distribute a significant portion of its taxable income.
Another category of news involves capital and portfolio actions, such as the one-for-six reverse stock split of the company’s common stock and investments in commercial mortgage-backed securities, mortgage loans, and an indirect minority interest in Paramount Group Operating Partnership LP. Press releases and related SEC filings describe how these actions affect the share count, trading characteristics, and composition of the investment portfolio.
By reviewing RPT news, readers can track how management describes its flexible commercial real estate focused investment strategy, its use of the non-GAAP earnings available for distribution metric, and the evolving mix of mortgage loans, CMBS, RMBS, and other real estate-related investments. This page aggregates those updates so users can monitor ongoing disclosures and corporate developments.
RPT Realty (NYSE:RPT) will announce its Q1 2022 earnings on May 4, 2022, after market close. A conference call is scheduled for May 5, 2022, at 10:00 AM ET to discuss financial results. Investors can access the call via a live webcast on the company’s website or through a dedicated phone line. The company operates a portfolio of 47 shopping centers, totaling 14.6 million square feet of gross leasable area, with a 93.1% leasing rate as of December 31, 2021.
RPT Realty (NYSE:RPT) announced that its President and CEO, Brian Harper, will present at the 2022 Citi Global Property CEO Conference on March 7, 2022, at 4:15 PM ET in Hollywood, FL. A live webcast of the presentation will be accessible on the Company's website. Additionally, an updated 4Q21 Investor Presentation will be available prior to the conference. RPT Realty operates a national portfolio of open-air shopping centers, with 47 wholly-owned and 49 joint venture properties totaling 14.6 million square feet of gross leasable area as of December 31, 2021.
RPT Realty (NYSE:RPT) reported a net loss of $12.0 million for Q4 2021, a decrease from a loss of $7.4 million in Q4 2020. However, the company posted a net income of $61.9 million for the full year, compared to a loss of $16.9 million in 2020. The Board declared an 8% increase in the Q1 2022 cash dividend to $0.13 per share, payable on April 1, 2022. FFO was $0.25 per diluted share for Q4 2021, up 38.9% year-over-year. The same property NOI grew 12.4% in Q4 and 6.3% for the full year. The company closed $791 million in investments, shifting focus to high-growth markets.
RPT Realty (NYSE:RPT) announced an 8% increase in its first quarter 2022 cash dividend to $0.13 per common share, payable on April 1, 2022, for shareholders of record by March 18, 2022. Additionally, the Series D convertible preferred share dividend is set at $0.90625 per share. As of September 30, 2021, RPT's aggregate portfolio included 57 shopping centers and 30 net lease properties, with a pro-rata share of 92.5% leased, representing 14.0 million square feet of gross leasable area.
RPT Realty (NYSE:RPT) announced tax reporting details for its 2021 dividend distributions. The preferred share distribution from January 4, 2021, will be accounted for in 2021, while the common and preferred share distributions from January 3, 2022, will apply to 2022. The total ordinary dividend for common shares is $0.053539 per share, while for preferred shares, it's $3.625000 per share. Investors are advised to consult tax professionals regarding the treatment of these distributions on their federal income taxes.
RPT Realty (NYSE:RPT) reported substantial investment activity for Q4 2021, acquiring three shopping centers for $173.0 million and single-tenant assets worth $73.2 million. The company completed 11 multi-tenant acquisitions in 2021 totaling $540.9 million, alongside $191.0 million in single-tenant acquisitions. Significant sales included Market Plaza and Webster Place for $59.5 million, reducing exposure to non-core markets. CEO Brian Harper highlighted a strategic shift towards high-growth markets, increasing annualized base rent from $1.1 billion in 2020 to $1.25 billion by 2021 end.
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.