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. (RPT) is a New York Stock Exchange-listed REIT specializing in premier open-air shopping centers across strategic US markets. This news hub provides investors and stakeholders with timely updates on corporate developments, financial performance, and strategic initiatives shaping the company's position in commercial real estate.
Access authoritative reporting on RPT's earnings announcements, property acquisitions, and partnership developments. Our curated collection features press releases detailing lease agreements, sustainability initiatives, and leadership updates alongside analyst insights into market trends affecting community-centric retail spaces.
Key focal points include RPT's value-added redevelopment projects, tenant mix optimization strategies, and capital allocation decisions. The resource serves as a centralized reference for understanding how the company's integrated REIT model drives operational efficiency in managing over 50 open-air shopping destinations nationwide.
Bookmark this page for convenient access to verified information about Rithm Property Trust's financial position, dividend announcements, and responses to evolving retail sector dynamics. Check regularly for updates demonstrating RPT's commitment to creating consumer experiences through locally relevant retail environments.
RPT Realty (NYSE: RPT) has appointed Tyler Sorenson as Managing Director to spearhead investments for its new core net lease retail real estate platform. Sorenson, formerly Vice President of Acquisitions at Spirit Realty Capital, has extensive experience managing retail acquisitions. RPT's platform aims to invest over $1.2 billion in net lease retail assets to secure attractive returns. With notable co-investors, this initiative is expected to create value for RPT shareholders while adapting to market shifts in retail. The company operates a national portfolio of open-air shopping destinations, focusing on top U.S. markets.
RPT Realty announced the formation of a new core net lease retail platform with GIC, Zimmer Partners, and Monarch Alternative Capital, aiming to acquire over $1.2 billion in retail assets. The initial portfolio includes 42 single-tenant properties valued at $151 million. RPT will retain a 6.4% equity interest in the platform and manage it, generating fees while aiming for scalable growth. A $175 million secured credit facility has been established, expandable to $500 million. The initiative is poised to enhance RPT's operational capabilities and shareholder value.
RPT Realty (NYSE:RPT) reported a net loss of $(7.4) million, or $(0.09) per diluted share, for Q4 2020, significantly down from $71.1 million, or $0.83 per share, in Q4 2019. For the full year, the loss totaled $(16.9) million, or $(0.21) per diluted share, compared to $84.8 million, or $1.04 per share, in 2019. The company declared a Q1 2021 cash dividend of $0.075 per share, payable on April 1. FFO for Q4 was $14.7 million, nearly stable year-over-year. As of February 10, 2021, 94% of tenants were operational, and 91% of Q4 rent has been collected.
RPT Realty (NYSE:RPT) announced key tax reporting details for 2020 dividend distributions on its common and preferred shares. The common share dividends include a gross distribution of $0.440 per share, with a total ordinary dividend of $0.390818. Preferred shares saw a gross distribution of $3.625 per share, all classified as ordinary dividends. These amounts will be reported on Form 1099-DIV for tax purposes. Investors are advised to consult tax professionals regarding the specific treatment of these distributions.
RPT Realty (NYSE:RPT) will release its fourth quarter 2020 earnings on February 17, 2021, post-market. A conference call to discuss the results will follow on February 18, 2021, at 9:00 AM (ET). Investors can access the call via RPT's website or by phone. As of September 30, 2020, RPT's portfolio included 49 shopping centers with 93.3% leased space, totaling 11.9 million square feet.
RPT Realty (NYSE:RPT) has received its first investment-grade credit rating from Fitch Ratings, Inc. with a Long-Term Issuer Default Rating of ‘BBB-‘ and a stable outlook. The rating reflects RPT's solid management, enhanced operational performance, and strong financial position, including below-average tenant exposure and proactive balance sheet management. Brian Harper, President and CEO, emphasized that this rating underscores their commitment to maintaining a sound balance sheet despite challenging market conditions. RPT Realty operates 49 shopping centers across the U.S., with a 93.3% leasing rate as of September 30, 2020.
RPT Realty reported a net loss of $3.6 million or $0.05 per diluted share in Q3 2020, a decline from a net income of $3.8 million in Q3 2019. Despite challenges, 94% of tenants were operational by October 30, 2020, with a 42.9% re-leasing spread, the highest since 2018. The company has a backlog of $3.0 million in signed but not opened ABR. However, it suspended the common dividend to preserve liquidity amid COVID-19. Cash reserves stand at $220.1 million with no debt maturities until June 2021.
RPT Realty (NYSE:RPT) reported improved rental collections for August, reaching 86% compared to 79% in July and 70% in Q2 2020. With deferral agreements included, total collections address 93% of August billings. The company noted a resurgence in leasing activity, with 96% of tenants operational. RPT's portfolio consists of 49 shopping centers totaling 11.9 million square feet, with a leasing rate of 93.6%.
RPT Realty (NYSE:RPT) announced its plans to release third quarter 2020 earnings after market close on November 4, 2020. A conference call will follow on November 5, 2020, at 10:00 AM ET to discuss financial results. The company operates a national portfolio of shopping centers, with 49 locations comprising 11.9 million square feet and a leasing rate of 93.6% as of June 30, 2020.
RPT Realty (NYSE:RPT) will host investor meetings during the Nareit REITweek Virtual Investor Conference on June 2-3, 2020. An investor presentation is available on their website. As of May 28, 2020, rent and expense reimbursement collections are in line with April. Over 65% of tenants are operational, enhancing collection efforts. CEO Brian Harper will provide detailed updates during the August earnings call. As of March 31, 2020, RPT owned 49 shopping centers, with 94.1% leased.
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