Welcome to our dedicated page for RVI news (Ticker: RVI), a resource for investors and traders seeking the latest updates and insights on RVI stock.
This page aggregates historical news coverage for Retail Value Inc. (RVI), an independent publicly traded real estate company that focused on owning, operating, and selling shopping center assets. Company announcements describe RVI’s efforts to realize value through property operations, asset sales, and significant cash distributions to common shareholders.
News items for RVI include detailed reports on property transactions, such as the sale of portfolios of assets in the continental U.S., the sale of Green Ridge Square in Grand Rapids, Michigan, and the sale of Willowbrook Plaza in Houston, Texas. These releases outline sale prices, net proceeds, and how those proceeds were expected to fund special cash distributions. Other articles cover RVI’s quarterly and annual operating results, including discussions of net income, funds from operations (FFO), Operating FFO, and net operating income (NOI), along with commentary on how asset sales and financing activities affected these measures.
RVI’s news flow also documents key corporate milestones, such as entering into an External Management Agreement with affiliates of SITE Centers to manage its remaining property and administer a wind-up of operations, announcing its intention to voluntarily de-list from the New York Stock Exchange, and later indicating that its common shares were quoted on the OTC Pink Market under the ticker symbol RVIC. Additional releases provide tax allocation information for distributions, clarifying the portions treated as ordinary dividends, return of capital, and foreign tax paid.
Together, these articles offer a chronological view of how Retail Value Inc. moved from managing a broader portfolio of shopping centers to selling all of its real estate holdings, returning capital to shareholders, and winding up its business. Investors and researchers can use this news archive to trace the company’s asset sales, distribution decisions, financial reporting, and corporate status changes over time.
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Retail Value Inc. (RVIC) has announced the tax allocations for distributions on its common shares for 2022. Shareholders should refer to Form 1099-DIV, which outlines the distribution allocation necessary for their federal income tax returns. Importantly, the January 18, 2022 distribution is accounted for in 2021's taxes. The company has completed the sale of all its real estate holdings and is winding down operations. The announcement highlights the per-share amounts for ordinary dividends and total distributions, with a key figure being $3.544284 for total distributions. More details can be found on the company's website.
Terreno Realty Corporation (NYSE: TRNO) has appointed Gary N. Boston as an independent director, effective October 1, 2022. This move expands the Board of Directors to eight members. Boston previously served as Senior Portfolio Manager at APG Asset Management and was a Director at Retail Value Inc. (NYSE: RVI) until its dissolution in June 2022. Terreno Realty specializes in acquiring, owning, and operating industrial real estate across six major coastal U.S. markets, including Los Angeles and New York City.
Retail Value Inc. (NYSE:RVI) announced that its common shares will begin trading on the OTC Pink Market under the new ticker symbol 'RVIC' starting April 7, 2022. Previously, the shares traded on the New York Stock Exchange. RVI owns one property in the continental U.S., currently under contract for sale, and is managed by subsidiaries of SITE Centers Corp. The company aims to enhance value through operations and asset sales.
Retail Value Inc. (NYSE: RVI) announced the expiration of the due diligence period for selling Crossroads Center in Gulfport, Mississippi for $38.5 million. The sale remains contingent on customary conditions and is targeted for completion by the end of April 2022. Additionally, RVI plans to voluntarily de-list its common shares from the New York Stock Exchange, with expected de-listing occurring before market opens on April 7, 2022. The company has not arranged for listing on another exchange.
Retail Value Inc. (NYSE: RVI) reported a fourth-quarter 2021 net income of $27.7 million ($1.31 per diluted share), compared to a net loss of $9.5 million in Q4 2020. The increase in net income stemmed from higher real estate disposition gains and lower impairment charges. However, Operating FFO dropped to a loss of $0.1 million ($0.00 per diluted share) from $14.8 million in the previous year due to asset sales. For the year, RVI posted a net loss of $17.7 million ($0.84 per diluted share), an improvement over the $93.6 million loss in 2020. The company sold 21 shopping centers for $933.6 million in 2021.
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On December 15, 2021, Retail Value Inc. (NYSE: RVI) sold Willowbrook Plaza in Houston, Texas for $37.1 million. The net proceeds of approximately $35.7 million will support a special cash distribution of $3.27 per common share, payable on January 18, 2022. The distribution is set to be a return of capital, impacting investors’ tax bases. Additionally, RVI repurchased all Series A preferred stock for $1.00, eliminating future dividend obligations.
On December 6, 2021, Retail Value Inc. (NYSE: RVI) completed the sale of Green Ridge Square in Grand Rapids, Michigan for $23.3 million in cash. The net proceeds at closing were approximately $22.3 million. Following this transaction, RVI retains ownership of two assets in the continental U.S. RVI aims to maximize value through the management and sales of its properties.
Retail Value Inc. (NYSE: RVI) announced the expiration of the due diligence period for the sale of Willowbrook Plaza in Houston, Texas, for