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.
Retail Value Inc. (NYSE: RVI) will disclose its first quarter earnings on May 4, 2021, after market close. RVI specializes in asset management in the U.S. and Puerto Rico, aiming to enhance value through operations and asset sales. The company operates under the management of SITE Centers Corp. Additional information can be found on www.retailvalueinc.com.
On April 9, 2021, Retail Value Inc. (NYSE: RVI) finalized the sale of Marketplace of Brown Deer for $10.3 million, netting proceeds used to reduce mortgage debt. Post-transaction, RVI now holds interests in 21 properties across the continental U.S. and Puerto Rico. The firm is managed by subsidiaries of SITE Centers Corp. and aims to enhance its value through strategic operations and asset sales.
Retail Value Inc. (NYSE: RVI) reported a fourth-quarter net loss of $9.5 million ($0.48 per share) for Q4 2020, a significant improvement from the $39.1 million loss in Q4 2019, largely due to reduced impairment charges and interest expenses. However, Operating FFO declined to $14.8 million from $24.1 million year-over-year. The company sold assets worth $52.1 million and repaid $51.2 million in mortgage debt. The leased rate decreased to 88.9% in the U.S. due to tenant bankruptcies, while Puerto Rico saw a slight increase to 87.7%. Projections for 2021 NOI range from $84 million to $96 million.
On January 19, 2021, Retail Value Inc. (NYSE:RVI) announced tax allocations for its 2020 distributions on common shares. The entire distribution amount declared in 2020 will be allocated to the 2021 distribution requirement due to transactions closing after the dividend declaration date. Consequently, the January 12, 2021 distribution will be reported on the Form 1099-DIV for the 2021 tax year, with no Form 1099-DIV for 2020. This announcement informs shareholders about tax reporting changes regarding their investments in RVI.
On January 11, 2021, Retail Value Inc. (NYSE:RVI) announced a common stock dividend of $1.16 per share, payable on January 12, 2021. This dividend will be distributed with approximately $2.1 million in cash and about 1,255,000 common shares, factoring in a Puerto Rico withholding tax of 10%. Shareholders owning around 1.9 million shares opted for a full stock distribution, receiving $1.044 per share in common shares. Those with approximately 17.9 million shares chose cash and stock, obtaining $0.1156 in cash and $0.9283 in shares.
On December 22, 2020, Retail Value Inc. (NYSE:RVI) successfully sold Plaza Palma Real in Humacao, PR, for $50 million, with proceeds aimed at repaying associated mortgage debt. Post-sale, RVI holds interests in 11 properties in the continental U.S. and another 11 properties in Puerto Rico. Additionally, on December 7, 2020, RVI made a $65 million voluntary prepayment of its mortgage debt, without penalties, enhancing its financial position. RVI focuses on maximizing value through asset operations and sales.
Retail Value Inc. (NYSE:RVI) has successfully sold its Longhorn Steakhouse Pad at Peachstreet Marketplace in Erie, PA, for $2.1 million, excluding closing costs and adjustments. From the sale proceeds, 90% was allocated to repay mortgage debt, with the remaining funds retained as cash. Post-transaction, RVI maintains interests in 11 properties across the continental U.S. and 12 in Puerto Rico, indicating a diversified asset portfolio focused on maximizing operational value.
Retail Value Inc. (NYSE: RVI) declared a dividend of $1.16 per share, totaling approximately $23.0 million, based on estimated taxable income from Puerto Rico. This dividend is payable on January 12, 2021 to shareholders recorded by December 2, 2020, subject to a 10% withholding tax. Following IRS guidance, RVI will distribute the dividend partly in cash and partly in stock, allowing shareholders the option to elect for cash or shares, with excess cash requests being prorated. Election forms are expected by December 9, 2020.