RPT Realty (RPT) Stock

NEW YORK, Sept. 27, 2023 (GLOBE NEWSWIRE) -- RPT Realty (NYSE:RPT) (“RPT” or the “Company”) announced today that it will release its third quarter 2023 earnings press release after the market closes on Thursday, November 2, 2023.

Retail REITs have become opportunistic investment opportunities, particularly in the retail sector. RPT Realty has experienced a relative collapse in share prices despite positive operating results. RPT Realty offers investors access to retail cash flow and real estate at a lower price compared to peers.

RPT Realty (RPT) came out with quarterly funds from operations (FFO) of $0.25 per share, beating the Zacks Consensus Estimate of $0.24 per share. This compares to FFO of $0.27 per share a year ago.

RPT Realty operates commercial real estate with grocery stores as anchor tenants. The preferred shares are in excellent shape as the REIT only needs about 6.5% of its FFO to cover the preferred dividends. The common units are getting very interesting as well as they are trading at just over 9 times FFO.

RPT Realty shares have declined over 10% year-to-date and are down 22% over the past year. RPT has meaningfully improved the quality of its portfolio over the past year, divesting slower-growing centers in the Midwest and increasing exposure to Florida.