Rithm Property Trust (RPT) Q1 2025 Earnings Call April 28, 2025 05:07 PM ET Speaker0 Thank you for standing by and welcome to the Rhythm Property Trust First Quarter twenty twenty five Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer Thank you. I'd now like to turn the call over to Emma Bola, Associate General Counsel of Rhythm Capital. You may begin. Speaker1 Thank you and good morning everyone. I ...

Quarterly Supplement Q1 2025 Disclaimers Rithm Property Trust $1bn+ $296mm $298mm ~$97mm ~ ~ • – • – – Q1'25 Financial Highlights Q1'25 Business Highlights Earnings Growth Looking Ahead at the Opportunity Why CRE Debt? ✓ Why Rithm Property Trust? What to Expect? Driving Growth ✓ ✓ ✓ – ✓ – ✓ ✓ ✓ Illustrative Future State Portfolio(1) | Category | | Description | Target Levered Yield(2) | | --- | --- | --- | --- | | A Securities | Commercial Mortgage-Backed | Lower-risk, highly liquid, mostly senior bonds acr ...

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Group 1 - The focus is on closed-end funds, with an emphasis on identifying directional and arbitrage opportunities due to market price deviations [1] - Timing is highlighted as a crucial factor in executing trades related to closed-end funds [1] Group 2 - The article is part of a series analyzing exchange-traded fixed-income security IPOs, specifically focusing on Rithm Property Trust Inc. (NYSE: RPT) [2] - The author discloses no current stock or derivative positions in the mentioned companies and has no plans to initiate any within the next 72 hours [2]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES ACT OF 1934 For the quarterly period ended September 30, 2023 Commission file number 1-10093 RPT Realty (Exact name of registrant as specified in its charter) | Maryland | | 13-6908486 | | --- | --- | --- | | (State of other jurisdiction of incorporation or organization) | | (I.R.S Employer Identification Numbers) | | 19 W 44th Street, | Sui ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES ACT OF 1934 For the quarterly period ended June 30, 2023 Commission file number 1-10093 RPT Realty (Exact name of registrant as specified in its charter) | Maryland | | 13-6908486 | | --- | --- | --- | | (State of other jurisdiction of incorporation or organization) | | (I.R.S Employer Identification Numbers) | | 19 W 44th Street, | Suite 10 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES ACT OF 1934 For the quarterly period ended March 31, 2023 Commission file number 1-10093 RPT Realty (Exact name of registrant as specified in its charter) | Maryland | | 13-6908486 | | --- | --- | --- | | (State of other jurisdiction of incorporation or organization) | | (I.R.S Employer Identification Numbers) | | 19 W 44th Street, | Suite 1 ...

Property Portfolio and Acquisitions - As of December 31, 2022, RPT Realty's property portfolio consisted of 44 wholly-owned shopping centers and represented 15.0 million square feet of gross leasable area, with a pro-rata share of 93.8% leased[13]. - In 2022, RPT Realty closed on two shopping center acquisitions for an aggregate amount of $110.2 million and three shopping center dispositions for $100.4 million[23]. - RPT Realty's strategy includes acquiring high-quality open-air shopping centers in top U.S. metropolitan areas, focusing on strong demographics and job growth[19]. - The company intends to pursue growth through strategic acquisitions of attractively priced open-air shopping centers[151]. - The company has a diversified tenant mix with major tenants including Dick's Sporting Goods, Publix, and LA Fitness across various properties[121]. Financial Performance - Net income available to common shareholders was $77.3 million, or $0.89 per diluted share, for the year ended December 31, 2022, compared to $61.9 million, or $0.75 per diluted share, for the same period in 2021[154]. - FFO was $95.8 million, or $1.02 per diluted share, for the year ended December 31, 2022, compared to $70.2 million, or $0.85 per diluted share, for the same period in 2021[154]. - Total revenue for the year ended December 31, 2022, was $217.7 million, an increase of $4.2 million or 2.0% compared to 2021[171]. - Same property net operating income increased 4.3% for the year ended December 31, 2022, compared to the same period in 2021[154]. - Cash provided by operating activities for the year ended December 31, 2022, was $97.7 million, up from $92.9 million in 2021[206]. Leasing and Occupancy - The company reported 307 leasing transactions in 2022, totaling 2,208,591 square feet, with a total base rent of $17.18 per square foot[21]. - As of December 31, 2022, the Company's aggregate portfolio leased rate was 93.8%, up from 93.1% at December 31, 2021[154]. - The average base rent for properties in the portfolio is $16.12 per leased square foot, with significant variations across locations[118]. - The average annualized base rent for small shop tenants (less than 10,000 square feet) in 2023 is $26.26, contributing $9,007,199 to total annualized base rent[130]. - The total number of expiring leases for small shop tenants in 2024 is 165, with a total annualized base rent of $10,305,129, representing 13.5% of total annualized base rent[130]. Financial Risks and Challenges - The company faces competition from larger REITs and private institutional investors, which may affect property acquisition costs and growth potential[38]. - Economic challenges such as inflation and labor shortages may adversely impact tenants' ability to pay rent, affecting the company's financial performance[53]. - The company may incur additional operating costs due to compliance with new regulations and sanitation measures, affecting overall profitability[73]. - The reliance on anchor tenants is critical, as their insolvency or lease termination could adversely impact the performance of the company's properties[59]. - The company is susceptible to risks associated with joint ventures, including lack of sole decision-making authority and potential conflicts with partners[65]. Sustainability and Corporate Governance - The company published its second annual Corporate Sustainability Report in 2022, highlighting its ESG initiatives and goals[33]. - The company is focused on environmental sustainability initiatives to reduce its carbon footprint and improve energy efficiency, which may lower operating costs[35]. - The company engages with stakeholders regularly to discuss important issues, including ESG topics, enhancing transparency and accountability[35]. - The company’s governance structure emphasizes integrity and transparency, which is believed to contribute to long-term success[35]. - The company supports philanthropic initiatives and encourages employee volunteerism through its "Act Locally Give Globally" program[37]. Employee and Workforce - RPT Realty's workforce consisted of 138 full-time employees as of December 31, 2022, with 56% being female[34]. - The company offers a comprehensive benefits package, including health insurance, paid time off, and wellness programs, promoting employee satisfaction and work-life balance[37]. - The company emphasizes a commitment to diversity and inclusion, requiring all employees to complete training on business conduct and ethics[35]. Debt and Financing - As of December 31, 2022, the company had $855.4 million of outstanding indebtedness, net of deferred financing costs, including $0.8 million of finance lease obligations[81]. - The company is reliant on capital markets for refinancing debt upon maturity, with potential adverse effects if market conditions are restrictive[81]. - The company must distribute at least 90% of its REIT taxable income annually to maintain its REIT status, which may limit cash available for growth[86]. - The discontinuation of LIBOR may lead to higher borrowing costs as contracts transition to alternative reference rates[91]. - The company had ten interest rate swap agreements in effect for an aggregate notional amount of $310.0 million, converting floating rate corporate debt to fixed rate debt[79].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES ACT OF 1934 For the quarterly period ended September 30, 2022 Commission file number 1-10093 RPT Realty (Exact name of registrant as specified in its charter) | Maryland | | 13-6908486 | | --- | --- | --- | | (State of other jurisdiction of incorporation or organization) | | (I.R.S Employer Identification Numbers) | | 19 W 44th Street, | Sui ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES ACT OF 1934 For the quarterly period ended June 30, 2022 Commission file number 1-10093 RPT Realty (Exact name of registrant as specified in its charter) | Maryland | | 13-6908486 | | --- | --- | --- | | (State of other jurisdiction of incorporation or organization) | | (I.R.S Employer Identification Numbers) | | 19 W 44th Street, | Suite 10 ...