Streetbeat News

RTL

Necessity Retail REIT Inc (The)

http://americanfinancetrust.com/

CEO

Edward Weil

Employees

Industry

Lessors of Other Real Estate Property

public non-traded reit investing in triple net lease properties encumbered by long-term leases with credit tenants.

Open

7.51

Mkt cap

1.1B

Volume

10M

High

7.66

P/E Ratio

-6.24

52-wk high

7.66

Low

7.46

Div yield

N/A

52-wk low

4.45

Orange Capital plans to vote against the merger of Global Net Lease (GNL) and Retail REIT (RTL), citing concerns over dilution of GNL's high-quality portfolio, inferior business quality of RTL, substantial dilutive stock issuance, high internalization costs, and limited strategic alternatives post-merger. Orange Capital suggests alternatives such as a stand-alone internalization of GNL, a potential sale of GNL to a third party, or continuation of the current status quo.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 1:05 pm

Necessity Retail REIT (NASDAQ:RTL) reported Q2 earnings of $0.21 per share, a 27.59% decrease YoY. The company's quarterly sales were $106.70 million, missing the analyst consensus estimate of $112.90 million by 5.49%, and marking an 8.75% decrease YoY.

Portfolio Pulse from vinayak@benzinga.com

August 04, 2023 | 12:19 pm

The real estate investment trust (REIT) sector has seen a surge in merger and acquisition (M&A) activity. AG Mortgage Investment Trust (NYSE:MITT) has offered to acquire Western Asset Mortgage Capital Corp. (NYSE:WMC), disrupting a potential merger with Terra Property Trust Inc. Global Net Lease Inc. (NYSE:GNL) plans to acquire Necessity Retail REIT Inc. (NASDAQ:RTL) to diversify its holdings. Office Properties Income Trust (NASDAQ:OPI) acquired Diversified Healthcare Trust (NASDAQ:DHC) in an all-share transaction, despite opposition from shareholders. Extra Space Storage Inc. (NYSE:EXR) and Life Storage Inc. (NYSE:LSI) merger was approved by shareholders, and Ellington Financial Inc. (NYSE:EFC) announced its acquisition of Arlington Asset Investment Corp. (NYSE:AAIC) and Great Ajax Corp. (NYSE:AJX).

Portfolio Pulse from Ethan Roberts

July 27, 2023 | 8:15 pm

Orange Capital Ventures has expressed concerns over the tactics used by Global Net Lease, Inc. (GNL) regarding its proposed merger with Necessity Retail REIT (RTL). Orange Capital alleges that GNL's board is using the promise of governance enhancements as leverage to get shareholders to approve the merger. The board has reportedly refused to commit to these enhancements unless the merger is approved. Orange Capital has called for the board to commit to these changes regardless of the merger's outcome.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 1:13 pm

Several REITs have announced dividend increases ahead of their Q2 earnings reports. NNN REIT Inc. (NYSE:NNN) increased its quarterly dividend by 2.7% and Gladstone Land Corp. (NASDAQ:LAND) increased its monthly dividend. Necessity Retail REIT Inc. (NASDAQ:RTL) is increasing its quarterly dividend and is set to be acquired by Global Net Lease Inc. (NYSE:GNL) in an all-stock transaction. Whitestone REIT (NYSE:WSR) is also increasing its monthly dividend.

Portfolio Pulse from Ethan Roberts

July 20, 2023 | 10:49 am

The Necessity Retail REIT (RTL) has reported the expiration of the "Go-Shop" period for its proposed merger with Global Net Lease (GNL). Under the terms, RTL stockholders will receive 0.670 shares of GNL for each common share of RTL. No superior acquisition proposals have been made, and the transaction is expected to close in Q3 2023.

Portfolio Pulse from Benzinga Newsdesk

June 23, 2023 | 11:05 am

The article lists the top 5 overbought real estate stocks, including eXp World Holdings (EXPI), Tanger Factory Outlet Centers (SKT), Urstadt Biddle Properties (UBA), Farmland Partners (FPI), and The Necessity Retail REIT (RTL). These stocks have high RSI values, indicating they may be overvalued and could experience a short-term decline.

Portfolio Pulse from Lisa Levin

June 12, 2023 | 11:53 am

Global Net Lease (GNL) and The Necessity Retail REIT (RTL) have entered a Cooperation Agreement with Blackwells Capital. Blackwells will withdraw their nomination notices and proposals at both GNL and RTL, and vote in favor of the share issuances for the previously announced merger of GNL and RTL.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2023 | 10:03 am

The best performing REITs in May 2023 were Modiv Inc. (MDV), Ashford Hospitality Trust Inc. (AHT), and Creative Media & Community Trust Corp. (CMCT). Modiv reported a 27.18% return, while Ashford Hospitality gained 19.71% and Creative Media & Community rose 13.64%.

Portfolio Pulse from Ethan Roberts

June 01, 2023 | 3:37 pm

The article lists the top 5 overbought real estate stocks, including Necessity Retail REIT (RTL), Offerpad Solutions (OPAD), eXp World Holdings (EXPI), The St. Joe Company (JOE), and Modiv Inc. (MDV). These stocks have high RSI values, indicating they may be overvalued and present an opportunity to go short.

Portfolio Pulse from Lisa Levin

May 30, 2023 | 11:33 am

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