Necessity Retail REIT

Necessity Retail REIT, Inc. is a real estate investment trust, which engages in the acquiring and managing a portfolio of primarily service-oriented and traditional retail and distribution related commercial real estate properties. It operates through income-producing properties segment, which consists of activities related to investing in real estate. The company was founded on January 22, 2013 and is headquartered in New York, NY.

Earnings data Q4 2019

Earnings data Q1 2020

Earnings data Q2 2020

Earnings data Q3 2020

Earnings data Q4 2020

Earnings data Q1 2021

Earnings data Q2 2021

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Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q2 2024

Necessity Retail REIT (RTL) reports robust 2022 performance and strategic growth outlook

Necessity Retail REIT (RTL) delivered strong financial performance in 2022, with notable growth in AFFO and successful portfolio management.
While facing debt maturity challenges, RTL's disciplined approach and strategic initiatives position it well for future growth and stability.
With a well-diversified portfolio and focus on optimizing capital structure, RTL remains poised to capitalize on market opportunities and drive value for investors.

Necessity Retail REIT reports Q1 growth and debt reduction

Necessity Retail REIT's Q1 performance showed revenue growth and debt reduction. The company's strong tenant roster and leasing pipeline position it well for future success. Challenges with certain tenants are being addressed, and a focus on asset management and growth opportunities prevails.

Necessity Retail REIT reports Q2 results, announces merger with GNL

RTL's Q2 performance reflects solid revenue, debt reduction, and improved occupancy rates.
The merger with GNL offers strategic advantages and potential for enhanced shareholder value.
While facing challenges like elevated expenses and net losses, RTL is poised for growth post-merger.
Opportunities lie in synergies, cost efficiencies, and positive market sentiment towards the combined company.

RTL tracks an index of US real estate firms associated with the retail industry. The portfolio is market-cap weighted.

Global Net Lease

Establishes Third-Largest Net Lease REIT With Global Presence NEW YORK , Sept. 12, 2023 /PRNewswire/ -- Global Net Lease Inc. (NYSE: GNL) ("Global Net Lease" or "GNL") and The Necessity Retail REIT Inc. (NASDAQ: RTL) ("Necessity Retail REIT" or "RTL") announced today that they have completed the previously announced merger between GNL and RTL, including the internalization of both GNL's and RTL's advisory and property management functions.

GLOBAL NET LEASE AND THE NECESSITY RETAIL REIT COMPLETE MERGER AND INTERNALIZATION TRANSACTION

Preliminary Results Indicate Stockholders Approved Merger and Internalization with GNL Transaction Expected to Close on September 12, 2023 NEW YORK , Sept. 8, 2023 /PRNewswire/ -- The Necessity Retail REIT, Inc. (Nasdaq: RTL/ RTLPP / RTLPO) ("RTL" or "the Company") announced today that it held a previously announced Special Meeting of Stockholders.

The Necessity Retail REIT Announces Special Stockholder Meeting Preliminary Results

Preliminary Results Indicate Stockholders Approved Proposals Involving Merger and Internalization Transaction Transaction Expected to Close on September 12, 2023 NEW YORK , Sept. 8, 2023 /PRNewswire/ -- Global Net Lease, Inc. ("GNL" or "the Company") (NYSE: GNL/ GNL PRA / GNL PRB) announced today that it held a previously announced Special Meeting of Stockholders.

Global Net Lease, Inc. Announces Special Stockholder Meeting Preliminary Results

Both ISS and Glass Lewis recommend GNL shareholders vote AGAINST the proposed value-destructive merger of GNL and RTL NEW YORK , Sept. 5, 2023 /PRNewswire/ -- Orange Capital Ventures, LP ("Orange Capital"), a New York-based investment firm, today announced its continued opposition to the proposed merger of Global Net Lease, Inc. (NYSE: GNL) ("GNL" or the "Company") and the Necessity Retail REIT, Inc. (Nasdaq: RTL) ("RTL") (the "Merger").

Orange Capital Issues Statement and Releases KEY Questions in Advance of Today's GNL Management Call

NEW YORK--(BUSINESS WIRE)--Blackwells Capital LLC (together with its affiliates, “Blackwells”), an alternative investment management firm that is a shareholder of both Global Net Lease, Inc. (NYSE: GNL) (“GNL”) and The Necessity Retail REIT, Inc. (NASDAQ: RTL) (“RTL”), today reiterated its support for the companies' proposed combination. Jason Aintabi, Chief Investment Officer of Blackwells, commented: “Blackwells spent the last year engaging with GNL and RTL to secure various enhancements, inc.

Blackwells Capital Reiterates Support for the Combination of Global Net Lease and The Necessity Retail REIT

ISS Acknowledges Error in Their Original Analysis; Issues Corrected Report on the GNL Merger and Internalization  NEW YORK , Sept. 5, 2023 /PRNewswire/ -- Global Net Lease, Inc. (NYSE: GNL) ("Global Net Lease", "GNL" or the "Company") announced today that it will host a conference call and webcast on Tuesday, September 5, 2023, at 2:30pm ET to discuss the benefits and industrial logic of the proposed merger between GNL and The Necessity Retail REIT, Inc. (NASDAQ: RTL) ("Necessity Retail REIT" or "RTL") and the immediate internalization of both GNL's and RTL's current advisory and property management functions as a part of the proposed transaction.

GLOBAL NET LEASE TO HOST CONFERENCE CALL AND Q&A TO DISCUSS BENEFITS OF MERGER AND INTERNALIZATION TRANSACTION

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Rates Up, REITs Down. Commercial and residential real estate markets remain an easy transmission mechanism - or "punching bag" - of the Federal Reserve's historically swift monetary tightening cycle. Higher For Longer? The business models of many private equity funds and non-traded REITs were not designed for a period of sustained 5%+ rates or double-digit declines in property values. "Hope" is the only strategy for some highly-levered property owners amid a dearth of buying interest and dwindling refinancing options. CRE transactions and capital market activity has dipped to GFC-era-lows.

REITs Are Historically Cheap

NEW YORK , Aug. 31, 2023 /PRNewswire/ -- The Necessity Retail REIT, Inc. (Nasdaq: RTL/ RTLPP / RTLPO) ("RTL" or the "Company") announced today that, through its subsidiaries, the Company completed a $260 million commercial mortgage-backed security loan (the "Loan") encumbered by 29 multi-tenant properties the Company owns across the United States. The Loan has a 10-year term and is interest-only at 6.45%.

THE NECESSITY RETAIL REIT ANNOUNCES $260 MILLION CMBS FINANCING

Highlights Efficiencies, Scale and Significant Governance Overhauls  Nominated Directors of GNL and RTL Were Re-Elected by Shareholders Following the Merger Announcement with 85% GNL Shareholder Participation and 75% RTL Shareholder Participation in 2023 Annual Meeting  Boards Recommend Stockholders to Vote "FOR" proposals at Special Meetings on September 8, 2023 NEW YORK , Aug. 28, 2023 /PRNewswire/ -- Global Net Lease Inc. (NYSE: GNL) ("Global Net Lease" or "GNL") and The Necessity Retail REIT Inc. (NASDAQ: RTL) ("Necessity Retail REIT" or "RTL") today released an investor presentation highlighting the significant benefits of the proposed merger between GNL and RTL, and the ensuing elimination of their respective external management agreements. The presentation has been filed with the Securities and Exchange Commission and is available in the investor relations sections of GNL's and RTL's websites.

Global Net Lease and Necessity Retail REIT Release Presentation Detailing Benefits of Merger

Highlights Lack of Financial or Strategic Value for GNL Stockholders Identifies Key Questions for GNL Stockholders to Ask GNL Board  NEW YORK , Aug. 15, 2023 /PRNewswire/ -- Orange Capital Ventures, LP ("Orange Capital"), a New York-based investment firm, today released a detailed presentation outlining why it intends to vote AGAINST the proposed merger of Global Net Lease, Inc. (NYSE: GNL) ("GNL" or the "Company") and the Necessity Retail REIT, Inc. (Nasdaq: RTL) ("RTL") (the "Merger"). The Merger is subject to GNL and RTL stockholder approval at the Special Meeting of Stockholders scheduled for September 8, 2023.

Orange Capital Releases Detailed Presentation on Why It Intends to Vote Against the Merger of Global Net Lease, Inc. and the Necessity Retail REIT, Inc.

Company to Host Investor Webcast and Conference Call Today at 1:00 PM ET NEW YORK , Aug. 3, 2023 /PRNewswire/ -- Global Net Lease, Inc. (NYSE: GNL) ("GNL" or the "Company"), a real estate investment trust that focuses on acquiring and managing a globally diversified portfolio of strategically-located commercial real estate properties, announced today its financial and operating results for the quarter ended June 30, 2023. Second Quarter 2023 and Subsequent Events Highlights Announced merger agreement with The Necessity Retail REIT, Inc. (NASDAQ: RTL), which is expected to close in September, 2023 and is expected to: Create the third largest publicly traded net lease REIT with a global presence Be 9% accretive to annualized AFFO per share in the first quarter after closing, compared to the first quarter of 2023 Create $75 million of annual cost savings anticipated within twelve months of closing Revenue was $95.8 million compared to $95.2 million in second quarter 2022  Net loss attributable to common stockholders was $31.4 million, or $0.30 per diluted share, compared to $5.8 million, or $0.06 per diluted share in second quarter 2022 Net operating income ("NOI") was $86.8 million compared to $87.4 million in second quarter 2022  Core Funds from Operations ("Core FFO") was $27.7 million, or $0.27 per diluted share, due in part to proxy related expenses of $22.0 million and $6.3 million of merger and transaction costs, compared to $50.0 million or $0.48 per diluted share in second quarter 2022 Adjusted Funds from Operations ("AFFO") was $41.4 million compared to $45.0 million in the second quarter 2022 AFFO per diluted share was $0.40 compared to $0.43 in second quarter 2022 and $0.38 in the first quarter of 2023 Distributed $41.7 million, or $0.40 per diluted share, in dividends to common shareholders Leased over 900,000 square feet through 11 leases and one tenant expansion project, resulting in nearly $20.2 million of net new straight-line rent over a weighted-average lease term of 6.0 years Portfolio 97.7% leased with 7.6 years of weighted average remaining lease term1 Contractual annual rent increases in 94.7%2 of leases with an average increase of 1.2% per year, including but not limited to 60.1% that are fixed-rate increases and 27.5% that are based on Consumer Price Index Approximately 60.0% of annualized straight-line rent comes from Investment Grade or implied Investment Grade tenants3 "We made great progress on our key strategic objectives during the quarter as we executed substantial lease renewals and extensions and focused on our industrial and distribution assets, which comprise 55.0% of our portfolio," said James Nelson, CEO of GNL.

GLOBAL NET LEASE REPORTS SECOND QUARTER 2023 RESULTS

The Necessity Retail (RTL) came out with quarterly funds from operations (FFO) of $0.21 per share, missing the Zacks Consensus Estimate of $0.23 per share. This compares to FFO of $0.29 per share a year ago.

The Necessity Retail (RTL) Q2 FFO and Revenues Miss Estimates

Company to Host Investor Webcast and Conference Call at 11:00 AM ET Today NEW YORK , Aug. 2, 2023 /PRNewswire/ -- The Necessity Retail REIT, Inc. (Nasdaq: RTL) ("RTL" or the "Company"), a real estate investment trust focused on acquiring and managing a diversified portfolio of primarily service-oriented and traditional retail and distribution related commercial real estate properties in the U.S., announced today its financial and operating results for the second quarter ended June 30, 2023. Second Quarter 2023 and Subsequent Events Highlights        Announced merger agreement with Global Net Lease, Inc. (NYSE:GNL), stockholder meeting to take place on September 8th and upon approval is expected to close in September, 2023 ◦ All stock transaction would represent a 35% premium to RTL's 30-day volume-weighted average price, based on share prices as of the date of the transaction announcement on May 23, 2023 Anticipated 12% increase in quarterly dividend for RTL common stockholders Expected to create the third largest publicly traded net lease REIT with a global presence The combined company expected to benefit from increased size, reduced borrowing costs on existing credit facilities, and cost savings as a result of corporate synergies and the internalization of GNL's and RTL's management Revenue was $106.7 million compared to $116.9 million, including a non-recurring termination fee of $5.7 million, in the second quarter 2022 Net loss attributable to common stockholders was $53.5 million versus $56.3 million for the second quarter 2022 Cash net operating income ("Cash NOI") was $81.3 million compared $86.3 million for the second quarter 2022, lower in part due to strategic dispositions in the first half of 2023 Funds from Operations ("FFO") was $0.5 million due in part to proxy-related expenses of $16.0 million and $4.9 million of merger and transaction costs, compared to $35.7 million in the second quarter 2022 Adjusted Funds from Operations ("AFFO") was $27.9 million, or $0.21 per share, compared to $38.5 million, or $0.29 per share, in second quarter 2022, which included a $5.7 million termination fee Paid dividends on common stock of $28.5 million or $0.21 per share Reduced net debt6 by approximately $74.0 million compared to net debt outstanding at the end of first quarter 2023 Portfolio occupancy of 92.7% up 1.9% from 90.8% at the end of the second quarter of 2022, with Executed Occupancy plus Leasing Pipeline1 of 94.4% Leased over 710,000 square feet through 26 new leases and 41 renewed leases in the multi-tenant segment, and over 248,000 square feet through 17 renewed leases in our single-tenant segment, for a combined $13.3 million of annualized straight-line rent Positive spread of 4.6% on multi-tenant lease renewals compared to prior leases Dispositions of $100.8 million in the quarter bringing year to date dispositions to $172.2 million of non-strategic assets "We continue to see strong demand for high-quality retail space across our portfolio from credit-worthy national tenants," said Michael Weil, CEO of RTL.

THE NECESSITY RETAIL REIT ANNOUNCES SECOND QUARTER 2023 RESULTS

NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of The Necessity Retail REIT Inc. (“RTL” or the “Company”) (NasdaqGS: RTL) to Global Net Lease Inc. (NYSE: GNL). Under the terms of the proposed transaction, shareholders of RTL will receive 0.670 shares of GNL for each share of RTL that they own. KSF is seeking to determine whether this consideration and the pro.

THE NECESSITY RETAIL REIT INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of The Necessity Retail REIT Inc. - RTL

GNL's Board has Refused to Commit to Important Governance Enhancements Unless Shareholders Approve the Proposed Merger NEW YORK, July 20, 2023 /PRNewswire/ -- Orange Capital Ventures, LP ("Orange Capital"), a New York-based investment firm, today issued the following statement outlining its serious concerns about what it believes are blatantly coercive tactics employed by the Global Net Lease, Inc. (NYSE: GNL) ("GNL" or the "Company") Board of Directors (the "Board") regarding the proposed merger (the "Merger") with Necessity Retail REIT (Nasdaq: RTL) ("RTL").  We are alarmed that to date the Board has failed to commit to enacting its own proposed governance enhancements absent shareholders approving what we believe will be a highly contested vote on the proposed merger with RTL.

Orange Capital Outlines Strong-arm Tactics Deployed by Global Net Lease, Inc. Board Regarding the Proposed Merger with Necessity Retail REIT

Special Meetings Scheduled for September 8, 2023 Merger Expected to Close in September 2023 NEW YORK , July 19, 2023 /PRNewswire/ -- Global Net Lease, Inc. ("GNL" or "the Company") (NYSE: GNL/ GNL PRA / GNL PRB) and The Necessity Retail REIT, Inc. (NASDAQ: RTL, "RTL") announced today that the U.S. Securities and Exchange Commission ("SEC") has declared effective the Registration Statement on Form S-4 (the "Registration Statement") of GNL in connection with its previously announced proposed merger with RTL and internalization of management, and the details of a special meeting for stockholders of each company on September 8, 2023. Both GNL and RTL have fixed a record date of August 8, 2023, for participation in the special meetings of stockholders, which will be held on September 8, 2023, at 11:00 a.m.

Global Net Lease, Inc. and The Necessity Retail REIT, Inc. Announce Effectiveness of Registration Statement

RTL is currently paying its shareholders a double-digit 11.8% dividend yield. The retail REIT is set to merge with sister REIT Global Net Lease in the third quarter of 2023. Responsibility for the preferreds coupon will shift to Global Net Lease following the change of control.

Necessity Retail REIT: Should You Get Out Of The Commons Before Merger With Global Net Lease?

NEW YORK , July 13, 2023 /PRNewswire/ -- The Necessity Retail REIT, Inc. (Nasdaq: RTL/ RTLPP / RTLPO) ("RTL" or the "Company") announced today it will release its financial results for the second quarter ended June 30, 2023 on Wednesday, August 2, 2023 after the close of trading on the Nasdaq. The Company will host a conference call and audio webcast on Thursday, August 3, 2023, beginning at 11:00 a.m.

THE NECESSITY RETAIL REIT ANNOUNCES RELEASE DATE FOR SECOND QUARTER 2023 RESULTS

NEW YORK , July 6, 2023 /PRNewswire/ -- The Necessity Retail REIT, Inc. (Nasdaq: RTL/ RTLPP / RTLPO) ("RTL" or "the Company") announced today that it completed approximately 686,000 square feet of new and renewal leases (the "2Q Leases") with 57 tenants during the quarter ended June 30, 2023. The 2Q Leases total approximately $9.06 million in base rent during the first year of term.

The Necessity Retail REIT Completes Over 685,000 Square Feet, $9 Million of Leasing in Second Quarter

NEW YORK , July 5, 2023 /PRNewswire/ -- The Necessity Retail REIT, Inc. (Nasdaq: RTL/ RTLPP / RTLPO) ("RTL" or "the Company") announced today that it closed on the sale of 44 properties leased to Bob Evans restaurants for a total of $93 million. The properties sold are in Kentucky, Indiana, Ohio, Michigan, Delaware, Pennsylvania, Virginia, West Virginia, and Maryland.

The Necessity Retail REIT Completes $93 Million Bob Evans Disposition

NEW YORK , July 3, 2023 /PRNewswire/ -- The Necessity Retail REIT, Inc. (Nasdaq: RTL/ RTLPP / RTLPO) ("RTL") announced today that it declared quarterly dividends on its outstanding common stock. Specifically, RTL declared a dividend of $0.2125 per share of Class A common stock payable on July 17, 2023, to common stockholders of record at the close of business on July 13, 2023.

The Necessity Retail REIT Announces Common Stock Dividend

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Real estate expert Brad Thomas discusses the potential of a recession and how real estate investment trusts (REITs) can be used as insulation and income generation during such a period. He advises avoiding the hotel sector and limiting exposure to retail, while recommending investment in net lease, industrial, cell towers, and data centers.

Will REITs Stand Up To A Recession? Brad Thomas With Kirk Spano

NEW YORK , June 29, 2023 /PRNewswire/ -- The Necessity Retail REIT, Inc. (Nasdaq: RTL/ RTLPP / RTLPO) ("RTL" or "the Company") announced today that it held its Annual Meeting of shareholders. Preliminary results indicate that shareholders reelected Edward M.

The Necessity Retail REIT Announces 2023 Annual Shareholder Meeting Preliminary Results

I review two REITs. One is a Sell. The other is a Buy. One pays a 16% dividend yield. The other pays a 6.5% dividend yield. The two REITs in question are Global Net Lease and W.P. Carey.

1 Risky REIT To Avoid And 1 Stong Buy

MILWAUKEE , June 23, 2023 /PRNewswire/ -- Ademi LLP is investigating RTL (NASDAQ: RTL) for possible breaches of fiduciary duty and other violations of law in its transaction with GNL.  Click here to learn how to join the action https://www.ademilaw.com/case/necessity-retail-reit-inc or call Guri Ademi toll-free at 866-264-3995.

Shareholder Alert: Ademi LLP investigates whether The Necessity Retail REIT Inc. has obtained a Fair Price in its transaction with Global Net Lease Inc.

News for Necessity Retail REIT ETF (RTL)