RTL - Necessity Retail REIT FFO of $0.27 beats by $0.03 revenue of $118.39M beats by $1.22M
- Necessity Retail REIT press release ( NASDAQ: RTL ): Q4 FFO of $0.27 beats by $0.03 .
- Revenue of $118.39M (+43.5% Y/Y) beats by $1.22M .
- Executed 83 new leases for 883,000 square feet in multi-tenant portfolio that will contribute $8.1 million of annualized straight-line rent
- Executed 138 lease renewals for over 1.7 million square feet in multi-tenant portfolio that will contribute $23.0 million in annualized straight-line rent
- Occupancy rose 2.2% to 89.8% from 87.6% as of the end of 2021 at open-air assets and Executed Occupancy and Leasing Pipeline 1 at open-air shopping centers grew to 92.4% compared to 89.4% as of the end of 2021
- Acquired 95 properties for $1.4 billion at a cash capitalization rate 2 of 7.2% and a weighted average capitalization rate 3 8.6%
- High quality portfolio with 53.8% of tenants in single-tenant portfolio and 61.2% of the top 20 tenants, investment grade rated or implied investment grade rated.
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Necessity Retail REIT FFO of $0.27 beats by $0.03, revenue of $118.39M beats by $1.22M