RPT Realty Reports First Quarter 2019 Results; Raises Full Year 2019 Outlook
NEW YORK, May 01, 2019 (GLOBE NEWSWIRE) -- RPT Realty (NYSE: RPT ) (the "Company") today announced its financial and operating results for the quarter ended March 31, 2019. FIRST QUARTER 2019 HIGHLIGHTS First quarter net income attributable to common shareholders of $8.8 million or $0.11 per diluted share. First quarter Nareit-defined Funds from Operations ("FFO") of $0.27 per diluted share and Operating Funds from Operations ("Operating FFO") of $0.27 per diluted share. Same property net operating income ("Same property NOI") increased 4.6% in the first quarter as compared to the same period in the prior year, driven by a 4.2% increase in base rent. Rents on comparable new and renewal leases signed in the first quarter increased 16.7%. As of March 31, 2019, the consolidated portfolio leased rate was 94.8%, up 50 basis points sequentially and up 120 basis points year-over-year. As of March 31, 2019, spaces less than 10,000 square feet ("Small Shop") were 89.6% leased, up 80 basis points sequentially and up 290 basis points year-over-year.
RPT Realty Reports First Quarter 2019 Results; Raises Full Year 2019 Outlook
NEW YORK, May 01, 2019 (GLOBE NEWSWIRE) -- RPT Realty (NYSE: RPT ) (the "Company") today announced its financial and operating results for the quarter ended March 31, 2019. FIRST QUARTER 2019 HIGHLIGHTS First quarter net income attributable to common shareholders of $8.8 million or $0.11 per diluted share. First quarter Nareit-defined Funds from Operations ("FFO") of $0.27 per diluted share and Operating Funds from Operations ("Operating FFO") of $0.27 per diluted share. Same property net operating income ("Same property NOI") increased 4.6% in the first quarter as compared to the same period in the prior year, driven by a 4.2% increase in base rent. Rents on comparable new and renewal leases signed in the first quarter increased 16.7%. As of March 31, 2019, the consolidated portfolio leased rate was 94.8%, up 50 basis points sequentially and up 120 basis points year-over-year. As of March 31, 2019, spaces less than 10,000 square feet ("Small Shop") were 89.6% leased, up 80 basis points sequentially and up 290 basis points year-over-year.