61.6% of leases have weighted-average contractual rent increases of 1.0% based on annualized straight-line rent which increase the cash that is due under these leases over time.90.8% leased, with 7.2 years remaining weighted-average lease term 5.The Company's portfolio consisted of 1,056 net lease properties located in 47 states and the District of Columbia and comprised approximately 29.0 million rentable square feet as of June 30, 2022. We believe these activities, along with our world-class portfolio, will support continued value creation over the near and long-term."Īll per share data based on 132,629,704 and 110,898,056 diluted weighted-average shares outstanding for the three months ended Jand 2021, respectively. Our attention is now focused on capitalizing on the upside potential in our portfolio through the lease up of available space and on the resumption of our deleveraging initiative while continuing to pay a compelling dividend. Additionally, given that we locked in attractive fixed rates on 83% of our debt, we have limited exposure to the current higher interest rate environment. Our diversified, necessity-based retail portfolio is pandemic-tested and well positioned to perform across all economic cycles. "We had one of our best quarters since inception, with AFFO per share growing over 11% to $0.29 per share in the second quarter compared to a year ago and 32% over the fourth quarter of 2021, the last period prior to the acquisition of the open-air shopping center portfolio. "Our second quarter results reflect the anticipated accretion from the transformational $1.3 billion open-air shopping center portfolio acquisition that we recently completed," said Michael Weil, CEO of RTL. Subsequent to quarter-end, closed on acquisition of one property for $71.1 million, completing the previously announced $1.3 billion shopping center acquisition.Occupancy at open-air assets grew to 87.4% from 86.6% at second quarter 2021 and Executed Occupancy and Leasing Pipeline 4 at open-air shopping centers grew to 89.4% compared to 88.8% in the prior quarter.High quality portfolio with 52% of the single tenant portfolio, and 61.8% of top 20 tenants, investment grade rated or implied investment grade rated 3.Acquired 32 properties for $470.3 million at a cash capitalization rate 1 of 7.2% and a weighted average capitalization rate 2 8.6%.Paid dividends on common stock of $28.6 million or $0.21 per share.AFFO per share increased 32% compared to the fourth quarter 2021, the period prior to the $1.3 billion open-air shopping center portfolio acquisition.AFFO per share increased 11.5% to $0.29 per share from $0.26 per diluted share in the prior year second quarter.
Adjusted Funds from Operations ("AFFO") increased 31.7% to $38.5 million from $29.2 million in the prior year second quarter.Funds from Operations ("FFO") grew by 17.4% to $0.27 per share from $0.23 per share in the second quarter 2021.Cash net operating income ("NOI") rose 31.9% to $86.3 million from $65.4 million for the second quarter 2021.Net loss attributable to common stockholders was $56.3 million as compared to net loss of $7.4 million for the second quarter 2021.Revenue grew 43.3% to $116.9 million from $81.6 million for the second quarter 2021.Second Quarter 2022 and Subsequent Events Highlights
0 kommentar(er)
