The Necessity Retail REIT, Inc.
RTLPO
NASDAQ Global Select19.75
USD
-0.05
- -
CIK
0001568162
CUSIP
02607T505
Return %
Stock
S&P500
1Y
-2.24
26.53
3Y
-6.13
76.60
5Y
-6.13
80.11
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Edward Michael Weil Jr.
- Sector
- Real Estate
- Industry
- REIT - Diversified
- Address
- 650 Fifth Avenue New York City NY United States of America 10019
- IPO Date
- Dec 16, 2020
- CIK
- 0001568162
- Website
- necessityretailreit.com
- Similar Companies
- Business
- The Necessity Retail REIT, Inc. The Necessity Retail REIT, Inc. (RTLPO) operates as a real estate investment trust focused on acquiring, owning, and managing a diversified portfolio of necessity-based retail properties across the United States, including single-tenant net-leased freestanding properties and open-air multi-tenant shopping centers such as power centers and lifestyle centers; core tenants encompass service-oriented retailers in sectors like grocery stores, pharmacies, restaurants, banks, fitness centers, auto services, convenience stores, and home improvement outlets, with properties net leased primarily to investment-grade and creditworthy operators on long-term basis. The company, founded in 2013 and headquartered at 650 Fifth Avenue, 30th Floor, New York, New York, historically emphasized single-tenant service retail assets resistant to e-commerce disruption before strategically expanding into multi-tenant experiential retail through the 2022 acquisition of the CIM Portfolio comprising 79 centers and two single-tenant properties for $1.3 billion, completed in tranches by March 2022, which shifted its reportable segments to single-tenant (70% of portfolio) and multi-tenant (30%) properties as of late 2021. In September 2023, The Necessity Retail REIT, Inc. completed its acquisition by Global Net Lease, Inc. Global Net Lease, Inc., an all-stock merger forming a combined entity with over 1,350 properties valued at approximately $9.6 billion, internalizing management from prior external advisor AR Global to achieve annual cash savings of around $75 million while broadening into global net-lease industrial, office, and additional retail assets across 10 countries.