Reported Earnings • May 12
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: ₱0.12 (up from ₱0.10 in 1Q 2025). Revenue: ₱3.39b (up 86% from 1Q 2025). Net income: ₱2.34b (up 41% from 1Q 2025). Profit margin: 69% (down from 91% in 1Q 2025). Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 3.6%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Office REITs industry in Asia. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Declared Dividend • May 07
Fourth quarter dividend of ₱0.11 announced Shareholders will receive a dividend of ₱0.11. Ex-date: 18th May 2026 Payment date: 1st June 2026 Dividend yield will be 6.2%, which is lower than the industry average of 7.5%. Buy Or Sell Opportunity • Mar 30
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to ₱6.57. The fair value is estimated to be ₱8.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 57% in 2 years. Earnings are forecast to decline by 65% in the next 2 years. Announcement • Mar 13
RL Commercial REIT, Inc., Annual General Meeting, May 13, 2026 RL Commercial REIT, Inc., Annual General Meeting, May 13, 2026, at 14:00 W. Australia Standard Time. Location: bit.ly/rcr_asm2026, Philippines Reported Earnings • Mar 02
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: ₱1.72 (up from ₱1.40 in FY 2024). Revenue: ₱11.0b (up 67% from FY 2024). Net income: ₱29.1b (up 71% from FY 2024). Revenue exceeded analyst estimates by 6.2%. Earnings per share (EPS) also surpassed analyst estimates by 8.8%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Office REITs industry in Asia. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Declared Dividend • Feb 07
Third quarter dividend increased to ₱0.11 Dividend of ₱0.11 is 10% higher than last year. Ex-date: 19th February 2026 Payment date: 2nd March 2026 Dividend yield will be 5.7%, which is lower than the industry average of 7.5%. Major Estimate Revision • Dec 05
Consensus revenue estimates decrease by 15% The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from ₱9.94b to ₱8.48b. EPS estimate reaffirmed at ₱0.475. Net income forecast to shrink 55% next year vs 9.7% growth forecast for Office REITs industry in Philippines . Consensus price target broadly unchanged at ₱8.30. Share price rose 3.6% to ₱7.98 over the past week. Reported Earnings • Nov 11
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: ₱0.13. Revenue: ₱3.04b (up 29% from 3Q 2024). Net income: ₱2.12b (up 3.9% from 3Q 2024). Profit margin: 70% (down from 86% in 3Q 2024). Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Office REITs industry in Asia. Declared Dividend • Nov 09
Second quarter dividend of ₱0.11 announced Shareholders will receive a dividend of ₱0.11. Ex-date: 20th November 2025 Payment date: 2nd December 2025 Dividend yield will be 5.8%, which is lower than the industry average of 7.5%. New Risk • Sep 21
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 108% Dividend yield: 5.1% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 23% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (82% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (108% cash payout ratio). Large one-off items impacting financial results. Buy Or Sell Opportunity • Aug 26
Now 22% undervalued Over the last 90 days, the stock has risen 19% to ₱7.74. The fair value is estimated to be ₱9.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 69%. Revenue is forecast to grow by 57% in 2 years. Earnings are forecast to decline by 47% in the next 2 years. Reported Earnings • Aug 12
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: ₱0.11 (up from ₱0.10 in 2Q 2024). Revenue: ₱2.30b (up 95% from 2Q 2024). Net income: ₱1.68b (up 52% from 2Q 2024). Profit margin: 73% (down from 94% in 2Q 2024). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 8.6%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Office REITs industry in Asia. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Declared Dividend • Aug 10
First quarter dividend of ₱0.10 announced Shareholders will receive a dividend of ₱0.10. Ex-date: 22nd August 2025 Payment date: 2nd September 2025 Dividend yield will be 5.3%, which is lower than the industry average of 7.5%. Buy Or Sell Opportunity • Aug 07
Now 21% undervalued Over the last 90 days, the stock has risen 20% to ₱7.90. The fair value is estimated to be ₱9.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 63%. Revenue is forecast to grow by 68% in 2 years. Earnings are forecast to decline by 48% in the next 2 years. Price Target Changed • Jun 30
Price target increased by 7.1% to ₱8.10 Up from ₱7.56, the current price target is an average from 5 analysts. New target price is 9.2% above last closing price of ₱7.42. Stock is up 42% over the past year. The company is forecast to post earnings per share of ₱0.48 for next year compared to ₱1.40 last year. New Risk • Jun 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 39% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 39% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (46% increase in shares outstanding). Minor Risk Large one-off items impacting financial results. Major Estimate Revision • May 20
Consensus revenue estimates increase by 11%, EPS downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from ₱9.74b to ₱10.8b. EPS estimate fell from ₱0.472 to ₱0.466. Net income forecast to shrink 57% next year vs 2.0% growth forecast for Office REITs industry in Philippines . Consensus price target up from ₱7.10 to ₱7.32. Share price was steady at ₱6.54 over the past week. Announcement • May 07
RL Commercial REIT, Inc. Announces Board and Committee Appointments RL Commercial REIT, Inc. held Annual Meeting of the Shareholders on May 07, 2025, announced election of Maria Socorro Isabelle V. Aragon-GoBio as Director. The company added Maria Socorro Isabelle V. Aragon-GoBio as member to Executive Committee and added Cesar Luis F. Bate as Chairman, Artemio V. Panganiban and Wilfredo A. Paras as Members of Related Party Transaction Committee. Reported Earnings • May 07
First quarter 2025 earnings released: EPS: ₱0.11 (vs ₱0.10 in 1Q 2024) First quarter 2025 results: EPS: ₱0.11 (up from ₱0.10 in 1Q 2024). Revenue: ₱2.25b (up 88% from 1Q 2024). Net income: ₱1.66b (up 47% from 1Q 2024). Profit margin: 74% (down from 94% in 1Q 2024). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Office REITs industry in Asia. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Apr 28
Now 20% undervalued Over the last 90 days, the stock has risen 9.8% to ₱6.48. The fair value is estimated to be ₱8.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 53%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are forecast to decline by 33% per annum over the same time period. Buy Or Sell Opportunity • Mar 21
Now 21% undervalued Over the last 90 days, the stock has risen 12% to ₱6.43. The fair value is estimated to be ₱8.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 53%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are forecast to decline by 32% per annum over the same time period. Major Estimate Revision • Mar 18
Consensus revenue estimates increase by 19% The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from ₱8.53b to ₱10.1b. EPS estimate unchanged from ₱0.47 at last update. Office REITs industry in Philippines expected to see average net income growth of 6.1% next year. Consensus price target up from ₱7.03 to ₱7.18. Share price rose 3.3% to ₱6.63 over the past week. Reported Earnings • Mar 11
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: ₱1.40 (up from ₱1.07 in FY 2023). Revenue: ₱8.08b (up 79% from FY 2023). Net income: ₱17.0b (up 48% from FY 2023). Revenue exceeded analyst estimates by 5.6%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the Office REITs industry in Asia. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 08
Third quarter dividend of ₱0.10 announced Shareholders will receive a dividend of ₱0.10. Ex-date: 19th February 2025 Payment date: 28th February 2025 Dividend yield will be 7.1%, which is lower than the industry average of 7.5%. Announcement • Feb 06
RL Commercial REIT, Inc., Annual General Meeting, May 07, 2025 RL Commercial REIT, Inc., Annual General Meeting, May 07, 2025, at 14:00 W. Australia Standard Time. Location: (link to be provided), Philippines New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 46% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 25% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (46% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (141% cash payout ratio). Large one-off items impacting financial results. Major Estimate Revision • Dec 06
Consensus revenue estimates increase by 25% The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from ₱6.17b to ₱7.69b. EPS estimate increased from ₱0.435 to ₱0.453 per share. Net income forecast to shrink 52% next year vs 5.9% growth forecast for Office REITs industry in Philippines . Consensus price target down from ₱6.98 to ₱6.75. Share price was steady at ₱5.90 over the past week. Reported Earnings • Nov 09
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: ₱0.19 (up from ₱0.099 in 3Q 2023). Revenue: ₱2.97b (up 172% from 3Q 2023). Net income: ₱2.04b (up 93% from 3Q 2023). Profit margin: 69% (down from 97% in 3Q 2023). Revenue exceeded analyst estimates by 103%. Earnings per share (EPS) also surpassed analyst estimates by 65%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Office REITs industry in Asia. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Declared Dividend • Nov 08
Second quarter dividend of ₱0.13 announced Shareholders will receive a dividend of ₱0.13. Ex-date: 19th November 2024 Payment date: 29th November 2024 Dividend yield will be 6.9%, which is lower than the industry average of 7.5%. Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: ₱0.10 (vs ₱0.10 in 2Q 2023) Second quarter 2024 results: EPS: ₱0.10 (up from ₱0.10 in 2Q 2023). Revenue: ₱1.42b (up 25% from 2Q 2023). Net income: ₱1.10b (up 1.0% from 2Q 2023). Profit margin: 78% (down from 96% in 2Q 2023). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Office REITs industry in Asia. Declared Dividend • Aug 11
First quarter dividend of ₱0.099 announced Shareholders will receive a dividend of ₱0.099. Ex-date: 23rd August 2024 Payment date: 2nd September 2024 Dividend yield will be 6.9%, which is lower than the industry average of 7.5%. Major Estimate Revision • Jun 19
Consensus revenue estimates increase by 10% The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from ₱5.61b to ₱6.20b. EPS estimate increased from ₱0.414 to ₱0.428 per share. Net income forecast to shrink 54% next year vs 3.7% growth forecast for Office REITs industry in Philippines . Consensus price target down from ₱7.03 to ₱6.88. Share price was steady at ₱5.30 over the past week. Reported Earnings • May 10
First quarter 2024 earnings released: EPS: ₱0.10 (vs ₱0.10 in 1Q 2023) First quarter 2024 results: EPS: ₱0.10 (up from ₱0.10 in 1Q 2023). Revenue: ₱1.43b (up 27% from 1Q 2023). Net income: ₱1.12b (up 3.5% from 1Q 2023). Profit margin: 79% (down from 96% in 1Q 2023). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Office REITs industry in Asia. Declared Dividend • May 06
Fourth quarter dividend increased to ₱0.099 Dividend of ₱0.099 is 1.3% higher than last year. Ex-date: 16th May 2024 Payment date: 31st May 2024 Dividend yield will be 7.7%, which is about the same as the industry average. Reported Earnings • Mar 20
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: ₱1.07 (up from ₱0.54 loss in FY 2022). Revenue: ₱5.45b (up 25% from FY 2022). Net income: ₱11.5b (up ₱17.0b from FY 2022). Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 5.9%. Revenue is forecast to grow 5.9% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Office REITs industry in Asia. Announcement • Mar 09
RL Commercial REIT, Inc., Annual General Meeting, May 06, 2024 RL Commercial REIT, Inc., Annual General Meeting, May 06, 2024, at 13:30 Singapore Standard Time. Upcoming Dividend • Feb 12
Upcoming dividend of ₱0.098 per share at 7.1% yield Eligible shareholders must have bought the stock before 19 February 2024. Payment date: 29 February 2024. Trailing yield: 7.1%. Within top quartile of Filipino dividend payers (5.6%). In line with average of industry peers (7.3%). Declared Dividend • Feb 07
Third quarter dividend increased to ₱0.098 Dividend of ₱0.098 is 0.4% higher than last year. Ex-date: 19th February 2024 Payment date: 29th February 2024 Dividend yield will be 7.1%, which is about the same as the industry average. Announcement • Jan 09
RL Commercial REIT, Inc. Elects Faraday D. Go as Member and Chairman of the Board of Directors The Board of Directors of RL Commercial REIT, Inc. (RCR) has duly elected Mr. Faraday D. Go as member and Chairman of the Board of Directors of RCR, effective January 8, 2024. Announcement • Dec 20
RL Commercial REIT, Inc. Announces Board Changes, Effective January 8, 2024 Board of Directors of RL Commercial REIT, Inc. (RCR) has duly accepted the resignation of Mr. Frederick D. Go as Chairman and member of the Board of Directors of RCR effective January 8, 2024. The Board likewise approved the appointment of Mr. Lance Y. Gokongwei as Chairman of the Board of RCR and the appointment of Mr. Faraday D. Go as member of the Board of RCR, effective January 8, 2024. Upcoming Dividend • Nov 13
Upcoming dividend of ₱0.098 per share at 8.3% yield Eligible shareholders must have bought the stock before 20 November 2023. Payment date: 30 November 2023. Trailing yield: 8.3%. Within top quartile of Filipino dividend payers (5.5%). In line with average of industry peers (7.9%). Reported Earnings • Nov 11
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: ₱0.099 (down from ₱0.11 in 3Q 2022). Revenue: ₱1.32b (up 14% from 3Q 2022). Net income: ₱1.06b (down 7.0% from 3Q 2022). Profit margin: 80% (down from 98% in 3Q 2022). Revenue missed analyst estimates by 6.0%. Earnings per share (EPS) also missed analyst estimates by 7.4%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Office REITs industry in Asia. Reported Earnings • Aug 12
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: EPS: ₱0.10 (up from ₱0.10 in 2Q 2022). Revenue: ₱1.37b (up 32% from 2Q 2022). Net income: ₱1.09b (up 9.4% from 2Q 2022). Profit margin: 80% (down from 97% in 2Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.1%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Office REITs industry in Asia. Announcement • Aug 12
RL Commercial REIT, Inc. Declares Second Regular Cash Dividend for the Period from Period April 1, 2023 to June 30, 2023, Payable on August 31, 2023 On August 9, 2023, the RL Commercial REIT, Inc.'s board of directors approved the declaration of its second regular cash dividends for calendar year 2023 covering the period April 1 to June 30, 2023 at PHP 0.0978 per outstanding common share to stockholders on record date as of August 24, 2023. The cash dividend will be payable on August 31, 2023. Upcoming Dividend • May 10
Upcoming dividend of ₱0.098 per share at 6.6% yield Eligible shareholders must have bought the stock before 17 May 2023. Payment date: 31 May 2023. Trailing yield: 6.6%. Within top quartile of Filipino dividend payers (5.8%). In line with average of industry peers (6.6%). Board Change • Mar 28
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Artemio Panganiban was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Mar 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.6%. The fair value is estimated to be ₱7.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 94% over the last 3 years. Earnings per share has grown by 62%. Revenue is forecast to grow by 38% in 2 years. Earnings is forecast to grow by 2.5% in the next 2 years. Buying Opportunity • Feb 17
Now 22% undervalued Over the last 90 days, the stock is up 4.7%. The fair value is estimated to be ₱7.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 94% over the last 3 years. Earnings per share has grown by 62%. Revenue is forecast to grow by 39% in 2 years. Earnings is forecast to decline by 0.6% in the next 2 years. Buying Opportunity • Jan 24
Now 20% undervalued Over the last 90 days, the stock is up 20%. The fair value is estimated to be ₱7.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 94% over the last 3 years. Earnings per share has grown by 62%. Revenue is forecast to grow by 39% in 2 years. Earnings is forecast to decline by 0.6% in the next 2 years. Buying Opportunity • Jan 09
Now 21% undervalued Over the last 90 days, the stock is up 15%. The fair value is estimated to be ₱7.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 94% over the last 3 years. Earnings per share has grown by 62%. Revenue is forecast to grow by 39% in 2 years. Earnings is forecast to decline by 0.6% in the next 2 years. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Artemio Panganiban was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Sep 23
Price target decreased to ₱7.48 Down from ₱8.21, the current price target is an average from 4 analysts. New target price is 36% above last closing price of ₱5.50. Stock is down 15% over the past year. The company is forecast to post earnings per share of ₱0.40 for next year compared to ₱0.40 last year. Upcoming Dividend • May 16
Upcoming dividend of ₱0.097 per share Eligible shareholders must have bought the stock before 23 May 2022. Payment date: 31 May 2022. Trailing yield: 2.6%. Lower than top quartile of Filipino dividend payers (4.9%). Lower than average of industry peers (4.8%). Announcement • May 13
RL Commercial REIT, Inc. Elects Lance Y. Gokongwei as Director RL Commercial REIT, Inc. announced that at its AGM held on May 12, 2022, the shareholders elected Lance Y. Gokongwei as director of the company. Announcement • May 12
RL Commercial REIT, Inc. Announces Assistant Corporate Secretary Changes RL Commercial REIT, Inc. informed that effective end of business day of May 10, 2022, Ronald Agustin R. Estrada shall cease to be the Assistant Corporate Secretary of company. Iris Fatima V. Cero shall be appointed as the Assistant Corporate Secretary effective May 10, 2022. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Feb 07
RL Commercial REIT, Inc. Declares Cash Dividend for the Fourth Quarter of 2021, Payable on February 28, 2022 RL Commercial REIT, Inc. declared its second cash dividend, following its Board of Directors meeting . The RCR Board approved the declaration of cash dividends for the fourthquarter of 2021 in the amount of PHP 0.092 per outstanding common share, bringing its total dividends to PHP 0.154 per share. Based on the IPO price, this is equivalent to an annualized yield of 5.73%, higher than RCR's dividend yield projection of 5.57% for 2021 according to its REIT plan. The cash dividends will be payable on 28 February 2022 to stockholders on record as of 18 February 2022. RCR's total dividend pay-out in 2021 is equivalent to 91.56% of its distributable income, higher than the minimum mandated level of 90%. RCR projected a dividend yield of 5.96% based on its IPO price of Php6.45 per share. Announcement • Sep 15
RL Commercial REIT, Inc. has completed an IPO in the amount of PHP 21.561473 billion. RL Commercial REIT, Inc. has completed an IPO in the amount of PHP 21.561473 billion.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 3,342,864,000
Price\Range: PHP 6.45
Security Features: Income Trust
Transaction Features: Regulation S; Rule 144A 
