RPT Realty
Market Cap
US$1.2b
Last Updated
2020/02/23 01:11 UTC
Data Sources
Company Financials +
Executive Summary
RPT Realty owns and operates a national portfolio of open-air shopping destinations principally located in top U.S.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -94.4% per year for the next 3 years
Snowflake Analysis
Undervalued with proven track record and pays a dividend.
Similar Companies
Share Price & News
How has RPT Realty's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: RPT has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-0.3%
RPT
-0.07%
US REITs
-1.1%
US Market
1 Year Return
15.1%
RPT
16.0%
US REITs
17.9%
US Market
Return vs Industry: RPT matched the US REITs industry which returned 16% over the past year.
Return vs Market: RPT underperformed the US Market which returned 17.9% over the past year.
Shareholder returns
| RPT | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.3% | -0.07% | -1.1% |
| 30 Day | -1.3% | 3.6% | 1.4% |
| 90 Day | 1.2% | 7.8% | 6.9% |
| 1 Year | 23.2%15.1% | 20.7%16.0% | 20.3%17.9% |
| 3 Year | 13.7%-6.9% | 37.9%20.6% | 47.8%38.3% |
| 5 Year | 5.6%-21.7% | 60.3%27.3% | 71.9%53.0% |
Price Volatility Vs. Market
How volatile is RPT Realty's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Does The RPT Realty (NYSE:RPT) Share Price Fall With The Market?1 month ago | Simply Wall St
Who Has Been Buying RPT Realty (NYSE:RPT) Shares?2 months ago | Simply Wall St
Read This Before Judging RPT Realty's (NYSE:RPT) ROEValuation
Is RPT Realty undervalued compared to its fair value and its price relative to the market?
46.2%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: RPT ($14.66) is trading below our estimate of fair value ($27.26)
Significantly Below Fair Value: RPT is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: RPT is good value based on its PE Ratio (13.8x) compared to the REITs industry average (37.2x).
PE vs Market: RPT is good value based on its PE Ratio (13.8x) compared to the US market (18.2x).
Price to Earnings Growth Ratio
PEG Ratio: RPT's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: RPT is good value based on its PB Ratio (1.6x) compared to the US REITs industry average (2.1x).
Next Steps
Future Growth
How is RPT Realty forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
-94.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: RPT's earnings are forecast to decline over the next 3 years (-94.4% per year).
Earnings vs Market: RPT's earnings are forecast to decline over the next 3 years (-94.4% per year).
High Growth Earnings: RPT's earnings are forecast to decline over the next 3 years.
Revenue vs Market: RPT's revenue (0.06% per year) is forecast to grow slower than the US market (7.6% per year).
High Growth Revenue: RPT's revenue (0.06% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: RPT's Return on Equity is forecast to be low in 3 years time (0.3%).
Next Steps
Past Performance
How has RPT Realty performed over the past 5 years?
6.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: RPT has a large one-off gain of $79.9M impacting its December 31 2019 financial results.
Growing Profit Margin: RPT's current net profit margins (36.2%) are higher than last year (4%).
Past Earnings Growth Analysis
Earnings Trend: RPT has become profitable over the past 5 years, growing earnings by 6.4% per year.
Accelerating Growth: RPT's earnings growth over the past year (711%) exceeds its 5-year average (6.4% per year).
Earnings vs Industry: RPT earnings growth over the past year (711%) exceeded the REITs industry 7.6%.
Return on Equity
High ROE: RPT's Return on Equity (11%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is RPT Realty's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: RPT has a high level of physical assets or inventory.
Debt Coverage by Assets: RPT's debt is not covered by short term assets (assets are 0.1x debt).
Financial Institutions Analysis
Asset Level: RPT's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if RPT has a sufficient allowance for bad loans.
Low Risk Liabilities: RPT reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if RPT has an acceptable proportion of non-loan assets held.
Low Risk Deposits: RPT has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if RPT has an appropriate level of bad loans.
Next Steps
Dividend
What is RPT Realty's current dividend yield, its reliability and sustainability?
6.00%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: RPT's dividend (6%) is higher than the bottom 25% of dividend payers in the US market (1.45%).
High Dividend: RPT's dividend (6%) is in the top 25% of dividend payers in the US market (3.73%)
Stability and Growth of Payments
Stable Dividend: RPT's dividend payments have been volatile in the past 10 years.
Growing Dividend: RPT's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (95.1%), RPT's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: RPT's dividends in 3 years are forecast to be thoroughly covered by earnings (0.9% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
1.6yrs
Average management tenure
CEO
Brian Harper (43yo)
1.7yrs
Tenure
US$8,047,751
Compensation
Mr. Brian L. Harper is the President, CEO & Trustee at RPT Realty since June 15, 2018. He served as Chief Executive Officer of Rouse Properties, Inc. since September 2016 and served as its Chief Operating ...
CEO Compensation Analysis
Compensation vs Market: Brian's total compensation ($USD8.05M) is above average for companies of similar size in the US market ($USD3.81M).
Compensation vs Earnings: Insufficient data to compare Brian's compensation with company performance.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.7yrs | US$8.05m | 0.32% $3.9m | |
| Executive VP & CFO | 1.7yrs | US$1.40m | 0.062% $743.9k | |
| Senior VP & Chief Accounting Officer | 2.9yrs | US$568.28k | 0.020% $241.3k | |
| Executive Vice President of Leasing | 1.5yrs | US$943.71k | 0.042% $508.9k | |
| Senior Vice President of Investments | 0.6yrs | no data | no data | |
| Senior VP | 2yrs | no data | no data | |
| Head of Human Resources | 0yrs | no data | no data | |
| Senior Vice President of Asset Management | 0yrs | no data | no data | |
| Senior Vice President of Development | 1.4yrs | no data | no data | |
| Vice President of Finance | 1.5yrs | no data | no data |
1.6yrs
Average Tenure
44yo
Average Age
Experienced Management: RPT's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.7yrs | US$8.05m | 0.32% $3.9m | |
| Independent Trustee | 1.2yrs | US$53.78k | 0.014% $169.0k | |
| Independent Trustee | 31.7yrs | US$150.00k | 0.13% $1.6m | |
| Independent Trustee | 8yrs | US$165.00k | 0.080% $965.4k | |
| Independent Trustee | 0.8yrs | no data | 0.0096% $115.4k | |
| Independent Trustee | 4.3yrs | US$155.00k | 0.035% $423.0k | |
| Independent Trustee | 1.4yrs | US$82.54k | 0.016% $192.5k |
1.7yrs
Average Tenure
64yo
Average Age
Experienced Board: RPT's board of directors are not considered experienced ( 1.7 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
RPT Realty's company bio, employee growth, exchange listings and data sources
Key Information
- Name: RPT Realty
- Ticker: RPT
- Exchange: NYSE
- Founded: 1997
- Industry: Retail REITs
- Sector: Real Estate
- Implied Market Cap: US$1.206b
- Market Cap: US$1.178b
- Shares outstanding: 82.28m
- Website: https://rptrealty.com
Number of Employees
Location
- RPT Realty
- 19 West 44th Street
- Suite 1002
- New York
- New York
- 10036
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| RPT | NYSE (New York Stock Exchange) | Yes | Common Shares | US | USD | Dec 1988 |
| R4F | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Dec 1988 |
| 0A1L | LSE (London Stock Exchange) | Yes | Common Shares | GB | EUR | Dec 1988 |
Biography
RPT Realty owns and operates a national portfolio of open-air shopping destinations principally located in top U.S. markets. The Company's shopping centers offer diverse, locally-curated consumer experiences that reflect the lifestyles of their surrounding communities and meet the modern expectations of the Company's retail partners. The Company is a fully integrated and self-administered REIT publicly traded on the New York Stock Exchange (the “NYSE”). The common shares of the Company, par value $0.01 per share (the “common shares”) are listed and traded on the NYSE under the ticker symbol “RPT”. As of December 31, 2019, our property portfolio consisted of 49 shopping centers (including five shopping centers owned through a joint venture) representing 11.9 million square feet of gross leasable area (“GLA”). As of December 31, 2019, the Company's pro-rata share of the aggregate portfolio was 94.7% leased.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/23 01:11 |
| End of Day Share Price | 2020/02/21 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.