RPT Realty is a self-managed real estate investment trust that invests in and manages retail properties. The company 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's property portfolio consisted of 44 wholly-owned shopping centers, 13 shopping centers owned through its grocery-anchored joint venture, 48 retail properties owned through its net lease joint venture and one net lease retail property that was held for sale by the Company which together represent 15.0 million square feet of gross leasable area.
In REITs, as the accounting net income is distorted, it ends up being inefficient to use the Earnings per share (EPS), so the FFO is used in the formula instead of the Net Income.
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