Private company

Necessity Retail REIT, Inc.

Necessity Retail REIT, Inc. is an American real estate investment trust based in New York.1

Last updated Oct 20, 2026.

Overview

  • IndustryReal Estate Investment Trusts1
  • HeadquartersNew York, New York1
  • Incorporated inMD2
  • Business address650 Fifth Ave, 30Th Floor, New York, Ny 100192
  • Filer categoryLarge accelerated filer2
  • Legal formCorporation
  • Kind of organizationReal estate investment trust1

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2022

7.4%Operating margin3
-18.5%Net margin3
33.2%Revenue growth, 20223
-5.3%Return on equity3

Where the money goes

Where each dollar of revenue went, fiscal 2022

  • Other costs73¢$327.5M
  • Interest27¢$118.9M

Out of $446.4M in revenue.3 The company lost money this year.

Where each dollar of operating cash went, fiscal 2022

  • Dividends paid72¢$111.8M
  • Share buybacks0¢$376.0K
  • Kept or used elsewhere28¢$42.7M

Out of $154.8M of cash from operations.3

Financial statements

Revenue45673$446.4M in 2022+151% since 2016
0$200.0M$400.0M$600.0M2016: $177.7M$177.7M20162017: $270.9M$270.9M2017+52%2018: $291.2M$291.2M2018+7%2019: $299.7M$299.7M2019+3%2020: $305.2M$305.2M2020+2%2021: $335.2M$335.2M2021+10%2022: $446.4M$446.4M2022+33%
Operating income45673$33.1M in 2022
-$20.0M0$20.0M$40.0M$60.0M$80.0M2016: -$165.0K-$165.0K20162017: $13.5M$13.5M20172018: $28.5M$28.5M2018+111%2019: $78.5M$78.5M2019+176%2020: $45.5M$45.5M2020−42%2021: $45.5M$45.5M2021−0%2022: $33.1M$33.1M2022−27%
Net income4573-$82.6M in 2022+52% since 2016
-$100.0M-$75.0M-$50.0M-$25.0M0$25.0M2016: -$54.3M-$54.3M20162017: -$46.5M-$46.5M2017−14%2018: -$37.4M-$37.4M2018−20%2019: $4.2M$4.2M20192020: -$31.9M-$31.9M20202021: -$40.2M-$40.2M2021+26%2022: -$82.6M-$82.6M2022+106%
Fiscal year2016201720182019202020212022
Revenue$177.7M4$270.9M5$291.2M6$299.7M7$305.2M3$335.2M3$446.4M3
Operating expenses$294.5M3$474.7M3
Operating income-$165.0K4$13.5M5$28.5M6$78.5M7$45.5M3$45.5M3$33.1M3
Interest$54.3M4$60.3M5$66.8M6$78.0M7$78.5M3$81.8M3$118.9M3
Net income-$54.3M4-$46.5M5-$37.4M5$4.2M7-$31.9M3-$40.2M3-$82.6M3
Earnings per share-$0.047-$0.443-$0.563-$0.813
Earnings per share (diluted)-$0.047-$0.443-$0.563-$0.813
Shares (weighted, basic)115.4M shares3132.0M shares3
Shares (weighted, diluted)115.4M shares3132.0M shares3

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Corporate structure

Necessity Retail REIT, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Necessity Retail REIT, Inc.

  • VANGUARD GROUP INC Filed SC 13G/A on Necessity Retail REIT, Inc., latest Feb 9, 2023 (2 filings since Feb 9, 2022)
  • State Street Corporation Filed SC 13G on Necessity Retail REIT, Inc., latest Feb 3, 2023
  • Necessity Retail REIT, Inc. New York, New York

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Necessity Retail REIT, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land$996.3M3 Dec 31, 2022$729.0M3 Dec 31, 2021+36.7%
Finance-lease assets$5.7M3 Dec 31, 2022
Operating-lease assets (leased space)$17.8M3 Dec 31, 2022$18.2M3 Dec 31, 2021−2.0%

Real estate and locations

ItemLatestA year beforeChange
Real estate investments, net$4.3B3 Dec 31, 2022$3.2B3 Dec 31, 2021+34.8%
Real estate investments, at cost$5.1B3 Dec 31, 2022$3.9B3 Dec 31, 2021+32.3%
Real estate accumulated depreciation$784.9M3 Dec 31, 2022$654.7M3 Dec 31, 2021+19.9%
Real estate properties1,0443 Dec 31, 20229767 Dec 31, 2021+7.0%
Area of real estate27.9 million sq ft3 Dec 31, 202220.0 million sq ft7 Dec 31, 2021+39.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$70.8M3 Dec 31, 2022$214.9M3 Dec 31, 2021−67.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$07 Dec 31, 2021$07 Dec 31, 2020
Intangible assets, net (excluding goodwill)$419.9M3 Dec 31, 2022$235.9M3 Dec 31, 2021+78.0%
Finite-lived intangibles, gross$644.6M3 Dec 31, 2022$402.7M3 Dec 31, 2021+60.1%
Accumulated amortization$224.7M3 Dec 31, 2022$166.8M3 Dec 31, 2021+34.7%

Leadership

Who has led Necessity Retail REIT, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Donald J. Mackinnon2015
  2. Edward M. Weil Jr.2015–2021

President

  1. Donald J. Mackinnon2015
  2. Edward M. Weil Jr.2015–2021
  3. Jason F. Doyle2023

Chief financial officer

  1. Nicholas Radesca2014–2015
  2. Donald R. Ramon2015
  3. Katie P. Kurtz2017–2021
  4. Jason F. Doyle2021–2023

Chief operating officer

  1. Edward M. Weil Jr.2014
  2. William M. Kahane2014
201520202025
Board members and other officers (10)

Former names

  • American Finance Trust, IncJun 23, 2015 to Feb 9, 20222
  • American Realty Capital Trust V, Inc.Feb 5, 2013 to Jun 22, 20152

Timeline

  1. Sep 12, 20238-K Ended a material agreement; Completed an acquisition or sale; Listing notice or transfer29
  2. Sep 8, 20238-K Shareholder vote30
  3. Sep 7, 20238-K Other events31
  4. Sep 5, 20238-K Entered a material agreement; New debt or obligation32
  5. Aug 31, 20238-K Regulation FD disclosure33
  6. Aug 9, 20238-K Other events34
  7. Aug 3, 20238-K Regulation FD disclosure35
  8. Aug 2, 20238-K Results of operations; Regulation FD disclosure36
  9. Aug 2, 20238-K Regulation FD disclosure37
  10. Jul 13, 20238-K Regulation FD disclosure38
  11. Jul 6, 20238-K Regulation FD disclosure39
  12. Jul 5, 20238-K Regulation FD disclosure40
  13. Dec 4, 2015New chief executive Edward M. Weil Jr. becomes CEO12
  14. May 22, 2015New chief executive Donald J. Mackinnon becomes CEO11

Calendar

When it reported results

  1. Aug 2, 2023Reported quarterly or annual results36
  2. May 10, 2023Reported quarterly or annual results41
  3. Feb 22, 2023Reported quarterly or annual results42
  4. Nov 2, 2022Reported quarterly or annual results43
  5. Aug 3, 2022Reported quarterly or annual results44
  6. May 4, 2022Reported quarterly or annual results45
  7. Feb 23, 2022Reported quarterly or annual results46
  8. Nov 3, 2021Reported quarterly or annual results47

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

199 filings to the SEC since October 2021: 2 annual reports, 6 quarterly reports, 102 major events, 23 insider forms, 3 large holders, 1 private raises, 62 other. The latest 20:

  1. Sep 22, 202315-12G EDGAR
  2. Sep 13, 20234 OWNERSHIP DOCUMENT EDGAR
  3. Sep 13, 20234 OWNERSHIP DOCUMENT EDGAR
  4. Sep 13, 20234 OWNERSHIP DOCUMENT EDGAR
  5. Sep 13, 20234 OWNERSHIP DOCUMENT EDGAR
  6. Sep 13, 20234 OWNERSHIP DOCUMENT EDGAR
  7. Sep 13, 20234 OWNERSHIP DOCUMENT EDGAR
  8. Sep 12, 2023S-3DPOS EDGAR
  9. Sep 12, 2023S-8 POS EDGAR
  10. Sep 12, 20238-A12B/A EDGAR
  11. Sep 12, 2023POSASR EDGAR
  12. Sep 12, 2023POSASR EDGAR
  13. Sep 12, 20238-K EDGAR
  14. Sep 8, 2023425 EDGAR
  15. Sep 8, 20238-K EDGAR
  16. Sep 7, 2023425 EDGAR
  17. Sep 7, 20238-K EDGAR
  18. Sep 5, 2023425 EDGAR
  19. Sep 5, 20238-K EDGAR
  20. Sep 1, 2023425 EDGAR

The 199 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

4 open-market trades by officers, directors and large owners since October 2021: 4 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 14, 2022Doyle Jason F.DirectorBuy7,200$6.94$50.0KForm 4
Mar 1, 2022Kabnick LisaDirectorBuy143,470$7.02$1.0MForm 4
Feb 28, 2022PERLA STANLEY RDirectorBuy10,000$7.06$70.6KForm 4
Jan 28, 2022PERLA STANLEY RDirectorBuy5,000$8.05$40.2KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Feb 11, 2022Raised $26.7 million in a private offering of equity Form D: $53.4 million offered in all Form D

SEC filer profile

How Necessity Retail REIT, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARNecessity Retail REIT, Inc.1
  • CIK0001568162
  • Employer ID (EIN)90-09299891
  • Filer statusLarge accelerated filer1
  • Incorporated inMaryland1
  • Fiscal year endsDecember 311
  • Industry code (SIC)6798 Real Estate Investment Trusts1
  • Business address650 Fifth Ave, 30Th Floor, New York, NY 100191
  • Phone212-415-65001
  • Shares outstanding134,533,574 as of Jul 31, 20239
  • Public float$965.3M as of Jun 30, 20223
  • On EDGAR sinceFeb 5, 20131
  • Filings694 in all: 8-K (327), 4 (68), 425 (43), 10-Q (32), DEFA14A (25), 3 (19), 424B3 (19), DFAN14A (13)1
    All 57 form types

    424B5 (12), 10-K (10), SC 13G/A (10), DEF 14A (9), 8-K/A (8), FWP (8), UPLOAD (8), CORRESP (6), EFFECT (5), 8-A12B (4), CERT (4), SC TO-C (4), SC TO-I/A (4), 424B7 (3), POS AM (3), SC 13G (3), 8-A12B/A (2), DEFC14A (2), POS EX (2), POSASR (2), PREC14A (2), PRRN14A (2), S-11 (2), S-3ASR (2), S-3DPOS (2), S-4/A (2), SC 14D9 (2), SC TO-I (2), SC TO-T (2), SC TO-T/A (2), 10-K/A (1), 15-12G (1), 25-NSE (1), 8-A12G (1), ARS (1), D (1), DEFM14A (1), DFRN14A (1), DRS (1), NT 10-K (1), NT 10-Q (1), PRE 14A (1), PRER14A (1), S-11/A (1), S-3D (1), S-4 (1), S-8 (1), S-8 POS (1), SC 14D9/A (1)

  • Latest filingsAnnual report (10-K) Feb 23, 2023
    Quarterly report (10-Q) Aug 3, 2023
    Proxy statement (DEF 14A) Feb 25, 2022
    Latest 8-K (8-K) Sep 12, 2023

Sources

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