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Rithm Property (NYSE:RPT) Stock, Option Chain

RPT Realty

Rithm Property Trust Inc is a real estate investment trust (REIT) externally managed by an affiliate of Rithm Capital Corp. (Rithm). The group is embarking on a new commercial real estate-focused investment. Its tailored approach to investment management seeks to generate attractive risk-adjusted returns for stockholders over the long term through dividends and capital appreciation.

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A couple of analysts downgraded RPT Realty (NYSE: RPT) following a 

Why RPT Realty&#39;s Merger Deal With Kimco Is A Win-Win: Analyst On AFFO Estimates And Takeout Price

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Mobile Infrastructure Corporation Common Stock

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Gainers


	Mobile Infrastructure Corporation (NASDAQ: BEEP) shares jumped 98.7% to $12.02.


Why NovoCure Are Trading Lower By Around 31%? Here Are Other Stocks Moving In Monday&#39;s Mid-Day Session

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U.S. stocks traded higher, with the Dow Jones gaining around 250 points on Monday. Here are some big stocks recording gains in today’s session.

Jabil, Boston Scientific, Hersha Hospitality Trust And Other Big Stocks Moving Higher On Monday

Rithm Property Trust Inc

Repare Therapeutics Inc

Janney Montgomery Scott analyst Jason Stewart initiates coverage on Rithm Property (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPT#NYSE">RPT</a>) with a Buy rating and announces Price Target of $4.

Initiation

Janney Montgomery Scott Initiates Coverage On Rithm Property with Buy Rating, Announces Price Target of $4

S&amp;P SmallCap 600 constituent Livent will replace NCR Voyix in the S&amp;P MidCap 400, and NCR Voyix will replace Livent in the S&amp;P SmallCap 600.&nbsp;Rush Enterprises will replace RPT Realty&nbsp;in the S&amp;P SmallCap 600.&nbsp;

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NCR Voyix And Rush Enterprises To Join S&P SmallCap 600

RPT Realty (NYSE:<a href="https://www.benzinga.com/stock/RPT#NYSE">RPT</a>) ("RPT" or the "Company") announced today that, at a special meeting of the shareholders of RPT (the "Special Meeting"), the RPT shareholders approved the proposal necessary for the closing of the previously announced mergers pursuant to the Agreement and Plan of Merger, dated as of August 28, 2023 (the "Merger Agreement"), by and among Kimco Realty Corporation ("Kimco"), Kimco Realty OP, LLC, a Delaware limited liability company and wholly owned subsidiary of Kimco ("Kimco OP"), Tarpon Acquisition Sub, LLC, a Delaware limited liability company and a direct wholly owned subsidiary of Kimco ("Merger Sub"), Tarpon OP Acquisition Sub, LLC, a Delaware limited liability company and direct wholly owned subsidiary of Kimco OP ("OP Merger Sub"), RPT and RPT Realty, L.P., a Delaware limited partnership ("RPT OP"), whereby (i) OP Merger Sub will merge with and into RPT OP, with RPT OP surviving the partnership merger (the "Partnership Merger"), (ii) RPT will merge with and into Merger Sub (the "Company Merger" and, together with the Partnership Merger, the "Mergers"), with Merger Sub surviving the Company Merger as a wholly owned subsidiary of Kimco and (iii) immediately after the Company Merger, Kimco will contribute all outstanding membership interests of Merger Sub to Kimco OP. &nbsp;
At the Special Meeting, approximately 99.8% of the votes were cast for the approval of the Company Merger and the other transactions contemplated by the Merger Agreement, which represented approximately 87.6% of outstanding RPT common shares, including restricted shares, as of November 1, 2023, the record date of the Special Meeting.
The final voting results will be reported on a Form 8-K filed with the Securities and Exchange Commission by RPT with respect to the Special Meeting.
The Mergers are expected to close on January 2, 2024, subject to the satisfaction or waiver of customary closing conditions. Upon completion of the Mergers, pursuant to the terms of the Merger Agreement, (i) holders of RPT common shares will have the right to receive 0.6049 newly issued shares of Kimco common stock for each RPT common share that they own immediately prior to the effective time of the Company Merger and (ii) holders of RPT 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest (the "RPT Preferred Shares") will have the right to receive one depositary share representing one one-thousandth of a share of newly issued Kimco Class N Preferred Stock for each RPT Preferred Share that they own immediately prior to the effective time of the Company Merger. Upon completion of the Mergers, the common stock of the combined company will trade under the ticker symbol "KIM" on the NYSE, and RPT's common shares will be delisted from the NYSE.

RPT Realty Shareholders Approve Mergers

Dividends

RPT Realty Declares Special Cash Dividend Of $0.05444 Per Share

RPT Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPT#NYSE">RPT</a>) reported quarterly earnings of $0.24 per share. This is a 11.11 percent decrease over earnings of $0.27 per share from the same period last year. The company reported quarterly sales of $54.89 million which beat the analyst consensus estimate of $49.13 million by 11.72 percent. This is a 0.29 percent increase over sales of $54.73 million the same period last year.

Earnings

RPT Realty Q3 Operating FFO Per Share dilutive $0.24 Down From $0.27 YoY, Sales $54.89M Beat $49.13M Estimate

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Earnings Scheduled For November 2, 2023

Monday marks the last chance for investors to receive the next dividend payout from RPT Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPT#NYSE">RPT</a>). 
<h3>What's Happening</h3>
The company announced on Thursday that it would pay shareholders a quarterly dividend of 14 cents per share. On Tuesday, RPT Realty will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 14 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Tuesday. Shareholders who own RPT as of the end of Monday's session are eligible to receive the 14 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on October 02, 2023. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
<a href="https://www.benzinga.com/stock//dividends">Click here</a> to find details on RPT Realty's previous dividends.
To keep track of which companies are distributing dividends, <a href="https://www.benzinga.com/calendars/dividends">click here</a> to visit our Dividends Calendar.

RPT Realty's Ex-Dividend Date Is Tuesday, Here's What You Need To Know

A couple of analysts downgraded&nbsp;RPT Realty&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rpt#NYSE">RPT</a>) following a&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/quote/RPT/analyst-ratings" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">merger deal announced yesterday</a>.
The company penned a deal to be acquired by&nbsp;Kimco Realty Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kim#NYSE">KIM</a>) for around $2 billion, including the&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/08/34066817/kimco-pens-2b-merger-deal-with-rpt-realty-boosts-coastal-and-sun-belt-markets-footprints" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">assumption of debt and preferred stock</a>.
The price represents a consideration of about $11.34 per RPT share based on Kimco&#39;s closing share price on August 25, 2023, a 19% premium to RPT&#39;s closing share price on August 25, 2023.&nbsp;
Raymond James&nbsp;analyst RJ Milligan downgraded RPT to Market Perform from Outperform.
The analyst sees the acquisition deal as a hugely positive outcome for RPT as the stock is worth well below the implied takeover price, considering its adjusted funds from operations (AFFO) multiple.&nbsp;
Based on the analyst&#39;s updated RPT FY24 AFFO estimate of $0.47, the takeout price represents a 24x AFFO multiple.
Milligan believes consensus AFFO estimates for RPT significantly understate the capital expenditure requirements through 2024.&nbsp;
Based on the analyst&#39;s updated AFFO estimates, RPT could not cover its dividend in 2024.&nbsp;
The analyst lowered revenue and AFFO per share estimates to $204 million (from $216 million) and $0.43 (from $0.63) for FY23 and $213 million (from $227 million) and $0.47 (from $0.66) for FY24, respectively.&nbsp;
Also,&nbsp;KeyBanc Capital Markets&nbsp;analyst Todd M. Thomas downgraded the stock to Sector Weight from Overweight.
The analyst believes the acquisition deal demonstrates KIM&#39;s confidence in the ongoing retail real estate recovery and strong potential in RPT&#39;s portfolio, including SNO pipeline, occupancy &amp; rent upside, and redevelopment potential.
Given recent interest rate hikes and the challenging capital markets environment, the analyst believes there will be continued consolidation in the near and medium term within the REIT industry.
Thomas estimates AFFO per share of $0.72 in <a href="https://www.benzinga.com/calendars/guidance">FY23 and $0.80 in FY24.&nbsp;</a>
Price Action: RPT shares are trading higher by 0.45% at $11.28&nbsp;on the last check Tuesday.

Why RPT Realty's Merger Deal With Kimco Is A Win-Win: Analyst On AFFO Estimates And Takeout Price

<h3>Upgrades</h3>
JP Morgan upgraded the previous rating for Noah Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOAH#NYSE">NOAH</a>) from Neutral to Overweight. Noah Holdings earned $0.62 in the second quarter, compared to $0.79 in the year-ago quarter. The stock has a 52-week-high of $21.53 and a 52-week-low of $11.65. At the end of the last trading period, Noah Holdings closed at $12.13. 
According to Compass Point, the prior rating for Kimco Realty Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>) was changed from Neutral to Buy. Kimco Realty earned $0.39 in the second quarter, compared to $0.40 in the year-ago quarter. At the moment, the stock has a 52-week-high of $23.27 and a 52-week-low of $17.34. Kimco Realty closed at $18.77 at the end of the last trading period. 
For First Bancshares Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBMS#NASDAQ">FBMS</a>), DA Davidson upgraded the previous rating of Neutral to Buy. In the second quarter, First Bancshares showed an EPS of $0.85, compared to $0.80 from the year-ago quarter. The stock has a 52-week-high of $34.77 and a 52-week-low of $22.82. At the end of the last trading period, First Bancshares closed at $28.59. 
For Rockwell Automation Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROK#NYSE">ROK</a>), Wells Fargo upgraded the previous rating of Underweight to Equal-Weight. Rockwell Automation earned $3.01 in the third quarter, compared to $2.66 in the year-ago quarter. The stock has a 52-week-high of $348.52 and a 52-week-low of $209.46. At the end of the last trading period, Rockwell Automation closed at $309.05. 
Jefferies upgraded the previous rating for Forward Air Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWRD#NASDAQ">FWRD</a>) from Hold to Buy. Forward Air earned $0.91 in the second quarter, compared to $2.04 in the year-ago quarter. The stock has a 52-week-high of $121.38 and a 52-week-low of $60.09. At the end of the last trading period, Forward Air closed at $70.89. 
According to UBS, the prior rating for Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) was changed from Neutral to Buy. For the fourth quarter, Oracle had an EPS of $1.67, compared to year-ago quarter EPS of $1.54. At the moment, the stock has a 52-week-high of $127.54 and a 52-week-low of $60.78. Oracle closed at $116.84 at the end of the last trading period. 
According to Wolfe Research, the prior rating for 3M Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) was changed from Underperform to Peer Perform. 3M earned $2.17 in the second quarter, compared to $2.48 in the year-ago quarter. At the moment, the stock has a 52-week-high of $144.00 and a 52-week-low of $92.38. 3M closed at $104.12 at the end of the last trading period. 
According to Citigroup, the prior rating for Verizon Communications Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) was changed from Neutral to Buy. In the second quarter, Verizon Communications showed an EPS of $1.21, compared to $1.31 from the year-ago quarter. The current stock performance of Verizon Communications shows a 52-week-high of $44.73 and a 52-week-low of $31.25. Moreover, at the end of the last trading period, the closing price was at $33.55. 
According to Citigroup, the prior rating for AT&amp;T Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) was changed from Neutral to Buy. In the second quarter, AT&amp;T showed an EPS of $0.63, compared to $0.65 from the year-ago quarter. The stock has a 52-week-high of $22.84 and a 52-week-low of $13.43. At the end of the last trading period, AT&amp;T closed at $14.21. 
Raymond James upgraded the previous rating for NextEra Energy Partners LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEP#NYSE">NEP</a>) from Market Perform to Outperform. For the second quarter, NextEra Energy Partners had an EPS of $0.53, compared to year-ago quarter EPS of $2.61. The stock has a 52-week-high of $85.98 and a 52-week-low of $44.24. At the end of the last trading period, NextEra Energy Partners closed at $48.62. 
For Hersha Hospitality Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HT#NYSE">HT</a>), Barclays upgraded the previous rating of Underweight to Equal-Weight. In the second quarter, Hersha Hospitality showed an EPS of $0.38, compared to $0.56 from the year-ago quarter. At the moment, the stock has a 52-week-high of $11.21 and a 52-week-low of $5.64. Hersha Hospitality closed at $9.79 at the end of the last trading period. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings upgrades.</a>
<h3>Downgrades</h3>
Jefferies downgraded the previous rating for Hersha Hospitality Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HT#NYSE">HT</a>) from Buy to Hold. For the second quarter, Hersha Hospitality had an EPS of $0.38, compared to year-ago quarter EPS of $0.56. At the moment, the stock has a 52-week-high of $11.21 and a 52-week-low of $5.64. Hersha Hospitality closed at $9.79 at the end of the last trading period. 
For Emergent BioSolutions Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EBS#NYSE">EBS</a>), Benchmark downgraded the previous rating of Buy to Hold. In the second quarter, Emergent BioSolutions showed an EPS of $1.06, compared to $0.86 from the year-ago quarter. The stock has a 52-week-high of $27.22 and a 52-week-low of $4.19. At the end of the last trading period, Emergent BioSolutions closed at $4.42. 
For Farfetch Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTCH#NYSE">FTCH</a>), Morgan Stanley downgraded the previous rating of Overweight to Equal-Weight. In the second quarter, Farfetch showed an EPS of $0.21, compared to $0.21 from the year-ago quarter. At the moment, the stock has a 52-week-high of $12.88 and a 52-week-low of $2.50. Farfetch closed at $2.82 at the end of the last trading period. 
According to Piper Sandler, the prior rating for Celanese Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CE#NYSE">CE</a>) was changed from Neutral to Underweight. Celanese earned $2.17 in the second quarter, compared to $4.99 in the year-ago quarter. The current stock performance of Celanese shows a 52-week-high of $128.50 and a 52-week-low of $86.73. Moreover, at the end of the last trading period, the closing price was at $121.54. 
For Hersha Hospitality Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HT#NYSE">HT</a>), Stifel downgraded the previous rating of Buy to Hold. In the second quarter, Hersha Hospitality showed an EPS of $0.38, compared to $0.56 from the year-ago quarter. The stock has a 52-week-high of $11.21 and a 52-week-low of $5.64. At the end of the last trading period, Hersha Hospitality closed at $9.79. 
For RPT Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPT#NYSE">RPT</a>), Keybanc downgraded the previous rating of Overweight to Sector Weight. RPT Realty earned $0.25 in the second quarter, compared to $0.27 in the year-ago quarter. At the moment, the stock has a 52-week-high of $11.54 and a 52-week-low of $7.29. RPT Realty closed at $11.23 at the end of the last trading period. 
Raymond James downgraded the previous rating for RPT Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPT#NYSE">RPT</a>) from Outperform to Market Perform. For the second quarter, RPT Realty had an EPS of $0.25, compared to year-ago quarter EPS of $0.27. At the moment, the stock has a 52-week-high of $11.54 and a 52-week-low of $7.29. RPT Realty closed at $11.23 at the end of the last trading period. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings downgrades.</a>
<h3>Initiations</h3>
B. Riley Securities initiated coverage on QuinStreet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QNST#NASDAQ">QNST</a>) with a Neutral rating. The price target for QuinStreet is set to $10.00. QuinStreet earned $0.01 in the fourth quarter, compared to $0.04 in the year-ago quarter. The current stock performance of QuinStreet shows a 52-week-high of $18.18 and a 52-week-low of $6.79. Moreover, at the end of the last trading period, the closing price was at $9.60. 
For Xylem Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYL#NYSE">XYL</a>), Seaport Global initiated coverage, by setting the current rating at Neutral. In the second quarter, Xylem showed an EPS of $0.98, compared to $0.66 from the year-ago quarter. The current stock performance of Xylem shows a 52-week-high of $118.58 and a 52-week-low of $84.16. Moreover, at the end of the last trading period, the closing price was at $101.82. 
HC Wainwright &amp; Co. initiated coverage on BigBear.ai Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>) with a Buy rating. The price target for BigBear.ai Hldgs is set to $4.00. For the second quarter, BigBear.ai Hldgs had an EPS of $0.12, compared to year-ago quarter EPS of $0.17. At the moment, the stock has a 52-week-high of $6.77 and a 52-week-low of $0.58. BigBear.ai Hldgs closed at $1.37 at the end of the last trading period. 
With a Neutral rating, UBS initiated coverage on Crane NXT Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXT#NYSE">CXT</a>). The price target seems to have been set at $65.00 for Crane NXT. At the moment, the stock has a 52-week-high of $63.36 and a 52-week-low of $39.00. Crane NXT closed at $59.85 at the end of the last trading period. 
With a Equal-Weight rating, Morgan Stanley initiated coverage on Navitas Semiconductor Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVTS#NASDAQ">NVTS</a>). The price target seems to have been set at $9.20 for Navitas Semiconductor. Navitas Semiconductor earned $0.05 in the second quarter, compared to $0.07 in the year-ago quarter. The current stock performance of Navitas Semiconductor shows a 52-week-high of $11.16 and a 52-week-low of $3.12. Moreover, at the end of the last trading period, the closing price was at $8.42. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings initiations.</a>

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Benzinga's Top Ratings Upgrades, Downgrades For August 29, 2023

Keybanc analyst Todd Thomas downgrades RPT Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPT#NYSE">RPT</a>) from Overweight to Sector Weight.

Keybanc Downgrades RPT Realty to Sector Weight

Raymond James analyst RJ Milligan downgrades RPT Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPT#NYSE">RPT</a>) from Outperform to Market Perform.

Raymond James Downgrades RPT Realty to Market Perform

<h3>Gainers</h3>
<ul>
<li>Mobile Infrastructure Corporation (NASDAQ: BEEP) shares jumped 98.7% to $12.02.</li>
<li>GD Culture Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gdc#NASDAQ">GDC</a>) gained 61.8% to $4.11 after it announced the launch of live-streaming e-commerce business on TikTok, a popular social media platform.</li>
<li>Hersha Hospitality Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ht#NYSE">HT</a>) shares climbed 56.5% to $9.82 after it announced a merger with KSL Capital Partners LLC, an investor in travel and leisure businesses.</li>
<li>Bionomics Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bnox#NASDAQ">BNOX</a>) rose 54% to $2.3550.</li>
<li>Hawaiian Electric Industries, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/he#NYSE">HE</a>) gained 41.8% to $13.70 after the company released an in-depth response to the lawsuit recently filed by the County of Maui surrounding the tragic fires on August 8.</li>
<li>Genius Group Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gns#NYSE">GNS</a>) shares climbed 35.6% to $1.98 after jumping 29% on Friday.</li>
<li>Thorne HealthTech, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/thrn#NASDAQ">THRN</a>) gained 29.3% to $10.10 after the company entered an agreement to be acquired by L Catterton for $10.20 per share in cash.</li>
<li>Micromobility.com Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mcom#NASDAQ">MCOM</a>) shares climbed 28.5% to $0.1028 after gaining 20% on Friday.</li>
<li>LQR House Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lqr#NASDAQ">LQR</a>) shares climbed 27.5% to $1.30. The company&#39;s board authorized a share repurchase program, along with an innovative marketing partnership with Gold Standard Media.</li>
<li>IM Cannabis Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/imcc#NASDAQ">IMCC</a>) rose 22.4% to $0.8450.</li>
<li>Selina Hospitality PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/slna#NASDAQ">SLNA</a>) gained 22.2% to $0.6601. Globant S.A. recently inked a global corporate brand partnership with Selina Hospitality.</li>
<li>RPT Realty (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rpt#NYSE">RPT</a>) rose 20% to $11.48. Kimco Realty penned a merger agreement to acquire RPT Realty in an all-stock transaction for around $2 billion, including the assumption of debt and preferred stock.</li>
<li>VinFast Auto Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vfs#NASDAQ">VFS</a>) shares climbed 17.2% to $80.60 after jumping 40% on Friday.</li>
<li>Rite Aid Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rad#NYSE">RAD</a>) jumped 15.7% to $0.8155. Rite Aid is reportedly on the brink of filing for bankruptcy amidst many lawsuits over its purported role in the opioid crisis to address its significant debt burden, which exceeds $3.3 billion, through a Chapter 11 filing.</li>
<li>Sangamo Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgmo#NASDAQ">SGMO</a>) gained 15.5% to $0.8900.</li>
<li>NeuroMetrix, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nuro#NASDAQ">NURO</a>) gained 13.5% to $0.75.</li>
<li>BrightView Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bv#NYSE">BV</a>) gained 12.2% to $9.15 after the company announced it received a $500 million strategic investment in convertible preferred stock from an affiliate of One Rock Capital Partners.</li>
<li>Vahanna Tech Edge Acquisition I Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vhna#NASDAQ">VHNA</a>) rose 11% to $10.71. On Aug. 28, 2023, Vahanna Tech Edge Acquisition I Corp. issued a press release, announcing that its previously announced business combination with Roadzen, Inc., was approved at a special meeting of Vahanna shareholders on Aug. 25, 2023.</li>
<li>Novavax, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvax#NASDAQ">NVAX</a>) climbed 9.2% to $8.78.</li>
<li>Aehr Test Systems (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aehr#NASDAQ">AEHR</a>) gained 9.2% to $45.33.</li>
<li>FLJ Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/flj#NASDAQ">FLJ</a>) shares rose 8.7% to $0.2001. FLJ Group is scheduled to hold its 2023 annual general meeting on Sept. 18, 2023.</li>
<li>BioNexus Gene Lab Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bglc#NASDAQ">BGLC</a>) shares surged 8% to $1.4037 after jumping 10% on Friday.</li>
<li>Jabil Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jbl#NYSE">JBL</a>) gained 7.5% to $111.05 after it reached a preliminary deal for potential $2.2B sale of Mobility business To BYD Electronic.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>AgileThought, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/agil#NASDAQ">AGIL</a>) shares fell 32.6% to $0.1753. Alliance Global Partners downgraded AgileThought from Buy to Sell.</li>
<li>NovoCure Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvcr#NASDAQ">NVCR</a>) fell 31.4% to $20.42 after the company announced its Phase 3 ENGOT-ov50 / GOG-3029 / INNOVATE-3 trial of TTFields with paclitaxel did not meet its primary endpoint.</li>
<li>Faraday Future Intelligent Electric Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ffie#NASDAQ">FFIE</a>) fell 23.9% to $9.47. Faraday Future announced a 1-for-80 reverse stock split and authorized share reduction from 1,765,000,000 to 154,437,500.</li>
<li>Heliogen, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hlgn#NYSE">HLGN</a>) shares fell 18.7% to $0.2002 after the company reported a 1-for-35 reverse stock split.</li>
<li>Xiao-I Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aixi#NASDAQ">AIXI</a>) declined 16.6% to $3.32.</li>
<li>Ideanomics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/idex#NASDAQ">IDEX</a>) fell 15.5% to $3.6341 after the company reported results for the second quarter.</li>
<li>Opthea Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/opt#NASDAQ">OPT</a>) fell 15.3% to $2.61. Opthea successfully completed institutional offer and increased capital raising to A$90.0 million.</li>
<li>Mullen Automotive, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/muln#NASDAQ">MULN</a>) dipped 12.9% to $0.5651. Mullen announced a Class 3 vehicle purchase order with NRTC Automation Group.</li>
<li>ReTo Eco-Solutions, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/reto#NASDAQ">RETO</a>) fell 12.3% to $0.9550 after declining 4% on Friday.</li>
<li>BTC Digital Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/metx#NASDAQ">METX</a>) declined 11.7% to $2.04.</li>
<li>Scilex Holding Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sclx#NASDAQ">SCLX</a>) fell 10.9% to $2.93.</li>
<li>Electriq Power Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eliq#NYSE">ELIQ</a>) fell 9.3% to $2.1402 after declining 21% on Friday.</li>
<li>Pulse Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/plse#NASDAQ">PLSE</a>) declined 8.9% to $6.44.</li>
<li>Aptorum Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/apm#NASDAQ">APM</a>) shares fell 8% to $2.0250 after jumping 27% on Friday.</li>
<li>Nikola Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nkla#NASDAQ">NKLA</a>) tumbled 7.3% to $1.21. The company last week announced its intention to conduct a registered direct offering involving senior convertible notes, the total value of which could reach up to $325 million. Anticipated net proceeds for Nikola stand at approximately $124.5 million.</li>
<li>YS Biopharma Co., Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ys#NASDAQ">YS</a>) fell 7.2% to $1.16. YS Biopharma shares jumped over 65% on Friday after the company announced the purchase of shares by company officers.</li>
<li>Upwork Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/upwk#NASDAQ">UPWK</a>) fell 5.4% to $13.96 after BTIG downgraded the stock from Buy to Neutral.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/23/08/34064979/this-analyst-with-86-accuracy-rate-sees-around-37-upside-in-nvidia-here-are-5-stock-picks-for-last-w"> This Analyst With 86% Accuracy Rate Sees Around 37% Upside In Nvidia - Here Are 5 Stock Picks For Last Week From Wall Street&#39;s Most Accurate Analysts</a>

Why NovoCure Are Trading Lower By Around 31%? Here Are Other Stocks Moving In Monday's Mid-Day Session

U.S. stocks traded higher, with the Dow Jones gaining around 250 points on Monday. Here are some big stocks recording gains in today&rsquo;s session.
<ul>
<li>Hersha Hospitality Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ht#NYSE">HT</a>) shares gained 56.5% to $9.82 after it announced a merger with KSL Capital Partners LLC, an investor in travel and leisure businesses.</li>
<li>Hawaiian Electric Industries, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/he#NYSE">HE</a>) jumped 41.8% to $13.70 after the company released an in-depth response to the lawsuit recently filed by the County of Maui surrounding the tragic fires on August 8.</li>
<li>Thorne HealthTech, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/thrn#NASDAQ">THRN</a>) rose 29.3% to $10.10 after the company entered an agreement to be acquired by L Catterton for $10.20 per share in cash.</li>
<li>RPT Realty (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rpt#NYSE">RPT</a>) climbed 20% to $11.48. Kimco Realty penned a merger agreement to acquire RPT Realty in an all-stock transaction for around $2 billion, including the assumption of debt and preferred stock.</li>
<li>VinFast Auto Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vfs#NASDAQ">VFS</a>) shares gained 17.2% to $80.60 after jumping 40% on Friday.</li>
<li>BrightView Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bv#NYSE">BV</a>) rose 12.2% to $9.15 after the company announced it received a $500 million strategic investment in convertible preferred stock from an affiliate of One Rock Capital Partners.</li>
<li>Betterware de M&eacute;xico, S.A.P.I. de C.V. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bwmx#NASDAQ">BWMX</a>) gained 10.4% to $16.50.</li>
<li>Dingdong (Cayman) Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ddl#NYSE">DDL</a>) rose 10.2% to $2.1502.</li>
<li>Aehr Test Systems (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aehr#NASDAQ">AEHR</a>) jumped 9.2% to $45.33.</li>
<li>Carvana Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvna#NYSE">CVNA</a>) gained 8.7% to $44.78</li>
<li>NWTN Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nwtn#NASDAQ">NWTN</a>) rose 8.5% to $9.72.</li>
<li>Jabil Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jbl#NYSE">JBL</a>) climbed 7.5% to $111.05 after it reached a preliminary deal for potential $2.2 billion sale of Mobility business To BYD Electronic.</li>
<li>Tencent Music Entertainment Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tme#NYSE">TME</a>) gained 7.3% to $6.95.</li>
<li>Novavax, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvax#NASDAQ">NVAX</a>) gained 6.9% to $8.61.</li>
<li>Applied Optoelectronics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aaoi#NASDAQ">AAOI</a>) rose 6.2% to $13.80.</li>
<li>Boston Scientific Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bsx#NYSE">BSX</a>) gained 5.2% to $53.40. Boston Scientific released 12-month results from the pivotal ADVENT trial of the FARAPULSE Pulsed Field Ablation (PFA) System, a nonthermal treatment in which electric fields selectively ablate (remove body tissue surgically) heart tissue in patients with atrial fibrillation (AF).</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/23/08/34064979/this-analyst-with-86-accuracy-rate-sees-around-37-upside-in-nvidia-here-are-5-stock-picks-for-last-w"> This Analyst With 86% Accuracy Rate Sees Around 37% Upside In Nvidia - Here Are 5 Stock Picks For Last Week From Wall Street&#39;s Most Accurate Analysts</a>

U.S. stocks traded higher this morning, with the Dow Jones gaining over 250 points on Monday.
Following the market opening Monday, the Dow traded up 0.81% to 34,626.22 while the NASDAQ rose 0.61% to 13,674.08. The S&amp;P 500, also rose, gaining, 0.61% to 4,432.51.
Check This Out: <a href="https://www.benzinga.com/news/23/08/34041154/top-5-tech-stocks-that-may-plunge-this-quarter"> Top 5 Tech Stocks That May Plunge This Quarter</a>
&nbsp;
<h3>Leading and Lagging Sectors</h3>
&nbsp;
Energy shares jumped by 1.4% on Monday.
In trading on Monday, consumer discretionary shares rose by just 0.3%.
&nbsp;
<h3>Top Headline</h3>
&nbsp;
Kimco Realty Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kim#NYSE">KIM</a>) penned a merger agreement to acquire RPT Realty (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rpt#NYSE">RPT</a>) in an all-stock transaction for around $2 billion, including the assumption of debt and preferred stock.
&nbsp;
<h3>Equities Trading UP</h3>
&nbsp;
Mobile Infrastructure Corporation (NASDAQ: BEEP) shares shot up 76% to $10.66.
Shares of GD Culture Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gdc#NASDAQ">GDC</a>) got a boost, shooting 59% to $4.03 after it announced the launch of live-streaming e-commerce business on TikTok, a popular social media platform.
Hersha Hospitality Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ht#NYSE">HT</a>) shares were also up, gaining 57% to $9.83 after it announced a merger with KSL Capital Partners LLC, an investor in travel and leisure businesses.
&nbsp;
<h3>Equities Trading DOWN</h3>
&nbsp;
AgileThought, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/agil#NASDAQ">AGIL</a>) shares dropped 37% to $0.1651. Alliance Global Partners downgraded AgileThought from Buy to Sell.
Shares of NovoCure Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvcr#NASDAQ">NVCR</a>) were down 32% to $20.25 after the company announced its Phase 3 ENGOT-ov50 / GOG-3029 / INNOVATE-3 trial of TTFields with paclitaxel did not meet its primary endpoint.
Faraday Future Intelligent Electric Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ffie#NASDAQ">FFIE</a>) was down, falling 20% to $9.94. Faraday Future announced a 1-for-80 reverse stock split and authorized share reduction from 1,765,000,000 to 154,437,500.
Also Check This Out: <a href="https://www.benzinga.com/news/earnings/23/08/34042951/heico-gears-up-for-q3-print-heres-a-look-at-recent-price-target-changes-by-the-most-accurate-analys"> HEICO Gears Up For Q3 Print; Here&#39;s A Look At Recent Price Target Changes By The Most Accurate Analysts</a>
&nbsp;
<h3>Commodities</h3>
&nbsp;
In commodity news, oil traded up 1.2% to $80.75 while gold traded up 0.2% at $1,944.40.
Silver traded up 0.1% to $24.24 on Monday while copper rose 0.2% to $3.7695.
&nbsp;
<h3>Euro zone</h3>
&nbsp;
European shares were higher today. The eurozone&rsquo;s STOXX 600 gained 1% while Spain&rsquo;s IBEX 35 Index rose 1.7% The German DAX rose 1.1% French CAC 40 gained 1.5%, while Italy&rsquo;s FTSE MIB Index surged 1.4%.
M3 money supply in the Eurozone fell 0.4% year-over-year to EUR 15.6 trillion in July 2023, compared to a 0.6% growth in June. Bank lending to households in the Eurozone increased by 1.3% year-over-year to EUR 6.86 trillion in July.
&nbsp;
<h3>Asia Pacific Markets</h3>
&nbsp;
Asian markets closed higher on Monday, with Japan&rsquo;s Nikkei 225 gaining 1.73%, China&rsquo;s Shanghai Composite Index climbing 1.13% and Hong Kong&rsquo;s Hang Seng Index gaining 0.97%. India&rsquo;s S&amp;P BSE Sensex, meanwhile, rose 0.3%.
The index of coincident economic indicators in Japan was revised lower to 115.1 in June from preliminary reading of 115.2, while index of leading economic indicators was confirmed at 108.9 in June compared to a final level of 109.1 a month ago. Profits earned by Chinese industrial firms dipped by 15.5% from a year ago to CNY 3,943.98 billion during the first seven months of the year.
&nbsp;
<h3>Economics</h3>
&nbsp;
No major economic reports are scheduled for release this morning.
Now Read This: <a href="https://www.benzinga.com/markets/cryptocurrency/23/08/34042277/bitcoin-ethereum-move-lower-pepe-becomes-top-loser"> Bitcoin, Ethereum Move Lower; Pepe Becomes Top Loser</a>
&nbsp;
<h3>COVID-19 Update</h3>
&nbsp;
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 107,969,970 cases with around 1,173,390 deaths. India confirmed a total of at least 44,996,960 cases and 531,920 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 694,215,410 cases of COVID-19 worldwide with more than 6,910,770 deaths.
&nbsp;

Eurozone

Commodities

Global

US Stocks Open Higher; Kimco Realty To Acquire RPT Realty

Kimco Realty Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kim#NYSE">KIM</a>) penned a merger agreement to acquire&nbsp;RPT Realty&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rpt#NYSE">RPT</a>) in an all-stock transaction for around $2 billion, including the<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/08/g34064745/kimco-realty-to-acquire-rpt-realty-in-all-stock-transaction" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&nbsp;assumption of debt and preferred stock.</a>
The price represents a consideration of about $11.34 per RPT share based on Kimco&#39;s closing share price on August 25, 2023, a 19% premium to RPT&#39;s closing share price on August 25, 2023.&nbsp;
Per the terms, RPT shareholders will receive 0.6049 for newly issued KIM shares for each RPT share.
The acquisition will add 56 open-air shopping centers comprising a gross leasable area of 13.3 million square feet to KIM&#39;s existing portfolio of 528 properties.&nbsp;
Post-deal closure, Kimco expects the combined company to have a pro forma equity market capitalization of around $13 billion and a total enterprise value of about $22 billion.
KIM and RPT shareholders are expected to hold around 92% and 8% of the combined company, respectively.&nbsp;
The transaction, unanimously approved by the board of directors of Kimco and the board of trustees of RPT, is expected to close at the beginning of 2024, subject to customary closing conditions.
Apart from the deal, KIM will acquire RPT&#39;s 6% stake in a 49-property net lease joint venture.&nbsp;
&quot;This transaction presents another exciting opportunity for our company to deepen our presence in key Coastal and Sun Belt markets, while accelerating our growth at an attractive valuation. Approximately 70% of RPT&#39;s portfolio aligns with our key strategic markets. Furthermore, their substantial pipeline of signed, but not yet open leases and 20% or greater mark-to-market leasing spread across the portfolio, will drive higher growth for the combined company. The transaction is immediately accretive to FFO and the addition of these properties further positions Kimco as the country&#39;s premier owner and operator of open-air, grocery-anchored shopping centers and mixed-use assets,&quot; said Conor Flynn, CEO.
The acquisition is expected to garner initial cost savings synergies of around $34 million.
As of June 30, 2023, cash and cash equivalent stood at $851.3 million, and an unsecured&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/07/b33414530/kimco-realty-announces-second-quarter-2023-results" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">revolving credit facility of $2.0 billion</a>.&nbsp;
Last week, KIM disclosed the acquisition of Stonebridge at Potomac Town&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/08/34038790/kimco-boosts-position-with-dominant-grocery-anchored-asset-buy-in-the-washington-d-c-suburbs-of-" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Center in Virginia for $172.5 million</a>.&nbsp;
Price Action: KIM shares are trading higher by 1.49% at $19.03, and RPT is up 20.1% at $11.49 on the last check Monday.

REIT

Real Estate

Kimco Pens $2B Merger Deal With RPT Realty, Boosts Coastal And Sun Belt Markets Footprints

WIIM

RPT Realty shares are trading higher after Kimco Realty announced it will acquire the company.

Kimco Realty To Acquire RPT Realty In All-Stock Transaction

RPT Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPT#NYSE">RPT</a>) reported quarterly earnings of $0.25 per share. This is a 7.41 percent decrease over earnings of $0.27 per share from the same period last year. The company reported quarterly sales of $51.05 million which beat the analyst consensus estimate of $49.59 million by 2.95 percent. This is a 7.66 percent decrease over sales of $55.29 million the same period last year.

RPT Realty Q2 EPS $0.25 Down From $0.27 YoY, Sales $51.05M Beat $49.59M Estimate

RPT Realty Q2 FFO $0.25 Down From $0.27 YoY

Press Releases

Bain Capital Real Estate and 11North Partners Form Joint Venture to Invest in Open-Air Retail Centers

Kimco Realty Corporation Announces 2024 Dividend Tax Treatment for RPT Realty Convertible Preferred Investors

Rithm Property Trust Inc. Schedules Fourth Quarter 2024 Earnings Release and Conference Call

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