RREEF Property Trust (RREEF) Q3 2026 earnings summary

Executive summary

• Board approved a complete liquidation and dissolution plan on Sep. 15, 2026, subject to stockholder approval; a special meeting is scheduled for Jan. 20, 2027.

• Operations ended Q3 with 7 properties, 97.5% leased occupancy and $197,247 total NAV; planned liquidation would sell or transfer assets, settle liabilities and distribute remaining proceeds.

Financial highlights

• Q3 2026 revenue was $8,313 vs. $10,222 YoY; nine-month revenue was $25,611 vs. $30,742.

• Q3 net loss was $2,604 vs. net income of $22,128 YoY; nine-month net loss was $3,512 vs. net income of $21,073.

• Q3 basic and diluted loss per share was $0.17 across classes; nine-month loss per share was $0.23, vs. income per share of $1.33 and $1.22 in 2025.

• Q3 operating income was $110 vs. $25,635; nine-month operating income was $5,090 vs. $31,440, reflecting lower sale gains and a $8,291 real estate impairment in 2026.

• Nareit FFO was $858 in Q3 and $5,189 for 9M 2026; AFFO was $883 and $5,161, respectively.

Outlook and guidance

• If approved, asset sales are targeted within 24 months after stockholder approval; timing and amounts of liquidation distributions remain at Board discretion.

• Estimated total liquidating distributions were $10.10–$12.50 per share, based on estimates as of Sep. 15, 2026; actual proceeds may be lower or delayed.

• If stockholders approve the plan, regular monthly distributions are not expected to continue; future payments would be liquidating distributions, if available and at Board discretion.

• If approved and liquidation becomes imminent under GAAP, accounting is expected to move from going-concern to liquidation basis, measuring assets at expected proceeds and liabilities at expected settlement amounts.