Receptor protein-tyrosine phosphatase that mediates homotypic cell-cell interactions and plays a role in adipogenic differentiation via modulation of p120 catenin/CTNND1 phosphorylation. Promotes CTNND1 dephosphorylation and prevents its cytoplasmic localization where it inhibits SLC2A4 membrane trafficking. In turn, SLC2A4 is directed to the plasma membrane and performs its glucose transporter function. H2O + O-phospho-L-tyrosyl-[protein] = L-tyrosyl-[protein] + phosphate Homodimer. Localizes in regions of cell-cell contact. Most abundant in lung, less in brain and heart. Belongs to the protein-tyrosine phosphatase family. Receptor class 2B subfamily.