Possesses tyrosine phosphatase activity. Plays a role in regulating the glomerular pressure/filtration rate relationship through an effect on podocyte structure and function (By similarity). H2O + O-phospho-L-tyrosyl-[protein] = L-tyrosyl-[protein] + phosphate Interacts (phosphorylated form) with FYN and GRB2. Glomerulus of kidney. Also detected in brain, lung and placenta. By various differentiation-inducing agents. The disease is caused by variants affecting the gene represented in this entry. Predominantly expressed in B-lymphoid tissues. Belongs to the protein-tyrosine phosphatase family. Receptor class 3 subfamily.