Rithm Property Trust (NYSE:RPT) Issues Quarterly Earnings Results

Rithm Property Trust (NYSE:RPT) announced its quarterly earnings data on Tuesday. The company reported ($0.01) EPS for the quarter, FiscalAI reports. The firm had revenue of $4.06 million during the quarter. Rithm Property Trust had a net margin of 5.52% and a return on equity of 1.27%.

Rithm Property Trust Price Performance

Shares of NYSE RPT traded up $0.31 during trading on Tuesday, hitting $12.19. The stock had a trading volume of 99,098 shares, compared to its average volume of 54,888. The company’s fifty day moving average price is $13.87. The firm has a market capitalization of $94.75 million, a P/E ratio of -42.04 and a beta of 1.24. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.93. Rithm Property Trust has a 12 month low of $9.80 and a 12 month high of $17.94.

Rithm Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th will be paid a $0.36 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $1.44 annualized dividend and a dividend yield of 11.8%. Rithm Property Trust’s dividend payout ratio is presently -496.55%.

Institutional Investors Weigh In On Rithm Property Trust

A number of institutional investors have recently added to or reduced their stakes in RPT. Royal Bank of Canada lifted its position in shares of Rithm Property Trust by 750.6% during the 1st quarter. Royal Bank of Canada now owns 7,723 shares of the company’s stock worth $103,000 after buying an additional 6,815 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Rithm Property Trust by 8.3% in the first quarter. Bank of New York Mellon Corp now owns 17,240 shares of the company’s stock valued at $231,000 after acquiring an additional 1,328 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Rithm Property Trust by 21.9% during the first quarter. Renaissance Technologies LLC now owns 60,017 shares of the company’s stock valued at $804,000 after acquiring an additional 10,800 shares during the last quarter. Finally, Family Manage LLC increased its position in shares of Rithm Property Trust by 0.6% during the first quarter. Family Manage LLC now owns 157,804 shares of the company’s stock valued at $2,113,000 after acquiring an additional 972 shares during the last quarter. 58.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RPT shares. Weiss Ratings restated a “sell (d)” rating on shares of Rithm Property Trust in a research note on Monday, July 6th. Wall Street Zen raised shares of Rithm Property Trust from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

About Rithm Property Trust

Rithm Property Trust Inc is a real estate investment trust (REIT) externally managed by an affiliate of Rithm Capital Corp. (Rithm). The company focuses on commercial real estate-focused investment, including originating, acquiring and managing portfolios of CMBS, commercial real property, commercial mortgage loans and other CRE investments. It has two reportable operating segments: Residential and Commercial. The majority of the company’s revenue is derived from the Residential segment, which is focused on managing a portfolio that includes residential mortgage assets, including whole mortgage loans, RMBS and beneficial interests.