Rithm Property Trust (NYSE:RPT) Upgraded by Wedbush to Strong-Buy Rating

Wedbush upgraded shares of Rithm Property Trust (NYSE:RPT) to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

RPT has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d)” rating on shares of Rithm Property Trust in a report on Monday, July 6th. Wall Street Zen raised Rithm Property Trust from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Rithm Property Trust has an average rating of “Moderate Buy”.

Rithm Property Trust Price Performance

Shares of NYSE RPT opened at $12.15 on Wednesday. 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. The stock has a market capitalization of $94.41 million, a P/E ratio of -46.74 and a beta of 1.24. The firm has a 50-day simple moving average of $13.79.

Rithm Property Trust (NYSE:RPT) last announced its earnings results on Tuesday, July 28th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The firm had revenue of $4.06 million for the quarter. Rithm Property Trust had a return on equity of 1.20% and a net margin of 5.87%. On average, analysts forecast that Rithm Property Trust will post 0.08 EPS for the current fiscal year.

Rithm Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 7th will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, July 7th. This represents a $1.44 dividend on an annualized basis and a yield of 11.9%. Rithm Property Trust’s dividend payout ratio (DPR) is -496.55%.

Institutional Trading of Rithm Property Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in Rithm Property Trust by 750.6% in the 1st quarter. Royal Bank of Canada now owns 7,723 shares of the company’s stock valued at $103,000 after acquiring an additional 6,815 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Rithm Property Trust by 8.3% during the first quarter. Bank of New York Mellon Corp now owns 17,240 shares of the company’s stock worth $231,000 after purchasing an additional 1,328 shares during the last quarter. Renaissance Technologies LLC boosted its holdings 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 worth $804,000 after purchasing an additional 10,800 shares during the last quarter. Finally, Family Manage LLC grew its position in shares of Rithm Property Trust by 0.6% in the first quarter. Family Manage LLC now owns 157,804 shares of the company’s stock valued at $2,113,000 after purchasing an additional 972 shares during the period. 58.60% of the stock is owned by hedge funds and other institutional investors.

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.