Rithm Property Trust (NYSE:RPT) Releases Earnings Results, Beats Estimates By $0.14 EPS

Rithm Property Trust (NYSE:RPT) released its quarterly earnings results on Wednesday. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.09 by $0.14, FiscalAI reports. Rithm Property Trust had a net margin of 5.87% and a return on equity of 1.20%. The business had revenue of $6.05 million for the quarter.

Rithm Property Trust Price Performance

Shares of NYSE:RPT opened at $10.96 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 1.00. Rithm Property Trust has a 1-year low of $9.80 and a 1-year high of $17.94. The stock’s 50-day moving average price is $11.88.

Rithm Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, October 30th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 13.1%. The ex-dividend date of this dividend is Friday, October 30th. Rithm Property Trust’s payout ratio is currently -553.85%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RPT shares. Weiss Ratings restated a “sell (d)” rating on shares of Rithm Property Trust in a research report on Friday, October 2nd. Wedbush upgraded Rithm Property Trust to a “strong-buy” rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On Rithm Property Trust

Several institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in Rithm Property Trust by 750.6% in the first quarter. Royal Bank of Canada now owns 7,723 shares of the company’s stock valued at $103,000 after buying an additional 6,815 shares during the period. Bank of New York Mellon Corp boosted its stake in 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 during the last quarter. Renaissance Technologies LLC grew its holdings in Rithm Property Trust by 21.9% during the 1st quarter. Renaissance Technologies LLC now owns 60,017 shares of the company’s stock worth $804,000 after acquiring an additional 10,800 shares during the period. Finally, Family Manage LLC grew its holdings in Rithm Property Trust by 0.6% during the 1st quarter. Family Manage LLC now owns 157,804 shares of the company’s stock worth $2,113,000 after acquiring an additional 972 shares during the period. Institutional investors and hedge funds own 58.60% of the company’s stock.

Rithm Property Trust Company Profile

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.