Rithm Property Trust’s (RPT) Outperform Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of Rithm Property Trust (NYSE:RPT) in a research report released on Thursday morning,Benzinga reports. Wedbush currently has a $13.50 price objective on the stock.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Rithm Property Trust in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $13.50.

Rithm Property Trust Stock Down 2.6%

Shares of RPT opened at $11.15 on Thursday. Rithm Property Trust has a 52 week low of $9.80 and a 52 week high of $17.94. The company has a quick ratio of 1.00, a current ratio of 1.11 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $86.67 million, a P/E ratio of 74.34 and a beta of 1.27. The business has a 50-day moving average of $11.80.

Rithm Property Trust (NYSE:RPT) last posted its earnings results on Wednesday, October 21st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.09 by $0.14. The firm had revenue of $6.05 million for the quarter. Rithm Property Trust had a return on equity of 2.58% and a net margin of 12.14%. As a group, equities analysts anticipate that Rithm Property Trust will post -0.03 EPS for the current fiscal year.

Rithm Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, October 30th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 12.9%. The ex-dividend date is Friday, October 30th. Rithm Property Trust’s dividend payout ratio (DPR) is currently 960.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RPT. Royal Bank of Canada boosted its stake 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 acquiring an additional 6,815 shares in the last quarter. Family Manage LLC increased its stake in shares of Rithm Property Trust by 0.6% in the 1st 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 in the last quarter. Renaissance Technologies LLC increased its stake in shares of Rithm Property Trust by 21.9% in the 1st quarter. Renaissance Technologies LLC now owns 60,017 shares of the company’s stock valued at $804,000 after purchasing an additional 10,800 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Rithm Property Trust by 8.3% in the 1st 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 period. Hedge funds and other institutional investors 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.