Rithm Property Trust (NYSE:RPT) Shares Break Above 50-Day Moving Average – Should You Sell?

Shares of Rithm Property Trust Inc. (NYSE:RPT) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $11.32 and traded as high as $11.38. Rithm Property Trust shares last traded at $11.35, with a volume of 6,638 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RPT shares. Wedbush initiated coverage on shares of Rithm Property Trust in a report on Thursday, October 22nd. They issued an “outperform” rating and a $13.50 target price on the stock. Wall Street Zen raised Rithm Property Trust from a “sell” rating to a “hold” rating in a report on Saturday, October 31st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Rithm Property Trust in a research note on Friday, October 2nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Rithm Property Trust currently has a consensus rating of “Hold” and an average price target of $13.50.

Rithm Property Trust Price Performance

The business has a 50 day simple moving average of $11.32 and a 200-day simple moving average of $12.91. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $89.78 million, a P/E ratio of 75.67 and a beta of 1.26.

Rithm Property Trust (NYSE:RPT) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.09 by $0.14. Rithm Property Trust had a net margin of 12.14% and a return on equity of 2.58%. The business had revenue of $6.05 million for the quarter. On average, sell-side analysts forecast that Rithm Property Trust Inc. will post 0.35 EPS for the current year.

Rithm Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, October 30th will be paid a $0.36 dividend. The ex-dividend date is Friday, October 30th. This represents a $1.44 annualized dividend and a yield of 12.7%. Rithm Property Trust’s dividend payout ratio is presently 960.00%.

Hedge Funds Weigh In On Rithm Property Trust

Several institutional investors and hedge funds have recently bought and sold shares of RPT. Family Manage LLC increased its position in Rithm Property Trust by 0.6% in the first quarter. Family Manage LLC now owns 157,804 shares of the company’s stock worth $2,113,000 after buying an additional 972 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Rithm Property Trust by 21.9% in the first quarter. Renaissance Technologies LLC now owns 60,017 shares of the company’s stock valued at $804,000 after buying an additional 10,800 shares during the period. Bank of New York Mellon Corp raised its stake 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 buying an additional 1,328 shares during the period. Finally, 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 valued at $103,000 after buying an additional 6,815 shares during the last quarter. 58.60% of the stock is owned by institutional investors.

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.