Rithm Property Trust (NYSE:RPT) Issues Earnings Results

Rithm Property Trust (NYSE:RPT) released its earnings results on Wednesday. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.14, FiscalAI reports. Rithm Property Trust had a return on equity of 2.58% and a net margin of 12.14%. The business had revenue of $6.05 million for the quarter.

Rithm Property Trust Stock Up 5.9%

Shares of RPT opened at $11.53 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.91. The stock has a fifty day moving average price of $11.85. The company has a market cap of $89.59 million, a PE ratio of -44.35 and a beta of 1.27. 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 declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, October 30th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 12.5%. The ex-dividend date of this dividend is Friday, October 30th. Rithm Property Trust’s dividend payout ratio is -553.85%.

Analysts Set New Price Targets

RPT has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Rithm Property Trust in a report on Friday, October 2nd. Wedbush reaffirmed an “outperform” rating and set a $13.50 target price on shares of Rithm Property Trust in a research note on Thursday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.50.

Hedge Funds Weigh In On Rithm Property Trust

Several institutional investors and hedge funds have recently bought and sold shares of the company. Family Manage LLC increased 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. Bank of New York Mellon Corp lifted its stake in shares of 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 valued at $231,000 after acquiring an additional 1,328 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Rithm Property Trust by 750.6% in the first quarter. Royal Bank of Canada now owns 7,723 shares of the company’s stock worth $103,000 after purchasing an additional 6,815 shares during the last quarter. Finally, 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 period. 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.