Rithm Property Trust Inc. (NYSE:RPT) Sees Large Drop in Short Interest

Rithm Property Trust Inc. (NYSE:RPT) was the recipient of a significant decline in short interest in June. As of June 30th, there was short interest totaling 200,797 shares, a decline of 48.1% from the June 15th total of 387,240 shares. Currently, 2.6% of the company’s stock are short sold. Based on an average daily volume of 112,032 shares, the short-interest ratio is presently 1.8 days.

Institutional Trading of Rithm Property Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Family Manage LLC boosted its position 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 during the period. Bank of New York Mellon Corp lifted 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 buying an additional 1,328 shares during the last quarter. Royal Bank of Canada lifted its stake 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 last quarter. Finally, Renaissance Technologies LLC boosted its holdings 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 acquiring an additional 10,800 shares during the period. Institutional investors and hedge funds own 58.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RPT. Weiss Ratings restated a “sell (d)” rating on shares of Rithm Property Trust in a research note on Monday, July 6th. Wall Street Zen raised Rithm Property Trust from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Rithm Property Trust Stock Performance

RPT stock traded up $0.20 during midday trading on Friday, reaching $10.95. 337,241 shares of the company were exchanged, compared to its average volume of 46,171. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.93. Rithm Property Trust has a 1-year low of $10.39 and a 1-year high of $17.94. The company’s 50-day moving average price is $14.31. The company has a market capitalization of $85.08 million, a P/E ratio of -37.76 and a beta of 1.24.

Rithm Property Trust (NYSE:RPT) last issued its earnings results on Friday, April 24th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. The business had revenue of $2.85 million during the quarter. Rithm Property Trust had a net margin of 5.52% and a return on equity of 1.27%. On average, research analysts anticipate that Rithm Property Trust will post 0.08 earnings per share for the current year.

Rithm Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 13.2%. The ex-dividend date is Tuesday, July 7th. Rithm Property Trust’s dividend payout ratio is currently -496.55%.

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.