Rithm Property Trust (NYSE:RPT) Stock Moved Up to Hold by Wall Street Zen

Wall Street Zen upgraded shares of Rithm Property Trust (NYSE:RPT) from a sell rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other analysts have also recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Rithm Property Trust in a research report on Friday, October 2nd. Wedbush started coverage on Rithm Property Trust in a report on Thursday, October 22nd. They issued an “outperform” rating and a $13.50 target price for the company. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.50.

Rithm Property Trust Stock Down 5.4%

RPT stock opened at $10.72 on Friday. The company’s 50 day moving average is $11.60 and its two-hundred day moving average is $13.01. Rithm Property Trust has a twelve month low of $9.80 and a twelve month high of $17.94. The company has a current ratio of 1.11, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34. The stock has a market cap of $83.29 million, a P/E ratio of 71.47 and a beta of 1.27.

Rithm Property Trust (NYSE:RPT) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $6.05 million during the quarter. Research analysts expect that Rithm Property Trust will post 0.35 earnings per share for the current fiscal year.

Rithm Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, October 30th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.4%. The ex-dividend date of this dividend is Friday, October 30th. Rithm Property Trust’s payout ratio is presently 960.00%.

Institutional Trading of Rithm Property Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its position in 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 purchasing an additional 6,815 shares during the last quarter. Bank of New York Mellon Corp increased 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 purchasing an additional 1,328 shares during the period. Renaissance Technologies LLC increased its stake in 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 purchasing an additional 10,800 shares during the period. Finally, Family Manage LLC increased its stake in Rithm Property Trust by 0.6% in the first 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. 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.