Rithm Property Trust (NYSE:RPT) Stock Price Up 1.4% – Here’s Why

Rithm Property Trust Inc. (NYSE:RPT) shares rose 1.4% during mid-day trading on Friday . The stock traded as high as $14.76 and last traded at $14.73. Approximately 15,442 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 22,336 shares. The stock had previously closed at $14.52.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wall Street Zen raised shares of Rithm Property Trust from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Weiss Ratings assumed coverage on shares of Rithm Property Trust in a report on Wednesday, April 8th. They issued a “sell (d)” rating for the company. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Rithm Property Trust Stock Up 1.4%

The firm has a market capitalization of $114.45 million, a PE ratio of -50.80 and a beta of 1.25. The firm’s 50 day simple moving average is $14.49. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.13 and a current ratio of 1.13.

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

Rithm Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 9.8%. The ex-dividend date of this dividend was Friday, May 15th. Rithm Property Trust’s payout ratio is -496.55%.

Hedge Funds Weigh In On Rithm Property Trust

Several institutional investors have recently made changes to their positions in RPT. Royal Bank of Canada increased its holdings in shares of Rithm Property Trust by 750.6% during the first quarter. Royal Bank of Canada now owns 7,723 shares of the company’s stock valued at $103,000 after acquiring an additional 6,815 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Rithm Property Trust by 8.3% during the first 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 in the last quarter. Renaissance Technologies LLC increased 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 valued at $804,000 after acquiring an additional 10,800 shares in the last quarter. Finally, Family Manage LLC increased its holdings in shares of Rithm Property Trust by 0.6% during the first quarter. Family Manage LLC now owns 157,804 shares of the company’s stock valued at $2,113,000 after acquiring an additional 972 shares in the last quarter. Institutional investors and hedge funds own 58.60% of the company’s stock.

About Rithm Property Trust

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.