Short Interest in Rithm Property Trust Inc. (NYSE:RPT) Declines By 48.1%

Rithm Property Trust Inc. (NYSE:RPT) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 200,797 shares, a drop of 48.1% from the June 15th total of 387,240 shares. Based on an average trading volume of 112,032 shares, the short-interest ratio is currently 1.8 days. Approximately 2.6% of the shares of the company are sold short.

Rithm Property Trust Trading Down 7.9%

Shares of NYSE:RPT traded down $0.91 during mid-day trading on Thursday, reaching $10.57. 404,595 shares of the company traded hands, compared to its average volume of 100,797. The stock’s 50 day simple moving average is $14.31. Rithm Property Trust has a 52 week low of $10.39 and a 52 week high of $17.94. 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 (NYSE:RPT) last released its earnings results on Friday, April 24th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. Rithm Property Trust had a net margin of 5.52% and a return on equity of 1.27%. The company had revenue of $2.85 million for the quarter. As a group, equities research analysts expect that Rithm Property Trust will post 0.08 EPS for the current year.

Rithm Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 13.6%. The ex-dividend date is Tuesday, July 7th. Rithm Property Trust’s dividend payout ratio (DPR) is presently -496.55%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Royal Bank of Canada increased its stake in Rithm Property Trust by 750.6% in the 1st quarter. Royal Bank of Canada now owns 7,723 shares of the company’s stock worth $103,000 after buying an additional 6,815 shares in the last quarter. Bank of New York Mellon Corp lifted its position 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 acquiring an additional 1,328 shares in the last quarter. Renaissance Technologies LLC boosted 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 worth $804,000 after acquiring an additional 10,800 shares during the period. Finally, Family Manage LLC boosted its stake in shares of 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 acquiring 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.