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

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

Analysts Set New Price Targets

A number of research firms recently commented on RPT. Weiss Ratings began coverage on Rithm Property Trust in a report on Wednesday, April 8th. They issued a “sell (d)” rating for the company. Wall Street Zen upgraded Rithm Property Trust from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Rithm Property Trust Stock Performance

The firm’s 50-day moving average price is $14.49. The stock has a market capitalization of $114.45 million, a P/E ratio of -50.80 and a beta of 1.25. 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 announced its quarterly earnings data on Friday, April 24th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The company 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%. Equities research analysts forecast that Rithm Property Trust Inc. will post 0.08 earnings per share for the current year.

Rithm Property Trust Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Family Manage LLC boosted its holdings in shares of 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 buying an additional 972 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Rithm Property Trust by 8.3% during the 1st quarter. Bank of New York Mellon Corp now owns 17,240 shares of the company’s stock worth $231,000 after buying an additional 1,328 shares during the period. Royal Bank of Canada boosted its holdings in shares of 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 buying an additional 6,815 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Rithm Property Trust by 21.9% during the 1st quarter. Renaissance Technologies LLC now owns 60,017 shares of the company’s stock worth $804,000 after buying an additional 10,800 shares during the period. 58.60% of the stock is currently owned by institutional investors.

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.