Rithm Property Trust (NYSE:RPT) Trading 1.4% Higher – Time to Buy?

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

Analysts Set New Price Targets

Several research firms have issued reports on RPT. Weiss Ratings started coverage on shares of Rithm Property Trust in a research note on Wednesday, April 8th. They set a “sell (d)” rating on the stock. Wall Street Zen upgraded shares of Rithm Property Trust from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. One investment 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 company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.93. The stock’s fifty day moving average price is $14.49. The company has a market capitalization of $114.45 million, a price-to-earnings ratio of -50.80 and a beta of 1.25.

Rithm Property Trust (NYSE:RPT) last posted its quarterly earnings data on Friday, April 24th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. Rithm Property Trust had a return on equity of 1.27% and a net margin of 5.52%.The firm had revenue of $2.85 million for the quarter. As a group, research analysts forecast that Rithm Property Trust Inc. will post 0.08 EPS for the current year.

Rithm Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given 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 dividend payout ratio (DPR) is presently -496.55%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in 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 during the period. Bank of New York Mellon Corp boosted its stake 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 worth $231,000 after acquiring an additional 1,328 shares during the period. Renaissance Technologies LLC grew its position 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 worth $804,000 after purchasing an additional 10,800 shares in the last quarter. Finally, Family Manage LLC raised its stake in Rithm Property Trust by 0.6% during 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. Institutional investors 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.