Rithm Property Trust Inc. (NYSE:RPT) Short Interest Down 48.1% in June

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RPT. 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. Weiss Ratings reiterated a “sell (d)” rating on shares of Rithm Property Trust in a research report on Monday, July 6th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Institutional Trading of Rithm Property Trust

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake 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 worth $231,000 after acquiring an additional 1,328 shares during the period. Renaissance Technologies LLC lifted its position 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. Family Manage LLC lifted its position 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. Finally, Royal Bank of Canada boosted its holdings 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 valued at $103,000 after purchasing an additional 6,815 shares in the last quarter. Institutional investors and hedge funds own 58.60% of the company’s stock.

Rithm Property Trust Price Performance

Shares of RPT stock traded down $1.25 during midday trading on Wednesday, hitting $11.51. The company had a trading volume of 292,951 shares, compared to its average volume of 40,981. The stock has a 50 day simple moving average of $14.46. Rithm Property Trust has a 52-week low of $11.45 and a 52-week high of $17.94. The firm has a market capitalization of $89.43 million, a PE ratio of -39.69 and a beta of 1.24. 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 released its earnings results on Friday, April 24th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.85 million for the quarter. Analysts anticipate 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. Shareholders of record on Tuesday, July 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 12.5%. The ex-dividend date of this dividend is Tuesday, July 7th. Rithm Property Trust’s payout ratio is currently -496.55%.

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.