Rithm Property Trust (NYSE:RPT) Stock Bumped Up to Hold by Wall Street Zen

Key Points

• Wall Street Zen upgraded Rithm Property Trust from “sell” to “hold,” bringing the broader analyst consensus to “Hold” with an average price target of $13.50.
• RPT shares opened at $10.72, well below their 52-week high of $17.94. The stock’s 50-day and 200-day moving averages stood at $11.60 and $13.01, respectively.
• Rithm Property Trust reported quarterly EPS of $0.23, beating the $0.09 consensus estimate by $0.14; institutional investors and hedge funds own approximately 58.6% of the stock.

Rithm Property Trust (NYSE:RPT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other equities analysts have also weighed in on RPT. Weiss Ratings restated a "sell (d)" rating on shares of Rithm Property Trust in a research report on Friday, October 2nd. Wedbush began coverage on shares of Rithm Property Trust in a report on Thursday, October 22nd. They issued an "outperform" rating and a $13.50 price objective for the company. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $13.50.

Rithm Property Trust Stock Performance

Shares of RPT stock opened at $10.72 on Friday. Rithm Property Trust has a fifty-two week low of $9.80 and a fifty-two week high of $17.94. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.11. The stock's fifty day moving average is $11.60 and its two-hundred day moving average is $13.01.

Rithm Property Trust (NYSE:RPT - Get Free Report) last released its earnings results on Wednesday, October 21st. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.14. The business had revenue of $6.05 million during the quarter. Rithm Property Trust had a net margin of 12.14% and a return on equity of 2.58%. As a group, research analysts forecast that Rithm Property Trust will post 0.35 earnings per share for the current fiscal year.

Institutional Trading of Rithm Property Trust

A number of hedge funds and other institutional investors have recently modified their holdings of RPT. Royal Bank of Canada grew its holdings in shares of Rithm Property Trust by 750.6% in the first 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 during the period. Bank of New York Mellon Corp grew its stake in shares of Rithm Property Trust by 8.3% in the 1st quarter. Bank of New York Mellon Corp now owns 17,240 shares of the company's stock valued at $231,000 after buying an additional 1,328 shares during the period. Renaissance Technologies LLC increased 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 last quarter. Finally, Family Manage LLC raised its position 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 valued at $2,113,000 after buying an additional 972 shares during the period. 58.60% of the stock is owned by institutional investors and hedge funds.

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.

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