Rithm Property Trust's (RPT) Outperform Rating Reaffirmed at Wedbush

Key Points

• Wedbush reaffirmed its “Outperform” rating on Rithm Property Trust with a $13.50 price target, implying 23.18% potential upside from the prior close. MarketBeat’s consensus view is “Hold,” reflecting mixed analyst opinions.
• Rithm Property Trust reported quarterly EPS of $0.23, beating the $0.09 analyst consensus by $0.14, on revenue of $6.05 million.
• The stock opened at $10.96 and remains below its 50-day moving average of $11.88; institutional investors and hedge funds own approximately 58.6% of the company.

Rithm Property Trust (NYSE:RPT - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities research analysts at Wedbush in a report issued on Thursday, Benzinga reports. They currently have a $13.50 target price on the stock. Wedbush's target price points to a potential upside of 23.18% from the company's previous close.

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Rithm Property Trust in a research report on Friday, October 2nd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $13.50.

Rithm Property Trust Stock Down 0.5%

NYSE:RPT opened at $10.96 on Thursday. The stock's fifty day moving average price is $11.88. Rithm Property Trust has a 52-week low of $9.80 and a 52-week high of $17.94. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.00 and a current ratio of 1.00.

Rithm Property Trust (NYSE:RPT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.14. The firm had revenue of $6.05 million for the quarter. Rithm Property Trust had a return on equity of 1.20% and a net margin of 5.87%. Analysts forecast that Rithm Property Trust will post 0.18 earnings per share for the current fiscal year.

Institutional Trading of Rithm Property Trust

Institutional investors have recently bought and sold shares of the business. Family Manage LLC lifted its stake in shares of Rithm Property Trust by 0.6% in 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. Renaissance Technologies LLC grew its stake 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 during the period. Bank of New York Mellon Corp grew 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 purchasing an additional 1,328 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of Rithm Property Trust by 750.6% during the first quarter. Royal Bank of Canada now owns 7,723 shares of the company's stock worth $103,000 after purchasing an additional 6,815 shares during the period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.