Short Interest in Rithm Property Trust Inc. (NYSE:RPT) Drops By 33.7%

Key Points

• Short interest fell 33.7% to 181,074 shares as of August 14, down from 273,130 shares on July 30. Short interest now represents 2.3% of outstanding shares, with a days-to-cover ratio of 2.6.
• Rithm Property Trust shares recently traded at $12.53, while the company reported quarterly EPS of -$0.01, beating the consensus estimate of -$0.04. The company also pays a quarterly dividend of $0.36, equivalent to a 11.5% annualized yield.
• Analyst sentiment is mixed, with one strong-buy and one sell rating producing a “Moderate Buy” average rating. Institutional investors own 58.6% of the company, and several funds—including Royal Bank of Canada and Renaissance Technologies—recently increased their holdings.

Rithm Property Trust Inc. (NYSE:RPT - Get Free Report) was the target of a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 181,074 shares, a decline of 33.7% from the July 30th total of 273,130 shares. Based on an average trading volume of 69,443 shares, the days-to-cover ratio is presently 2.6 days. Currently, 2.3% of the shares of the company are sold short.

Rithm Property Trust Stock Performance

Shares of NYSE RPT traded down $0.17 during midday trading on Tuesday, hitting $12.53. 45,395 shares of the company's stock traded hands, compared to its average volume of 54,819. Rithm Property Trust has a 1 year low of $9.80 and a 1 year high of $17.94. The stock has a market capitalization of $97.36 million, a PE ratio of -48.20 and a beta of 1.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 1.00. The company has a fifty day moving average price of $13.01.

Rithm Property Trust (NYSE:RPT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.03. The company had revenue of $4.06 million during the quarter. Rithm Property Trust had a return on equity of 1.20% and a net margin of 5.87%. On average, equities analysts anticipate that Rithm Property Trust will post 0.18 earnings per share for the current year.

Rithm Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th were given a dividend of $0.36 per share. The ex-dividend date was Tuesday, July 7th. This represents a $1.44 dividend on an annualized basis and a yield of 11.5%. Rithm Property Trust's dividend payout ratio is -553.85%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RPT. Weiss Ratings reissued a "sell (d)" rating on shares of Rithm Property Trust in a report on Monday, July 6th. Wedbush raised Rithm Property Trust to a "strong-buy" rating in a research report on Wednesday, July 29th. Finally, 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 analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy".

Hedge Funds Weigh In On Rithm Property Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Family Manage LLC grew 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 worth $2,113,000 after buying an additional 972 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings 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. Royal Bank of Canada grew its stake 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 purchasing an additional 6,815 shares during the period. Finally, 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 valued at $804,000 after purchasing an additional 10,800 shares in the last quarter. 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.

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