Rithm Property Trust (NYSE:RPT) Raised to Strong-Buy at Wedbush

Key Points

• Wedbush upgraded Rithm Property Trust to “strong buy,” while other analysts remain divided; MarketBeat’s consensus rating is “moderate buy.”
• RPT reported quarterly EPS of -$0.01, beating estimates of -$0.04, on revenue of $4.06 million. Analysts expect full-year EPS of $0.08.
• The shares opened at $12.15, well below their 52-week high of $17.94, while institutional investors and hedge funds own 58.6% of the stock.

Rithm Property Trust (NYSE:RPT - Get Free Report) was upgraded by investment analysts at Wedbush to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

A number of other research analysts have also 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 restated a "sell (d)" rating on shares of Rithm Property Trust in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy".

Rithm Property Trust Stock Performance

Shares of NYSE RPT opened at $12.15 on Wednesday. Rithm Property Trust has a 1 year low of $9.80 and a 1 year high of $17.94. The company has a market cap of $94.41 million, a price-to-earnings ratio of -46.74 and a beta of 1.24. The firm's fifty day moving average price is $13.79. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.93.

Rithm Property Trust (NYSE:RPT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.03. The company had revenue of $4.06 million for the quarter. Rithm Property Trust had a return on equity of 1.20% and a net margin of 5.87%. On average, research analysts predict that Rithm Property Trust will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rithm Property Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its position in shares of 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 during the period. Bank of New York Mellon Corp raised its holdings in Rithm Property Trust by 8.3% during the 1st quarter. Bank of New York Mellon Corp now owns 17,240 shares of the company's stock worth $231,000 after buying an additional 1,328 shares during the period. Renaissance Technologies LLC lifted its stake in Rithm Property Trust by 21.9% during the first quarter. Renaissance Technologies LLC now owns 60,017 shares of the company's stock valued at $804,000 after buying an additional 10,800 shares in the last quarter. Finally, Family Manage LLC lifted its stake in Rithm Property Trust by 0.6% during the first 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 in the last quarter. 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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