Short Interest in Rithm Property Trust Inc. (NYSE:RPT) Decreases By 48.1%

Key Points

• Short interest in Rithm Property Trust plunged 48.1% in June, falling to 200,797 shares as of June 30 from 387,240 two weeks earlier. That amounts to 2.6% of the float and a days-to-cover ratio of 1.8.
• The stock dropped 9.8% in Wednesday trading to $11.51, near its 52-week low of $11.45. Its 50-day moving average is $14.46, indicating recent weakness versus its prior trading range.
• Rithm Property Trust recently declared a quarterly dividend of $0.36 per share, equal to a 12.5% annualized yield. The company also posted a smaller-than-expected quarterly loss, with EPS of -$0.04 versus estimates of -$0.06.

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

Institutional Investors Weigh In On Rithm Property Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in 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 acquiring an additional 6,815 shares in 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 purchasing an additional 1,328 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Rithm Property Trust by 21.9% in 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 during the last quarter. Finally, Family Manage LLC boosted its position 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. 58.60% of the stock is currently owned by institutional investors and hedge funds.

Rithm Property Trust Trading Down 9.8%

RPT stock traded down $1.25 during trading on Wednesday, hitting $11.51. 292,951 shares of the company's stock were exchanged, compared to its average volume of 40,981. The firm's 50-day moving average price is $14.46. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $89.43 million, a PE ratio of -39.69 and a beta of 1.24. Rithm Property Trust has a 52-week low of $11.45 and a 52-week high of $17.94.

Rithm Property Trust (NYSE:RPT - Get Free Report) last announced its quarterly earnings results on Friday, April 24th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. Rithm Property Trust had a net margin of 5.52% and a return on equity of 1.27%. The company had revenue of $2.85 million for the quarter. On average, equities research analysts anticipate that Rithm Property Trust will post 0.08 earnings per share for the current fiscal year.

Rithm Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th will be issued a $0.36 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $1.44 annualized dividend and a dividend yield of 12.5%. Rithm Property Trust's dividend payout ratio is presently -496.55%.

Analyst Ratings Changes

RPT has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Rithm Property Trust from a "strong sell" rating to a "sell" rating in a report on Sunday, May 10th. Weiss Ratings reiterated a "sell (d)" rating on shares of Rithm Property Trust in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Sell".

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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