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

Rithm Property Trust (NYSE:RPT) was upgraded by equities researchers at Wedbush to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other analysts have also issued reports on RPT. Weiss Ratings reissued a “sell (d)” rating on shares of Rithm Property Trust in a research report on Monday, July 6th. Wall Street Zen raised shares of Rithm Property Trust from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Rithm Property Trust Trading Down 1.4%

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

Rithm Property Trust (NYSE:RPT) last announced 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. Rithm Property Trust had a return on equity of 1.20% and a net margin of 5.87%.The firm had revenue of $4.06 million during the quarter. Equities analysts forecast that Rithm Property Trust will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On Rithm Property Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in RPT. Renaissance Technologies LLC lifted 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 buying an additional 10,800 shares during the last quarter. Royal Bank of Canada increased its holdings 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 worth $103,000 after buying an additional 6,815 shares during the last quarter. Bank of New York Mellon Corp raised its position in 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 valued at $231,000 after acquiring an additional 1,328 shares in the last quarter. Finally, Family Manage LLC raised its position 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 acquiring an additional 972 shares in the last quarter. 58.60% of the stock is owned by hedge funds and other institutional investors.

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.