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

Rithm Property Trust Inc. (NYSE:RPT) was the target of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 181,074 shares, a decrease 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. Approximately 2.3% of the shares of the stock are sold short.

Institutional Investors Weigh In On Rithm Property Trust

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its position in shares of 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 acquiring an additional 6,815 shares in the last quarter. Bank of New York Mellon Corp lifted its stake 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 worth $231,000 after purchasing an additional 1,328 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Rithm Property Trust by 21.9% in 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. Finally, Family Manage LLC boosted its holdings in Rithm Property Trust by 0.6% in the first quarter. Family Manage LLC now owns 157,804 shares of the company’s stock worth $2,113,000 after purchasing an additional 972 shares during the period. 58.60% of the stock is owned by institutional investors and hedge funds.

Rithm Property Trust Stock Down 1.3%

RPT stock traded down $0.17 during trading on Tuesday, hitting $12.53. The company had a trading volume of 45,395 shares, compared to its average volume of 54,819. The stock has a market cap of $97.36 million, a price-to-earnings ratio of -48.20 and a beta of 1.25. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.00 and a current ratio of 1.00. The company has a 50-day simple moving average of $13.01. Rithm Property Trust has a 1-year low of $9.80 and a 1-year high of $17.94.

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

Rithm Property Trust Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently commented on RPT. Wedbush upgraded Rithm Property Trust to a “strong-buy” rating in a research report on Wednesday, July 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Rithm Property Trust in a research report on Monday, July 6th. Finally, 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 equities 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

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.