Rithm Property Trust (NYSE:RPT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Rithm Property Trust (NYSE:RPT) from a sell rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

RPT has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Rithm Property Trust in a research note on Friday, October 2nd. Wedbush assumed coverage on Rithm Property Trust in a report on Thursday, October 22nd. They set an “outperform” rating and a $13.50 price target on the stock. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.50.

Rithm Property Trust Stock Up 1.0%

RPT opened at $10.83 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.11 and a quick ratio of 1.00. The company’s 50 day simple moving average is $11.56 and its two-hundred day simple moving average is $13.00. 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 issued its earnings results on Wednesday, October 21st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.14. Rithm Property Trust had a return on equity of 2.58% and a net margin of 12.14%. The business had revenue of $6.05 million for the quarter. Research analysts anticipate that Rithm Property Trust will post 0.35 earnings per share for the current year.

Rithm Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, October 30th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 13.3%. The ex-dividend date is Friday, October 30th. Rithm Property Trust’s payout ratio is currently 960.00%.

Hedge Funds Weigh In On Rithm Property Trust

Several hedge funds have recently bought and sold shares of RPT. Royal Bank of Canada boosted its holdings in Rithm Property Trust by 750.6% during the 1st 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 during the period. Bank of New York Mellon Corp increased 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 period. Renaissance Technologies LLC increased 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 worth $804,000 after purchasing an additional 10,800 shares during the period. Finally, Family Manage LLC increased 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 worth $2,113,000 after purchasing an additional 972 shares during the period. Institutional investors and hedge funds own 58.60% of the company’s stock.

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.