Rithm Property Trust Inc. (NYSE:RPT) Short Interest Down 33.7% in August

Rithm Property Trust Inc. (NYSE:RPT) saw a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 181,074 shares, a drop of 33.7% from the July 30th total of 273,130 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily trading volume, of 69,443 shares, the days-to-cover ratio is currently 2.6 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in shares of 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 buying an additional 10,800 shares in the last quarter. Royal Bank of Canada raised 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 valued at $103,000 after buying an additional 6,815 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Rithm Property Trust by 8.3% in the first 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 in the last quarter. Finally, Family Manage LLC lifted its stake in shares of 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 buying an additional 972 shares in the last quarter. 58.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RPT has been the topic of a number of recent analyst reports. Wedbush upgraded Rithm Property Trust to a “strong-buy” rating in a research report on Wednesday, July 29th. Weiss Ratings restated a “sell (d)” rating on shares of Rithm Property Trust in a research report on Monday, July 6th. Finally, Wall Street Zen raised Rithm Property Trust from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Rithm Property Trust Stock Performance

Shares of RPT traded down $0.42 during mid-day trading on Wednesday, hitting $12.17. 5,694 shares of the company were exchanged, compared to its average volume of 54,522. Rithm Property Trust has a 1-year low of $9.80 and a 1-year high of $17.94. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.91. The firm’s 50 day simple moving average is $12.97. The stock has a market cap of $94.56 million, a PE ratio of -46.81 and a beta of 1.23.

Rithm Property Trust (NYSE:RPT) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $4.06 million for the quarter. Research analysts anticipate that Rithm Property Trust will post 0.18 earnings per share for the current fiscal year.

Rithm Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, July 7th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 11.8%. The ex-dividend date was Tuesday, July 7th. Rithm Property Trust’s payout ratio is presently -553.85%.

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.