Rithm Property Trust (NYSE:RPT) Stock Price Breaks Above 50-Day Moving Average – What’s Next?

Rithm Property Trust Inc. (NYSE:RPT) crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $11.32 and traded as high as $11.38. Rithm Property Trust shares last traded at $11.35, with a volume of 6,638 shares trading hands.

Analyst Ratings Changes

RPT has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Rithm Property Trust in a research note on Friday, October 2nd. Wall Street Zen upgraded Rithm Property Trust from a “sell” rating to a “hold” rating in a research note on Saturday, October 31st. Finally, Wedbush started coverage on Rithm Property Trust in a research note on Thursday, October 22nd. They set an “outperform” rating and a $13.50 price objective on the stock. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Rithm Property Trust presently has an average rating of “Hold” and a consensus target price of $13.50.

Rithm Property Trust Stock Down 2.0%

The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50 day moving average price of $11.25 and a 200 day moving average price of $12.89.

Rithm Property Trust (NYSE:RPT) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates 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. On average, research analysts expect that Rithm Property Trust Inc. will post 0.35 EPS for the current year.

Rithm Property Trust Announces Dividend

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

Institutional Trading of Rithm Property Trust

A number of hedge funds have recently modified their holdings of RPT. Family Manage LLC grew its stake in 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 buying an additional 972 shares during the last quarter. Renaissance Technologies LLC raised its holdings in 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 acquiring an additional 10,800 shares during the period. Bank of New York Mellon Corp raised its holdings in 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 acquiring an additional 1,328 shares during the period. Finally, Royal Bank of Canada lifted its position in Rithm Property Trust by 750.6% during 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 during the last quarter. 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 focused on acquiring and managing real estate-related assets. Its portfolio centers on mortgage loans and other investments tied to residential and commercial real estate. The company was formerly known as Great Ajax Corp. and is externally managed by an affiliate of Rithm Capital. Its investments and operations are primarily focused on the U.S. real estate market.