Rithm Capital Stock Price, News & Analysis

Rithm Property Trust (NYSE: RPT) has announced the sale of an additional 84,232 shares of its 9.875% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock through a partial exercise of the over-allotment option. This sale generated additional gross proceeds of $2,105,800 before deducting underwriting discounts and offering expenses.

The Series C Preferred Stock began trading on the NYSE under the symbol RPT.PRC on March 12, 2025. The company plans to use the net proceeds for investments and general corporate and working capital purposes. The offering was managed by Janney Montgomery Scott , BTIG, , and Piper Sandler & Co. as book-running managers, with Lucid Capital Markets, , JonesTrading Institutional Services , and Wedbush Securities Inc. serving as co-managers.

Rithm Property Trust (NYSE: RPT) has announced that its 9.875% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock has received approval for listing on the New York Stock Exchange under the symbol 'RPT PRC'. Trading is expected to begin on March 12, 2025.

Rithm Property Trust, formerly known as Great Ajax Corp., is a real estate investment platform externally managed by a Rithm Capital Corp. (NYSE: RITM) affiliate. The company is transitioning from its historical focus on re-performing and non-performing loans secured by single-family residences and commercial properties to a flexible commercial real estate focused investment strategy.

Rithm Property Trust (NYSE: RPT) has announced the pricing of a public offering of 2,000,000 shares of its 9.875% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock at $25.00 per share, generating gross proceeds of $50 million. The company has granted underwriters a 30-day option to purchase up to 300,000 additional shares for over-allotments.

The offering is expected to close on March 4, 2025, with proceeds intended for investments and general corporate purposes. RPT plans to list the Series C Preferred Stock on the NYSE under the symbol 'RPTP'. The offering is being managed by Janney Montgomery Scott, BTIG, and Piper Sandler as book-running managers, with Lucid Capital Markets, JonesTrading, and Wedbush Securities as co-managers.

Rithm Acquisition Corp has announced the pricing of its initial public offering (IPO) of 20,000,000 units at $10.00 per unit, totaling $200 million. The units will trade on the New York Stock Exchange under the symbol 'RAC.U' starting February 27, 2025.

Each unit comprises one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant allows holders to purchase one Class A ordinary share at $11.50 per share. Once separate trading begins, the shares and warrants will trade under 'RAC' and 'RAC.WS' respectively.

The offering, expected to close on February 28, 2025, is managed by Citigroup Global Markets, BTIG, and UBS Investment Bank. Underwriters have a 45-day option to purchase up to 3,000,000 additional units to cover over-allotments.

Rithm Capital (NYSE: RITM) has announced a partial redemption of its Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock. The company will redeem $50 million worth of shares, equivalent to 2 million shares out of the outstanding 6.21 million Series A shares.

The redemption will occur on March 28, 2025, with shareholders receiving $25.00 per share in cash, plus $0.274091 per share in accumulated and unpaid distributions. The Series A shares currently trade under the ticker symbol 'RITM PR A'. A Notice of Partial Redemption was distributed to shareholders on February 26, 2025.

Rithm Property Trust Inc. (NYSE: RPT) has announced the commencement of a public offering of its Series C Fixed-to-Floating Cumulative Redeemable Preferred Stock with a $25.00 per share liquidation preference. The company plans to grant underwriters a 30-day option to purchase additional shares to cover over-allotments.

RPT intends to use the net proceeds from the offering for investments and general corporate and working capital purposes. Following the offering, the company plans to apply for listing the Series C Preferred Stock on the New York Stock Exchange.

The offering's book-running managers are Janney Montgomery Scott , BTIG, and Piper Sandler & Co., with Lucid Capital Markets, , JonesTrading Institutional Services and Wedbush Securities Inc. acting as co-managers. The offering is being made through the company's effective shelf registration statement filed with the SEC.

Formerly known as Great Ajax Corp., Rithm Property Trust is a real estate investment platform externally managed by an affiliate of Rithm Capital Corp. (NYSE: RITM) and is organized as a REIT.

Rithm Capital (NYSE: RITM) reported strong financial results for Q4 and full year 2024. The company achieved Q4 GAAP net income of $263.2 million ($0.50 per share) and earnings available for distribution of $315.8 million ($0.60 per share). For full year 2024, GAAP net income reached $835.0 million ($1.67 per share) with earnings available for distribution of $1.1 billion ($2.10 per share).

Key Q4 highlights include completing a $461 million secured MSR financing, growing total servicing UPB to $844 billion (up 32% YoY), and increasing origination volume to $17.3 billion (up 94% YoY). The company's Sculptor segment managed approximately $34 billion in AUM and closed an additional $1.0 billion for Real Estate Fund V.

The Board authorized new stock repurchase programs of up to $200 million for common stock and $100 million for preferred stock through December 31, 2025.

Rithm Capital (NYSE:RITM) has announced the tax treatment of its 2024 dividends for common and preferred stock. The company's common stock dividends totaled $1.00 per share for 2024, distributed quarterly at $0.25 per share. Each common dividend comprises $0.00533 qualified dividend and $0.24467 Section 199A dividend.

The company also detailed dividend distributions for four series of preferred stock: Series A ($2.12064/share), Series B ($2.03997/share), Series C ($1.59376/share), and Series D ($1.75000/share). All distributions were made in cash form, with specific allocations between qualified dividends and Section 199A dividends. No long-term capital gains or return of capital were included in any distributions.

Rithm Property Trust (NYSE: RPT) reported its Q4 2024 financial results, showing improvement with GAAP net income of $2.9 million ($0.06 per diluted share), compared to a loss of $8.0 million in Q3 2024. The company achieved earnings available for distribution of $0.3 million ($0.01 per diluted share).

The company's book value per common share stood at $5.44 as of December 31, 2024, with total book value at $246.9 million. During Q4, RPT paid a common dividend of $2.8 million ($0.06 per share).

Since taking over Great Ajax's management in June 2024, the company has rebranded to Rithm Property Trust and made significant progress in commercial real estate investments, acquiring $154 million in UPB of commercial mortgage-backed securities (CMBS), bringing their total CMBS investment to $244 million UPB.