Welcome to our dedicated page for Rithm Property Trust news (Ticker: RPT), a resource for investors and traders seeking the latest updates and insights on Rithm Property Trust stock.
Rithm Property Trust Inc. reports developments for a real estate investment trust organized as a Maryland corporation and externally managed by an affiliate of Rithm Capital Corp. The company follows a flexible commercial real estate-focused investment strategy and communicates operating results using measures such as GAAP comprehensive income or loss, earnings available for distribution, dividends and book value.
Recurring news for RPT includes quarterly and annual earnings releases, common and preferred stock dividend declarations, tax treatment of distributions, stock repurchase authorization updates and other capital actions tied to its listed common stock and 9.875% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock.
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 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 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.
Rithm Property Trust (NYSE:RPT) has disclosed the tax treatment of its 2024 common stock distributions. The company's total distributions for 2024 amounted to $0.28 per share, consisting entirely of return of capital. The distributions were paid quarterly as follows:
- Q1 2024: $0.10 per share (paid March 29)
- Q2 2024: $0.06 per share (paid May 30)
- Q3 2024: $0.06 per share (paid August 30)
- Q4 2024: $0.06 per share (paid November 29)
None of the distributions qualified as ordinary dividends, qualified dividends, Section 199A dividends, or long-term capital gains.
Rithm Property Trust (NYSE: RPT) has announced its schedule for the release of fourth quarter 2024 financial results. The company will publish its earnings report for the period ended December 31, 2024, on Thursday, January 30, 2025, before the NYSE opening.
Management will host a conference call on the same day at 8:00 A.M. Eastern Time. Investors can access the call by dialing 1-888-596-4144 (U.S.) or 1-646-968-2525 (international) with conference ID '5035792'. A simultaneous webcast will be available on the company's website, with pre-registration available at the provided link.
A replay of the conference call will be accessible for two weeks until February 13, 2025, through the company's website.
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