Rithm Property Trust Reports Q1 2025 Financial Results

Great Ajax Corp ( (RPT) ) has released its Q1 earnings. Here is a breakdown of the information Great Ajax Corp presented to its investors.

Rithm Property Trust Inc. is a real estate investment trust (REIT) focused on acquiring, investing in, and managing re-performing and non-performing loans secured by single-family residences and commercial properties, with a strategic shift towards commercial real estate investments.

In the first quarter of 2025, Rithm Property Trust reported a GAAP comprehensive income of $1.1 million, translating to $0.02 per diluted common share. The company maintained a common dividend of $0.06 per share, reflecting a total payout of $2.7 million. The book value per common share was reported at $5.40.

Key financial highlights include the deployment of $64 million into commercial real estate investments, with significant acquisitions in commercial mortgage-backed securities and a floating rate senior subordinate mortgage loan. The company also issued 2,084,232 shares of preferred stock, raising net proceeds of $50.8 million, and sold legacy RMBS, reducing its portfolio to a total UPB of $101.1 million.

Despite a challenging macroeconomic environment, Rithm Property Trust’s management remains optimistic about the company’s growth trajectory, emphasizing the strength of its platform and expertise in real estate. The focus remains on capitalizing on investment opportunities and transforming the RPT platform to create value for shareholders.