Rithm Property Trust reports Q4 EAD 1c from (12c) in the previous quarter

Book value per common share $5.44 vs. $5.47 at previous quarter end. “When we took over the management of Great Ajax in June of 2024, we set out to reposition the Company to take advantage of a great opportunity to deploy capital into commercial real estate,” said CEO Michael Nierenberg. “We have since changed the company’s name to Rithm Property Trust (RPT), repositioned the balance sheet, stabilized book value and grown earnings into positive territory from a loss of $12.7M in Q2’24 to a net income of $2.9M this quarter. While we continue to work toward our long-term objectives, we believe in Rithm Property Trust and our ability to grow shareholder value.”