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Rithm Property Trust (RPT)
NYSE:RPT
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Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.27Last Year’s EPS
-0.07Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2018
|% Change Since: -9.40%
|Next Earnings Date:Aug 07, 2018
Earnings Call Sentiment|Neutral
The earnings call presents a mixed picture: while the company has made significant progress in reducing legacy assets and increasing net interest income, it continues to face challenges such as a GAAP net income loss, negative earnings available for distribution, and high-cost debt. The company is optimistic about future growth opportunities and is actively seeking transformational deals, but current financial difficulties and dividend sustainability remain concerns.Company Guidance
During the Great Ajax Third Quarter 2024 Earnings Call, Michael Nierenberg, CEO of Great Ajax, provided detailed guidance on the company's strategic direction and financial performance. He emphasized the ongoing effort to transition from legacy residential assets to commercial mortgage-backed securities (CMBS) with a focus on achieving breakeven earnings by the end of Q1 2025, excluding dividends. The company maintained its dividend at $0.06 per share, aiming for a dividend yield of 7.2%. The reported book value remained stable at $5.47 per share, while GAAP net loss was $8 million, or $0.18 per diluted share, and earnings available for distribution stood at a negative $5.4 million, or $0.12 per diluted share. Nierenberg highlighted the sale of $85 million in residential mortgage loans and $62.7 million in residential securities during the quarter, which generated $18 million and $14 million in cash, respectively. By the end of Q3, net interest income had increased by 126% to $3.6 million. He also noted the company’s efforts to reduce servicing expenses by approximately 30% and improve cost of funds by 28 basis points. Looking ahead, Nierenberg expressed confidence in transforming Great Ajax, soon to be renamed Rithm Property Trust, into a strong cash-flowing real estate investment platform, with strategic investments and asset management being key drivers of future profitability.Legacy Asset Reduction
During Q3, Great Ajax sold $85 million of residential mortgage loans and $62.7 million of residential securities, significantly reducing their legacy asset holdings by approximately 91% since the end of Q1.
Increase in Net Interest Income
Net interest income increased by 126% from $1.6 million to $3.6 million by the end of Q3.
Cash Reserves and Deployment
The company has $84 million in cash and equivalents, with $30 million available for investment, and has deployed $100 million into AAA CMBS at a 12% levered return.
Potential for Future Growth
The company is looking for large transformational deals and has a strategy to increase earnings through strategic transactions, maintaining a clean platform for future opportunities.
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RPT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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RPT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 21, 2024 | $3.19 | $3.19 | 0.00% |
| Jul 24, 2024 | $3.71 | $3.36 | -9.43% |
| May 03, 2024 | $3.44 | $3.32 | -3.49% |
| Feb 26, 2024 | $4.63 | $4.59 | -0.86% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Rithm Property Trust (RPT) report earnings?
Rithm Property Trust (RPT) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is Rithm Property Trust (RPT) earnings time?
Rithm Property Trust (RPT) earnings time is at Feb 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is RPT EPS forecast?
RPT EPS forecast for the fiscal quarter 2024 (Q4) is -0.27.
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