Rithm Property Trust (RPT)
NYSE:RPT
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Rithm Property Trust
(NYSE:RPT)
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Rating:46Neutral
Price Target:
$14.00
▼(-3.05% Downside)
Action:ReiteratedDate:04/24/26
The score is held back primarily by weak financial performance—volatile profitability, high leverage, and negative 2025 cash generation. Technicals are modestly supportive and the dividend yield is attractive, but the very high P/E and earnings-call risks (near-term losses and potential dilution/timing constraints) limit the overall rating.
Positive Factors
Large commercial pipeline and strategic CRE repositioning
A roughly $2 billion pipeline and explicit shift toward commercial real estate and opportunistic CRE debt/multifamily creates durable deal flow. This strategic repositioning broadens higher-yield opportunity sets, supporting sustained revenue growth and potential scale if management deploys selectively.
Negative Factors
Elevated leverage (debt-to-equity ~2.54x)
High leverage constrains financial flexibility, amplifies earnings volatility and increases interest expense sensitivity. With unsecured debt costing roughly 7–9%, elevated leverage limits ability to pursue large investments internally and raises refinancing and liquidity risk during stress periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Large commercial pipeline and strategic CRE repositioning
A roughly $2 billion pipeline and explicit shift toward commercial real estate and opportunistic CRE debt/multifamily creates durable deal flow. This strategic repositioning broadens higher-yield opportunity sets, supporting sustained revenue growth and potential scale if management deploys selectively.
Read all positive factors
Rithm Property Trust (RPT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$113.79M
Dividend Yield9.13%
Average Volume (3M)165.04K
Price to Earnings (P/E)―
Beta (1Y)0.68
Revenue Growth20.77%
EPS Growth90.54%
CountryUS
Employees1
SectorReal Estate
Sector Strength53
IndustryREIT - Mortgage
Share Statistics
EPS (TTM)-0.35
Shares Outstanding7,772,564
10 Day Avg. Volume177,342
30 Day Avg. Volume165,037
Financial Highlights & Ratios
PEG Ratio-0.88
Price to Book (P/B)0.43
Price to Sales (P/S)2.38
P/FCF Ratio-27.92
Enterprise Value/Market Cap5.74
Enterprise Value/Revenue17.99
Enterprise Value/Gross Profit44.00
Enterprise Value/Ebitda-1.67K
Forecast
1Y Price Target
$24.00Price Target Upside66.20% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.12
Revenue Forecast (FY)$28.10M
Rithm Property Trust Business Overview & Revenue Model
Company Description
RPT Realty owns and operates a national portfolio of open-air shopping destinations principally located in top U.S. markets. The Company's shopping centers offer diverse, locally-curated consumer experiences that reflect the lifestyles of their su...
How the Company Makes Money
RPT primarily makes money by generating rental and related property income from tenants leasing space in its owned properties. Key revenue streams generally include base rent collected under lease agreements and may include tenant reimbursements a...
Rithm Property Trust Earnings Call Summary
Earnings Call Date:Apr 24, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Neutral
The call emphasized material operational progress: a cleaned balance sheet, meaningful G&A cuts (~54%), maintained dividend (10.8% yield), a ~$2 billion pipeline, and strong growth prospects from the Genesis platform. However, near-term financial results were slightly negative (GAAP −$3.2M; EAD −$0.3M), the company remains small relative to target opportunities, and management is intentionally holding cash while seeking accretive deals—creating short-term inactivity and potential dilution risks if capital is raised. Overall, the tone is cautiously constructive: operationally improved and well-positioned, but constrained by scale and selective deployment timing.Positive Updates
Cleaned Balance Sheet and Liquidity Position
Cash and liquidity just under $100 million; balance sheet described as "extremely clean" with no problem loans; commercial real estate portfolio ~ $236 million and total equity ~ $287 million.
Negative Updates
Negative GAAP and EAD Results
GAAP net income for the quarter was negative $3.2 million (−$0.42 per diluted share); earnings available for distribution (EAD) negative $0.3 million (−$0.04 per diluted share).
Read all updates
Q1-2026 Updates
Positive
Negative
Cleaned Balance Sheet and Liquidity Position
Cash and liquidity just under $100 million; balance sheet described as "extremely clean" with no problem loans; commercial real estate portfolio ~ $236 million and total equity ~ $287 million.
Read all positive updates
Company Guidance
Management's guidance was to remain patient and opportunistic while continuing the $0.36 quarterly dividend (≈10.8% yield) and preserving just under $100 million of cash/liquidity as it evaluates a roughly $2 billion pipeline (including a large multifamily opportunity in May); the company today carries ~ $287 million of equity, a $236 million post‑2024 CRE portfolio, and book value of $236.2 million ($30.83/share); Q1 GAAP income was a loss of $3.2 million (−$0.42/diluted) and earnings available for distribution were −$0.3 million (−$0.04/diluted); management noted G&A has been reduced from ~$65 million to ~$30 million, deployed $50 million into the Paramount deal closed Dec‑2025, sold down some floating‑rate AAA CMBS (yielding ~10%) to create liquidity, and is assessing redeployment into higher‑yielding debt or securitizations (targeting ~15–20% returns), potential M&A, accretive capital raises or modest buybacks, while unsecured debt currently costs roughly 7–9%.Rithm Property Trust Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
41
Neutral
Cash Flow
28
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 52.80M | 47.22M | -16.86M | 217.66M | 75.76M |
| Gross Profit | 44.58M | -61.07M | -16.86M | 150.95M | 68.33M |
| EBITDA | 38.92M | -44.43M | 0.00 | 116.94M | 0.00 |
| Net Income | 1.47M | -91.83M | -47.07M | -15.01M | 41.85M |
Balance Sheet | |||||
| Total Assets | 1.04B | 977.34M | 1.34B | 1.95B | 1.76B |
| Cash, Cash Equivalents and Short-Term Investments | 79.32M | 64.25M | 184.39M | 5.41M | 84.43M |
| Total Debt | 741.82M | 722.57M | 621.57M | 907.38M | 678.41M |
| Total Liabilities | 750.43M | 730.57M | 1.03B | 967.79M | 1.26B |
| Stockholders Equity | 291.55M | 246.92M | 308.93M | 960.51M | 497.30M |
Cash Flow | |||||
| Free Cash Flow | -4.50M | 290.00K | -46.46M | 68.27M | 64.72M |
| Operating Cash Flow | -4.50M | 290.00K | -46.46M | 1.14M | 92.86M |
| Investing Cash Flow | -37.06M | 297.27M | 172.82M | -63.73M | -167.13M |
| Financing Cash Flow | 57.43M | -286.15M | -121.37M | -42.10M | -123.18M |
Rithm Property Trust Technical Analysis
Neutral
14.44
Price Trends
14.23
Positive
15.05
Negative
14.87
Negative
Market Momentum
0.06
Negative
59.13
Neutral
89.90
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RPT, the sentiment is Neutral. The current price of 14.44 is above the 20-day moving average (MA) of 13.77, above the 50-day MA of 14.23, and below the 200-day MA of 14.87, indicating a neutral trend. The MACD of 0.06 indicates Negative momentum. The RSI at 59.13 is Neutral, neither overbought nor oversold. The STOCH value of 89.90 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for RPT.
Rithm Property Trust Risk Analysis
Rithm Property Trust disclosed 54 risk factors in its most recent earnings report. Rithm Property Trust reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
The Exchange Ratio is fixed and will not be adjusted in the event of any change in the stock prices of either Kimco or RPT. Q3, 2023
2.
The market price of Kimco common stock may decline as a result of the Mergers. Q3, 2023
3.
The market price and trading volume of the Kimco common stock after the Mergers may be volatile. Q3, 2023
Rithm Property Trust Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $186.42M | 10.50 | 5.14% | 13.82% | -7.31% | -22.36% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
58 Neutral | $155.24M | 7.74 | 4.99% | ― | -10.95% | 106.91% | |
55 Neutral | $96.26M | 3.02 | 2.95% | 21.65% | -11.85% | -312.59% | |
46 Neutral | $113.79M | -12.84 | 0.99% | 9.13% | 20.77% | 90.54% | |
46 Neutral | $60.78M | -2.38 | -1.20% | 23.03% | -35.24% | -141.71% | |
45 Neutral | $67.06M | -1.19 | -7.12% | 7.97% | -25.60% | 73.25% |
* Real Estate Sector Average
RPT
Rithm Property Trust
14.64
-0.88
-5.68%
ACR
ACRES Commercial Realty
21.77
2.98
15.86%
SEVN
Seven Hills Realty Trust
8.25
-1.97
-19.27%
LFT
Lument Finance Trust
1.16
-1.23
-51.51%
CHMI
Cherry Hill Mortgage
2.62
0.10
3.76%
GPMT
Granite Point Mortgage
1.41
-0.33
-18.92%
Rithm Property Trust Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Rithm Property Trust Halts Planned Equity Raise Amid Conditions
Negative
Feb 5, 2026
In February 2026, Rithm Property Trust Inc. decided against proceeding with a significant common equity raise that had been under consideration to finance the acquisition of commercial mortgage assets, citing prevailing market conditions. The comp...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.