Rithm Property Trust Swings to $0.17 EPS, Crushing -$0.15 Estimate
RPT sits 16% above its 52-week low of $9.8.
Summary
Rithm Property Trust posted Q3 adjusted EPS of $0.17 versus a consensus loss of $0.15 — a wide beat against a range of -$0.19 to -$0.12. Revenue jumped 51.8% to $6.06M, well above the $4.83M analysts expected, and net income came in at $3.11M. This follows the 8-K filed earlier today reporting $1.3M in comprehensive income ($0.17/share) and distributable earnings, and extends the turnaround from Q2's $2.0M net income after Q1's loss. The stock is still down 33.6% year to date, so the beat lands against a beaten-down base. Note the $24 median price target sits far above the $10.89 last close, but that gap reflects analyst models, not fresh guidance.
At the time of this announcement, RPT was trading at $11.41 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $84.6M. The 52-week trading range was $9.80 to $17.94. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.