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Stock impact report

Compass Point Initiates Coverage on Rithm Property Trust (RPT) with Buy Rating [Yahoo! Finance]

RPT Realty (RPT) 
Last rpt realty earnings: 2/19 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investors.rgpt.com
Company Research Source: Yahoo! Finance
On January 7, Compass Point began coverage of Rithm Property Trust Inc. (NYSE:RPT) with a Buy rating and set a $24 price target. During the company's third-quarter earnings call, CEO Michael Nierenberg reflected on where the business stood when the current management team took control last June. At that time, the company was losing roughly $10 million per quarter. Since then, operations have been stabilized, earnings have moved closer to breakeven, and the company has continued to support a $0.06 dividend. He pointed to the exit from residential assets and a shift toward commercial real estate floating-rate loans, which sit higher in the capital stack and offer more attractive yields. Nierenberg laid out several strategic paths management could pursue. Those include recapitalizing the business by raising equity tied to specific asset pools, exploring a broader liquidation, or simply staying the course and continuing to execute on the current plan. He also highlighted the disconne Show less Read more
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