NYSE: RPT
Rithm Property Trust Inc.CIK 0001614806 · SIC 6798 · Real Estate Investment Trusts
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RPT: net income $2.0M. RPT acquires RTL portfolio, abandons two equity raises on unfavorable pricing
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Rithm Property Trust terminates proposed stock offering, citing unfavorable market conditions
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Rithm Property Trust offers $300M of common stock at $14.19/share to fund Genesis loan purchase
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Rithm Property Trust launches equity offering to fund $951M multifamily loan buy from manager affiliate
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Rithm Property Trust shareholders reject executive pay, approve new equity plan
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Rithm Property Trust buys multifamily loans from parent affiliate, establishes flow agreement
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net income -$2.0M. Rithm Property Trust sells CMBS amid Iran conflict, rising rates; net interest income falls
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Rithm Property Trust reports Q1 2026 earnings via press release
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Latest financial statements
From 10-Q filed Jul 31, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations (Unaudited)
(dollars in thousands, except share and per share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Net Interest Income | ||||
| Interest income | 12,335 | 13,636 | 24,871 | 26,836 |
| Interest expense | (8,279) | (9,423) | (17,187) | (18,809) |
| Net interest income | 4,056 | 4,213 | 7,684 | 8,027 |
| Expenses | ||||
| Related party loan servicing fee | 557 | 493 | 1,023 | 1,003 |
| Related party management fee | 1,614 | 1,603 | 3,218 | 3,047 |
| Professional fees | 1,219 | 854 | 2,900 | 1,749 |
| General and administrative | 1,037 | 1,011 | 2,132 | 1,915 |
| Total expense | 4,427 | 3,961 | 9,273 | 7,714 |
| Other Income (Loss) | ||||
| Realized and unrealized gains (losses), net | 2,959 | 564 | 2,836 | (3,880) |
| Other income (loss), net | (563) | 1,109 | (1,216) | 1,965 |
| Total other income (loss), net | 2,396 | 1,673 | 1,620 | (1,915) |
| Income (Loss) Before Income Taxes | 2,025 | 1,925 | 31 | (1,602) |
| Income tax expense (benefit) | 20 | 26 | 15 | (109) |
| Net Income (Loss) | 2,005 | 1,899 | 16 | (1,493) |
| Net income attributable to the noncontrolling interests | — | 1 | 1 | 4 |
| Net Income (Loss) Attributable to Rithm Property Trust Inc. | 2,005 | 1,898 | 15 | (1,497) |
| Dividends on preferred stock | 1,290 | 1,286 | 2,580 | 1,636 |
| Net Income (Loss) Attributable to Common Stockholders | 715 | 612 | (2,565) | (3,133) |
| Net Income (Loss) per Share of Common Stock | ||||
| Basic | 0.09 | 0.08 | (0.33) | (0.41) |
| Diluted | 0.09 | 0.08 | (0.33) | (0.41) |
| Weighted Average Number of Shares of Common Stock Outstanding(1) | ||||
| Basic | 7,745,779 | 7,569,792 | 7,684,474 | 7,569,484 |
| Diluted | 7,745,779 | 7,570,061 | 7,684,474 | 7,569,484 |
Consolidated Balance Sheets
(dollars in thousands, except share and per share data)
| Description | June 30, 2026 (Unaudited) | December 31, 2025 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | 66,703 | 79,321 |
| Restricted cash | 411 | 811 |
| Residential mortgage loans held-for-investment, net(1) | 348,147 | 362,829 |
| Residential mortgage loans held-for-sale, net | 16,072 | 29,419 |
| Residential transition loans, at fair value(5) | 117,730 | — |
| Commercial mortgage-backed securities, at fair value(2) | 84,365 | 273,783 |
| Residential mortgage-backed securities(3) | 189,837 | 189,947 |
| Commercial real estate equity method investments(4) | 79,466 | 79,168 |
| Other assets | 26,013 | 26,249 |
| Total Assets | 928,744 | 1,041,527 |
| Liabilities and Equity | ||
| Liabilities | ||
| Secured bonds payable, net(1) | 212,249 | 226,243 |
| Repurchase financing agreements(6) | 311,341 | 407,072 |
| Unsecured notes, net | 108,938 | 108,507 |
| Accrued expenses and other liabilities | 11,371 | 8,608 |
| Total Liabilities | 643,899 | 750,430 |
| Commitments and Contingencies – see Note 9 | ||
| Stockholders’ Equity | ||
| Preferred stock, $0.01 par value, 25,000,000 shares authorized, 2,084,232 shares issued and outstanding, $52,106 aggregate liquidation preference | 50,785 | 50,785 |
| Common stock $0.01 par value, 125,000,000 shares authorized, 8,049,957 and 7,848,703 shares issued and 7,772,564 and 7,571,699 shares outstanding, respectively | 78 | 76 |
| Additional paid-in capital | 430,298 | 425,703 |
| Treasury stock | (11,596) | (11,596) |
| Accumulated deficit | (182,654) | (171,768) |
| Accumulated other comprehensive loss | (1,611) | (1,647) |
| Stockholders’ Equity in Rithm Property Trust Inc. | 285,300 | 291,553 |
| Noncontrolling interests | (455) | (456) |
| Total Stockholders’ Equity | 284,845 | 291,097 |
| Total Liabilities and Equity | 928,744 | 1,041,527 |
Consolidated Statements of Cash Flows (Unaudited)
(dollars in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash Flows from Operating Activities | ||
| Net income (loss) | 16 | (1,493) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Stock-based management termination fee and compensation expense | — | 13 |
| Mark-to-market on residential mortgage loans held-for-sale, net | 326 | (3,488) |
| Mark-to-market adjustment on securities carried at fair value | 105 | 4,771 |
| Mark-to-market adjustment on RTLs, at fair value | (142) | — |
| Mark-to-market adjustment on CRE equity method investments, at fair value | (1,391) | — |
| Discount accretion on mortgage loans | (334) | (471) |
| Interest and discount accretion on investment in debt securities | (527) | (569) |
| Discount accretion on investments in beneficial interests | (4,193) | (3,084) |
| Gain on sale of residential mortgage loans | (211) | (100) |
| Gain on sale of real estate owned properties | (25) | (355) |
| Loss on sale of securities | 152 | 3,037 |
| Impairment of real estate owned | 154 | 171 |
| Amortization of debt discount and prepaid financing costs | 681 | 775 |
| Undistributed gain from investment in affiliates | (379) | (550) |
| Net change in operating assets and liabilities: | ||
| Other assets | 147 | 1,913 |
| Accrued expenses and other liabilities | 1,655 | (2,200) |
| Net cash used in operating activities | (3,966) | (1,630) |
| Cash Flows from Investing Activities | ||
| Principal paydowns on mortgage loans | 15,944 | 19,371 |
| Proceeds from sale of mortgage loans | 11,994 | 1,758 |
| Purchase of CMBS, at fair value | — | (49,075) |
| Purchase of RTLs, at fair value | (102,988) | — |
| Principal and interest collection on mortgage-backed securities | 34,678 | 25,121 |
| Proceeds from sales of RMBS AFS | — | 14,341 |
| Proceeds from sales of CMBS | 159,403 | — |
| Draws on RTLs | (12,715) | — |
| Paydown on other investments | — | 5,527 |
| Proceeds from sale of real estate owned, held-for-sale | 177 | 1,164 |
| Investment in equity investments | — | (17,500) |
| Distribution from affiliates | 2,758 | 999 |
| Net cash provided by investing activities | 109,251 | 1,706 |
| Cash Flows from Financing Activities | ||
| Proceeds from issuance of preferred stock | — | 50,785 |
| Net change in repurchase financing agreements | (95,731) | 5,937 |
| Repayments on secured bonds payable | (14,244) | (16,934) |
| Repurchase of common stock | (224) | — |
| Dividends paid on common stock and preferred stock | (8,104) | (5,487) |
| Net cash provided by (used in) financing activities | (118,303) | 34,301 |
| Net Change in Cash and Cash Equivalents and Restricted Cash | (13,018) | 34,377 |
| Cash and Cash Equivalents and Restricted Cash, Beginning of Period | 80,132 | 64,252 |
| Cash and Cash Equivalents and Restricted Cash, End of Period | 67,114 | 98,629 |
| Supplemental Disclosure of Cash Flow Information: | ||
| Cash paid for interest | 16,288 | 18,142 |
| Supplemental Disclosure of Noncash Investing and Financing Activities: | ||
| Common stock settled for management fee and compensation expense | 4,821 | — |
| Net transfer of loans to real estate owned | 830 | 92 |
| Reclassification of unrealized loss to earnings on debt securities AFS transferred to held-to-maturity | 281 | 575 |
| Unrealized gain (loss) on AFS securities | (245) | 5,064 |
| Reconciliation of cash and cash equivalents and restricted cash: | ||
| Cash and cash equivalents | 66,703 | 98,629 |
| Restricted cash | 411 | — |
| Total Cash and Cash Equivalents and Restricted Cash | 67,114 | 98,629 |
Amounts as printed on the EDGAR/iXBRL face — (dollars in thousands, except share and per share data); (dollars in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗