Tearsheet

Rithm Property Trust (RPT)

Market Price (5/10/2026): $14.92 | Market Cap: $113.7 Mil
Sector: Financials | Industry: Mortgage REITs

Rithm Property Trust (RPT)

Market Price (5/10/2026): $14.92
Market Cap: $113.7 Mil
Sector: Financials
Industry: Mortgage REITs

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 246%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -32%

Low stock price volatility
Vol 12M is 30%

Megatrend and thematic drivers
Megatrends include Sustainable & Green Buildings, Smart Buildings & Proptech, and Experience Economy & Premiumization. Themes include ESG REITs, Show more.

Weak multi-year price returns
2Y Excs Rtn is -64%, 3Y Excs Rtn is -126%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 160%

Expensive valuation multiples
P/SPrice/Sales ratio is 11x, P/EPrice/Earnings or Price/(Net Income) is 40x

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -97%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -97%

Significant short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 24.19

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 246%
1	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -32%
2	Low stock price volatility Vol 12M is 30%
3	Megatrend and thematic drivers Megatrends include Sustainable & Green Buildings, Smart Buildings & Proptech, and Experience Economy & Premiumization. Themes include ESG REITs, Show more.
4	Weak multi-year price returns 2Y Excs Rtn is -64%, 3Y Excs Rtn is -126%
5	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 160%
6	Expensive valuation multiples P/SPrice/Sales ratio is 11x, P/EPrice/Earnings or Price/(Net Income) is 40x
7	Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -97%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -97%
8	Significant short interest Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 24.19

Valuation, Metrics & Events

	5/10/26	2025	2024	2023	2022
Share Price CYE	$14.92	$16.58	$17.82	$31.80	$43.50
Market Cap CYE ($ Mil)	113.7	125.5	134.6	142.9	165.1
Total Debt ($ Mil)	327.9	334.8	366.0	621.6	677.5
Total Cash ($ Mil)	145.0	128.5	126.5	184.4	304.9
Enterprise Value ($ Mil)	296.7	460.3	500.6	764.5	842.6
Valuation Ratios
P/S TTM	11.5	16.8	-	-	-
P/EBIT TTM	-	-	-	-	-
P/E TTM	39.5	85.3	-1.5	-3.0	-11.0
P/FCF TTM	-11.8	-15.1	464.3	-3.1	145.5
Sector Ratios
P/S TTM (Sector)	3.2	3.1	3.1	2.7	2.7
P/EBIT TTM (Sector)	6.6	7.4	7.9	7.1	7.6
P/E TTM (Sector)	11.4	11.0	11.4	9.6	9.4
P/FCF TTM (Sector)	8.2	8.7	8.7	7.6	6.4

	5/10/26	2025	2024
Share Price CYE	$14.92	$16.58	$17.82
Market Cap CYE ($ Mil)	113.7	125.5	134.6
Total Debt ($ Mil)	327.9	334.8	366.0
Total Cash ($ Mil)	145.0	128.5	126.5
Enterprise Value ($ Mil)	296.7	460.3	500.6
Valuation Ratios
P/S TTM	11.5	16.8	-
P/EBIT TTM	-	-	-
P/E TTM	39.5	85.3	-1.5
P/FCF TTM	-11.8	-15.1	464.3
Sector Ratios
P/S TTM (Sector)	3.2	3.1	3.1
P/EBIT TTM (Sector)	6.6	7.4	7.9
P/E TTM (Sector)	11.4	11.0	11.4
P/FCF TTM (Sector)	8.2	8.7	8.7

	RPT	S&P 500
REVENUE GROWTH	GOOD
Rev LTM ($ Bil)	0.0
Rev Chg Q	137.0%	8.6%
Rev Chg LTM	245.9%	7.3%
Rev Chg 3Y Avg	3.3%	5.8%
PROFITABILITY	GOOD
Op Inc LTM ($ Bil)	�
CFO LTM ($ Bil)	-0.0
Net Inc LTM ($ Bil)	0.0
CFO/Rev LTM	-97.3%	21.0%
Net Inc Mgn	29.0%	12.9%
VALUATION	VERY HIGH
P/S	11.5	3.2
P/CFO	-11.8	15.0
P/FCF	-11.8	19.5
P/E	39.5	23.7

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Metric	Value	Date	Source
Book Value per Common Share	$5.30	9302025	Link
Active Investment Pipeline	$2bn+	10312025	Link
Existing Portfolio Unpaid Principal Balance (UPB)	$274mm	9302025	Link
Recent Loan Origination	$21 million	1122025	Link
Portfolio Composition	Commercial Mortgage-Backed Securities and Senior Loans	9302025	Link

Recent
4/24/2026	Earnings Release	Rev: $2.0 Mil (A) vs. $6.0 Mil (E) EPS: -0.04 (A) vs. $-0.06 (E)
Upcoming
5/15/2026	Dividend	Amount: $0.36 Payment On: 5/29/2026
7/23/2026	Earnings Release	Rev: $6.0 Mil (E) EPS: $-0.04 (E)

Price Chart

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Rithm Property Trust (RPT) stock has lost about 10% since 1/31/2026 because of the following key factors:

1. Rithm Property Trust reported persistent negative Earnings Available for Distribution (EAD) for both the fourth quarter of 2025 and the first quarter of 2026. In Q4 2025, EAD was $(0.06) per diluted common share, followed by $(0.04) per diluted common share in Q1 2026. Despite these negative distributable earnings, the company maintained a common dividend of $0.36 per share in both quarters, raising concerns about dividend coverage and sustainability.

2. The company experienced a GAAP comprehensive loss in the first quarter of 2026. Rithm Property Trust announced a GAAP comprehensive loss of $(3.2) million, or $(0.42) per diluted common share, for the quarter ended March 31, 2026. This marked a deterioration from the GAAP comprehensive income of $2.5 million, or $0.33 per diluted common share, reported for the fourth quarter of 2025.

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Stock Movement Drivers

Fundamental Drivers

The -9.2% change in RPT stock from 1/31/2026 to 5/9/2026 was primarily driven by a -63.7% change in the company's P/E Multiple.

(LTM values as of)	1312026	5092026	Change
Stock Price ($)	16.47	14.96	-9.2%
Change Contribution By:
Total Revenues ($ Mil)	9	10	5.7%
Net Income Margin (%)	12.2%	29.0%	138.1%
P/E Multiple	109.1	39.6	-63.7%
Shares Outstanding (Mil)	8	8	-0.7%
Cumulative Contribution			-9.2%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 5/9/2026

	Return	Correlation
RPT	-9.2%
Market (SPY)	3.6%	35.7%
Sector (XLF)	-3.6%	45.1%

Fundamental Drivers

The -2.3% change in RPT stock from 10/31/2025 to 5/9/2026 was primarily driven by a -35.9% change in the company's P/S Multiple.

(LTM values as of)	10312025	5092026	Change
Stock Price ($)	15.31	14.96	-2.3%
Change Contribution By:
Total Revenues ($ Mil)	6	10	53.5%
P/S Multiple	17.9	11.5	-35.9%
Shares Outstanding (Mil)	8	8	-0.7%
Cumulative Contribution			-2.3%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 5/9/2026

	Return	Correlation
RPT	-2.3%
Market (SPY)	5.5%	14.5%
Sector (XLF)	-1.3%	31.1%

Fundamental Drivers

The -6.6% change in RPT stock from 4/30/2025 to 5/9/2026 was primarily driven by a -773.0% change in the company's P/S Multiple.

(LTM values as of)	4302025	5092026	Change
Stock Price ($)	16.02	14.96	-6.6%
Change Contribution By:
Total Revenues ($ Mil)	-71	10	-114.0%
P/S Multiple	-1.7	11.5	-773.0%
Shares Outstanding (Mil)	8	8	-0.9%
Cumulative Contribution			-6.6%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2025 to 5/9/2026

	Return	Correlation
RPT	-6.6%
Market (SPY)	30.4%	27.5%
Sector (XLF)	6.7%	34.2%

Fundamental Drivers

The -50.0% change in RPT stock from 4/30/2023 to 5/9/2026 was primarily driven by a -254.0% change in the company's Total Revenues ($ Mil).

(LTM values as of)	4302023	5092026	Change
Stock Price ($)	29.92	14.96	-50.0%
Change Contribution By:
Total Revenues ($ Mil)	-6	10	-254.0%
P/S Multiple	-17.6	11.5	-165.2%
Shares Outstanding (Mil)	4	8	-50.2%
Cumulative Contribution			-50.0%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2023 to 5/9/2026

	Return	Correlation
RPT	-50.0%
Market (SPY)	78.7%	33.0%
Sector (XLF)	62.1%	32.9%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
RPT Return	34%	-38%	-17%	-39%	2%	-7%	-61%
Peers Return	21%	-21%	18%	2%	13%	5%	35%
S&P 500 Return	27%	-19%	24%	23%	16%	7%	95%
Monthly Win Rates [3]
RPT Win Rate	58%	33%	50%	25%	58%	60%
Peers Win Rate	58%	50%	52%	60%	60%	52%
S&P 500 Win Rate	75%	42%	67%	75%	67%	60%
Max Drawdowns [4]
RPT Max Drawdown	-6%	-39%	-37%	-43%	-17%	-19%
Peers Max Drawdown	-4%	-34%	-19%	-12%	-11%	-6%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-7%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: NLY, AGNC, STWD, BXMT, ABR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/8/2026 (YTD)

Event	RPT	S&P 500
2025 US Tariff Shock
% Loss	-24.5%	-18.8%
% Gain to Breakeven	32.4%	23.1%
Time to Breakeven	253 days	79 days
2020 COVID-19 Crash
% Loss	-71.2%	-33.7%
% Gain to Breakeven	246.8%	50.9%
Time to Breakeven	448 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-11.7%	-19.2%
% Gain to Breakeven	13.3%	23.7%
Time to Breakeven	42 days	105 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-30.8%	-12.2%
% Gain to Breakeven	44.6%	13.9%
Time to Breakeven	44 days	62 days
2014-2016 Oil Price Collapse
% Loss	-23.7%	-6.8%
% Gain to Breakeven	31.1%	7.3%
Time to Breakeven	65 days	15 days

Compare to NLY, AGNC, STWD, BXMT, ABR

In The Past

Rithm Property Trust's stock fell -24.5% during the 2025 US Tariff Shock. Such a loss loss requires a 32.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	RPT	S&P 500
2025 US Tariff Shock
% Loss	-24.5%	-18.8%
% Gain to Breakeven	32.4%	23.1%
Time to Breakeven	253 days	79 days
2020 COVID-19 Crash
% Loss	-71.2%	-33.7%
% Gain to Breakeven	246.8%	50.9%
Time to Breakeven	448 days	140 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-30.8%	-12.2%
% Gain to Breakeven	44.6%	13.9%
Time to Breakeven	44 days	62 days
2014-2016 Oil Price Collapse
% Loss	-23.7%	-6.8%
% Gain to Breakeven	31.1%	7.3%
Time to Breakeven	65 days	15 days

Compare to NLY, AGNC, STWD, BXMT, ABR

In The Past

Rithm Property Trust's stock fell -24.5% during the 2025 US Tariff Shock. Such a loss loss requires a 32.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Rithm Property Trust (RPT)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

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 surrounding communities and meet the modern expectations of the Company's retail partners. The Company is a fully integrated and self-administered REIT publicly traded on the New York Stock Exchange (the NYSE). The common shares of the Company, par value $0.01 per share (the common shares) are listed and traded on the NYSE under the ticker symbol RPT. As of June 30, 2020, our property portfolio consisted of 49 shopping centers (including five shopping centers owned through a joint venture) representing 11.9 million square feet of gross leasable area. As of June 30, 2020, the Company's pro-rata share of the aggregate portfolio was 93.6% leased.

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RPT is a smaller Kimco Realty.
Think of RPT as a scaled-down Regency Centers.

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Retail Property Leasing: RPT Realty provides leased retail space within its portfolio of open-air shopping centers to various retail partners.

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Rithm Property Trust (RPT) is a Real Estate Investment Trust (REIT) that owns and operates open-air shopping destinations. Therefore, its primary customers are other companies, specifically the retail businesses that lease space in its shopping centers. The provided background information does not list the names of specific major customer companies (tenants).

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The ongoing expansion and sophistication of e-commerce, including direct-to-consumer models and advanced logistics, continues to erode the necessity and market share of traditional brick-and-mortar retail, posing a persistent and evolving threat to the demand for physical shopping center space.

AI Analysis | Feedback

The addressable market for Rithm Property Trust (RPT), which owns and operates open-air shopping destinations, is the U.S. shopping centers market.

The global shopping centers market was valued at approximately USD 6.22 trillion in 2025 and is projected to grow to USD 6.65 trillion in 2026. North America was identified as the largest region in the shopping centers market in 2025 and accounted for over 46% of the global market revenue share in 2021.

Based on these figures, the estimated market size for shopping centers in North America, which encompasses RPT's primary operational region of the U.S., would be approximately USD 3.11 trillion in 2025 (46.8% of USD 6.65 trillion). There are 116,214 shopping centers in the U.S.. Open-air shopping centers, RPT's focus, account for 34.3% of the total U.S. retail gross leasable area and represented 41.7% of consumer expenditure on goods and services in the first quarter of 2023. This segment has shown resilience with historically low vacancy rates and strong fundamentals for rent growth.

AI Analysis | Feedback

Here are the expected drivers of future revenue growth for Rithm Property Trust (symbol: RPT) over the next 2-3 years:

Recapitalization and New Capital Formation: Rithm Property Trust is focused on a recapitalization plan and raising new capital, which management anticipates will be a significant driver for achieving future annual earnings per share targets between $1.00 and $1.70. This initiative is central to the company's strategic repositioning and growth.
Growth in Multifamily Loan Production and Deployment of Identified Assets: The company's Genesis business is projected to achieve $6 billion to $7 billion in multifamily loan production in 2025. Additionally, there is an identified pipeline of approximately $1 billion in multifamily assets that, upon placement into the vehicle and board approval, are expected to lead to an immediate increase in earnings. Rithm Property Trust is also working towards acquiring licenses to operate as a Fannie Mae or Freddie Mac multifamily servicer or originator, further bolstering this area.
Opportunistic Investments in Commercial Real Estate: Rithm Property Trust is undergoing a strategic repositioning to focus on commercial real estate and opportunistic investments. The company aims to leverage its diversified earning streams and strong sourcing capabilities to identify and capitalize on these investment opportunities.
Development of a Direct Lending Business: The company is establishing a direct lending business in collaboration with its Genesis partners. This platform is expected to serve as a vital avenue for Rithm Property Trust's future growth.

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Share Issuance

RPT Realty had $54.3 million of common stock available for issuance under an Equity Distribution Agreement in 2021.
In early 2022, the company issued debt and equity to manage its balance sheet when the cost of capital was low.

Inbound Investments

RPT Realty formed a joint venture with Singapore sovereign wealth fund GIC in December 2019, with GIC committing over $300 million to invest in open-air shopping centers in the U.S., including acquiring a minority stake in five RPT-owned retail assets and committing up to $200 million of additional capital for future investments.
In an all-stock transaction valued at approximately $2 billion, including the assumption of debt and preferred stock, Kimco Realty acquired RPT Realty, with the merger closing on January 2, 2024.

Outbound Investments

In 2021, RPT Realty closed on $791 million of investment activity, which included 11 multi-tenant acquisitions with a contract value of $540.9 million, aimed at improving portfolio quality by increasing exposure to high-growth markets.
Through its RGMZ platform in 2021, RPT Realty acquired $191.0 million of single-tenant net lease assets, with $186.3 million of these parceled from existing RPT multi-tenant shopping centers.
RPT Realty acquired Mary Brickell Village, a large grocery-anchored mixed-use property in Miami, for $216 million in the fall of 2022.

Interactive Breakdown

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Better Bets vs. Rithm Property Trust (RPT)

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Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	Rithm Property Trust Stock Jump Looks Great, But How Secure Is That Gain?	10/17/2025

	Title
0	ARTICLES

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EEFT_4302026_Dip_Buyer_ValueBuy	04302026	EEFT	Euronet Worldwide	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	0.0%	0.0%	0.0%
HOMB_4242026_Insider_Buying_GTE_1Mil_EBITp+DE_V2	04242026	HOMB	Home BancShares	Insider	Insider Buys \| Low D/EStrong Insider Buying Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	1.5%	1.5%	0.0%
HBAN_3312026_Insider_Buying_45D_2Buy_200K	03312026	HBAN	Huntington Bancshares	Insider	Insider Buys 45DStrong Insider Buying Companies with multiple insider buys in the last 45 days	7.1%	7.1%	0.0%
NP_3312026_Insider_Buying_45D_2Buy_200K	03312026	NP	Neptune Insurance	Insider	Insider Buys 45DStrong Insider Buying Companies with multiple insider buys in the last 45 days	3.9%	3.9%	0.0%
JKHY_3272026_Monopoly_xInd_xCD_Getting_Cheaper	03272026	JKHY	Jack Henry & Associates	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	0.3%	0.3%	-4.0%

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Peer Comparisons

Peers to compare with:

Financials

	RPT	NLY	AGNC	STWD	BXMT	ABR	Median
Name	Rithm Pr.	Annaly C.	AGNC Inv.	Starwood.	Blacksto.	Arbor Re.
Mkt Price	14.96	22.61	10.86	17.75	19.13	7.21	16.36
Mkt Cap	0.1	16.3	12.2	6.5	3.2	1.4	4.9
Rev LTM	10	2,390	1,605	822	585	485	703
Op Inc LTM	-	-	-	-	-	-	-
FCF LTM	-10	-1,581	848	420	345	214	279
FCF 3Y Avg	-14	1,115	327	603	387	373	380
CFO LTM	-10	-552	848	833	345	214	279
CFO 3Y Avg	-14	1,996	327	758	387	373	380

Growth & Margins

	RPT	NLY	AGNC	STWD	BXMT	ABR	Median
Name	Rithm Pr.	Annaly C.	AGNC Inv.	Starwood.	Blacksto.	Arbor Re.
Rev Chg LTM	245.9%	173.2%	174.8%	-2.7%	22.5%	-18.7%	97.8%
Rev Chg 3Y Avg	3.3%	290.4%	127.2%	-9.3%	-2.4%	-9.0%	0.5%
Rev Chg Q	137.0%	85.4%	-246.2%	-4.2%	25.5%	-12.3%	10.6%
QoQ Delta Rev Chg LTM	33.1%	6.8%	-10.7%	-0.9%	5.8%	-3.2%	2.5%
Op Inc Chg LTM	-	-	-	-	-	-	-
Op Inc Chg 3Y Avg	-	-	-	-	-	-	-
Op Mgn LTM	-	-	-	-	-	-	-
Op Mgn 3Y Avg	-	-	-	-	-	-	-
QoQ Delta Op Mgn LTM	-	-	-	-	-	-	-
CFO/Rev LTM	-97.3%	-23.1%	52.8%	101.3%	59.0%	44.0%	48.4%
CFO/Rev 3Y Avg	-	-	27.5%	84.2%	68.8%	60.7%	64.7%
FCF/Rev LTM	-97.3%	-66.2%	52.8%	51.1%	59.0%	44.0%	47.6%
FCF/Rev 3Y Avg	-	-	27.5%	65.6%	68.8%	60.7%	63.1%

Valuation

	RPT	NLY	AGNC	STWD	BXMT	ABR	Median
Name	Rithm Pr.	Annaly C.	AGNC Inv.	Starwood.	Blacksto.	Arbor Re.
Mkt Cap	0.1	16.3	12.2	6.5	3.2	1.4	4.9
P/S	11.5	6.8	7.6	7.9	5.5	2.9	7.2
P/Op Inc	-	-	-	-	-	-	-
P/EBIT	-	-	-	-	-	-	-
P/E	39.6	7.5	8.3	18.5	31.2	11.8	15.1
P/CFO	-11.8	-29.6	14.4	7.8	9.4	6.6	7.2
Total Yield	2.5%	13.4%	12.1%	15.9%	13.1%	29.5%	13.2%
Dividend Yield	0.0%	0.0%	0.0%	10.5%	9.9%	21.0%	5.0%
FCF Yield 3Y Avg	-12.2%	12.8%	2.9%	9.3%	11.4%	17.4%	10.4%
D/E	2.9	2.1	0.0	2.0	4.9	4.9	2.5
Net D/E	1.6	2.1	-0.0	2.0	4.7	4.6	2.0

Returns

	RPT	NLY	AGNC	STWD	BXMT	ABR	Median
Name	Rithm Pr.	Annaly C.	AGNC Inv.	Starwood.	Blacksto.	Arbor Re.
1M Rtn	5.1%	2.3%	4.8%	0.1%	-1.9%	-4.2%	1.2%
3M Rtn	-4.3%	2.3%	-1.8%	0.7%	-0.0%	-4.2%	-0.9%
6M Rtn	7.4%	10.1%	12.3%	1.7%	9.2%	-16.3%	8.3%
12M Rtn	-2.6%	34.6%	42.4%	2.6%	11.3%	-21.3%	6.9%
3Y Rtn	-40.6%	79.6%	81.3%	46.4%	56.2%	-14.4%	51.3%
1M Excs Rtn	-3.4%	-6.1%	-3.6%	-8.4%	-10.3%	-12.7%	-7.2%
3M Excs Rtn	-11.0%	-4.4%	-8.5%	-6.0%	-6.7%	-10.9%	-7.6%
6M Excs Rtn	-1.9%	2.3%	4.5%	-7.4%	0.2%	-28.1%	-0.9%
12M Excs Rtn	-34.7%	3.9%	12.2%	-27.5%	-18.9%	-53.3%	-23.2%
3Y Excs Rtn	-126.2%	-2.6%	-0.9%	-41.0%	-27.9%	-85.9%	-34.4%

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

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Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2025	2024	2023	2022	2021	2020
Period End	3/31/2026	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Filing Date	5/1/2026	2/18/2026	2/18/2025	2/28/2024	3/3/2023	3/4/2022	3/5/2021
Key Financials
Total Revenue	10	13	-70	-17	-6	31	29
Net Income	3	1	-92	-47	-15	42	28
EPS	-0.29	-0.36	-13.76	-12.06	-7.44	8.88	6.00
Growth Rates
Total Revenue Growth	245.9%	118.2%	-317.9%	-160.2%	-120.5%	10.0%	-38.5%
Net Income Growth	113.5%	101.6%	-95.1%	-213.6%	-135.9%	46.9%	-17.9%
Margins
Net Income Margin	29.0%	11.6%	-	-	-	133.3%	99.9%
Cash & Debt
Total Cash	145	129	126	184	305	84	107
Total Debt	328	335	366	622	678	678	695
Net Debt / (Cash)	183	206	240	437	373	594	588
Cash Flows
Net Cash from Operations	-10	-8	0	-46	1	-18	-14
Free Cash from Operations	-10	-8	0	-46	1	-18	-14
Returns to Shareholders
Dividends	12	11	11	21	30	29	17
Share Repurchases	0	-0	-0	-0	130	0	0

$ Mil \| FY: 12/31	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2
Period End	3/31/2026	12/31/2025	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023
Filing Date	5/1/2026	2/18/2026	11/4/2025	7/31/2025	5/2/2025	2/18/2025	11/1/2024	8/2/2024	5/3/2024	2/28/2024	11/3/2023	8/4/2023
Key Financials Quarterly
Total Revenue	1	3	2	4	-2	5	-1	-9	-66	-9	-1	-2
Net Income	-2	3	-0	2	-3	3	-8	-13	-74	-23	-6	-11
EPS	-0.43	0.26	-0.18	0.06	-0.49	0.36	-1.08	-1.92	-14.46	-5.16	-1.50	-3.06
Key Financials TTM
Total Revenue TTM	10	7	9	6	-7	-71	-85	-86	-78	-17	-13	-19
Net Income TTM	3	1	1	-7	-21	-92	-117	-115	-114	-47	-31	-35
Growth Rates Quarterly
Total Revenue Growth	137.0%	-36.2%	313.9%	140.8%	97.3%	158.6%	20.5%	-366.7%	-1357.4%	-89.0%	84.6%	-47.7%
Net Income Growth	41.4%	11.3%	96.6%	114.9%	95.4%	112.9%	-44.9%	-10.9%	-900.5%	-260.2%	41.4%	-139.4%
Margins Quarterly
Net Income Margin	-298.8%	94.9%	-13.7%	49.3%	-	54.4%	-	-	-	-	-	-
Cash & Debt
Total Cash	145	129	405	423	422	126	251	213	225	184	195	182
Total Debt	328	335	344	350	359	366	374	384	610	622	635	648
Net Debt / (Cash)	183	206	-61	-73	-63	240	124	171	385	437	440	466
Cash Flows Quarterly
FCF from Operations	-3	-1	-6	-0	-2	-2	-5	16	-8	-12	-11	-7
Cash Flows TTM
FCF from Operations TTM	-10	-8	-10	-9	7	0	-9	-15	-38	-46	-37	-25
Returns to Shareholders Quarterly
Dividends	4	3	3	3	3	3	3	2	4	4	5	5
Share Repurchases	0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-1.3%	2.0%	-0.3%	2.0%	-3.5%	1.1%	-6.2%	-9.1%	-38.3%	-11.4%	-2.8%	-5.7%
Return on Invested Capital (ROIC) TTM
ROIC TTM	0.5%	0.2%	-0.0%	-2.0%	-5.8%	-14.7%	-22.7%	-20.4%	-14.8%	-5.9%	-3.9%	-4.0%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Acquiring, investing in and managing a portfolio of residential whole mortgage loans, commercial		-17	-6	31	29
Total		-17	-6	31	29

Assets by Segment

$ Mil	2025	2024	2023	2022	2021
Residential	631
Commercial	277
Corporate Category	69
Total	977

Price Behavior

Price Behavior

Market Price	$14.96
Market Cap ($ Bil)	0.1
First Trading Date	12/28/1988
Distance from 52W High	-14.5%
	50 Days	200 Days
DMA Price	$14.19	$14.83
DMA Trend	indeterminate	down
Distance from DMA	5.5%	0.9%
	3M	1YR
Volatility	27.1%	29.7%
Downside Capture	0.36	0.42
Upside Capture	35.70	54.54
Correlation (SPY)	31.2%	26.0%

RPT Betas & Captures as of 4/30/2026

	1M	2M	3M	6M	1Y	3Y
Beta	0.19	0.61	0.67	0.37	0.65	0.91
Up Beta	0.08	0.05	0.51	0.20	0.78	0.98
Down Beta	2.82	0.87	0.58	0.38	0.31	0.65
Up Capture	47%	63%	41%	37%	40%	45%
Bmk +ve Days	15	22	31	66	141	428
Stock +ve Days	12	20	27	58	107	325
Down Capture	5%	96%	112%	49%	97%	106%
Bmk -ve Days	4	18	30	56	108	321
Stock -ve Days	9	22	36	63	124	373

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with RPT
RPT	-3.3%	29.6%	-0.11	-
Sector ETF (XLF)	5.2%	14.6%	0.13	33.1%
Equity (SPY)	29.0%	12.5%	1.83	26.6%
Gold (GLD)	39.8%	27.0%	1.22	-2.0%
Commodities (DBC)	50.6%	18.0%	2.21	-9.7%
Real Estate (VNQ)	13.0%	13.5%	0.66	30.3%
Bitcoin (BTCUSD)	-17.4%	42.1%	-0.34	19.3%

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Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with RPT
RPT	-20.0%	38.0%	-0.48	-
Sector ETF (XLF)	8.9%	18.6%	0.36	39.1%
Equity (SPY)	12.8%	17.1%	0.59	37.7%
Gold (GLD)	20.9%	17.9%	0.95	7.8%
Commodities (DBC)	13.8%	19.1%	0.59	7.5%
Real Estate (VNQ)	3.4%	18.8%	0.08	39.4%
Bitcoin (BTCUSD)	7.0%	56.0%	0.34	9.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with RPT
RPT	-7.3%	42.9%	-0.01	-
Sector ETF (XLF)	12.6%	22.2%	0.52	39.1%
Equity (SPY)	15.1%	17.9%	0.72	34.9%
Gold (GLD)	13.4%	15.9%	0.69	2.9%
Commodities (DBC)	9.3%	17.8%	0.44	14.4%
Real Estate (VNQ)	5.8%	20.7%	0.24	41.0%
Bitcoin (BTCUSD)	67.8%	66.9%	1.07	10.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	4152026
Short Interest: Shares Quantity	0.5 Mil
Short Interest: % Change Since 3312026	1.2%
Average Daily Volume	0.0 Mil
Days-to-Cover Short Interest	24.2 days
Basic Shares Quantity	7.6 Mil
Short % of Basic Shares	6.3%

Returns Analyses

	Title
0	Rithm Property Trust Stock Jump Looks Great, But How Secure Is That Gain?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
2/13/2026	-1.8%	-1.5%	-7.9%
10/31/2025	8.1%	-2.4%	7.8%
7/24/2025	0.0%	-2.6%	-0.4%
4/28/2025	0.0%	3.2%	-2.1%
1/30/2025	7.7%	9.8%	17.6%
10/21/2024	0.0%	0.0%	-5.6%
7/24/2024	-9.4%	-12.7%	-11.0%
2/27/2024	-4.7%	-6.5%	-13.2%
...
SUMMARY STATS
# Positive	12	11	9
# Negative	7	8	10
Median Positive	3.3%	3.3%	7.8%
Median Negative	-4.7%	-2.5%	-8.1%
Max Positive	8.1%	16.7%	33.6%
Max Negative	-9.4%	-14.1%	-17.8%

	Forward Returns
2/13/2026	-1.8%	-1.5%	-7.9%
10/31/2025	8.1%	-2.4%	7.8%
7/24/2025	0.0%	-2.6%	-0.4%
4/28/2025	0.0%	3.2%	-2.1%
1/30/2025	7.7%	9.8%	17.6%
10/21/2024	0.0%	0.0%	-5.6%
7/24/2024	-9.4%	-12.7%	-11.0%
2/27/2024	-4.7%	-6.5%	-13.2%
11/2/2023	3.5%	0.7%	15.0%
8/3/2023	1.5%	1.3%	3.9%
3/2/2023	-7.6%	-14.1%	-17.8%
11/3/2022	-1.0%	3.3%	-3.6%
8/4/2022	-6.3%	-1.9%	-15.1%
3/3/2022	-3.9%	-2.1%	1.3%
11/4/2021	2.2%	0.9%	-8.3%
8/5/2021	5.3%	8.5%	8.0%
3/4/2021	3.8%	9.3%	1.7%
11/5/2020	3.1%	16.7%	33.6%
8/4/2020	7.7%	12.3%	5.9%
SUMMARY STATS
# Positive	12	11	9
# Negative	7	8	10
Median Positive	3.3%	3.3%	7.8%
Median Negative	-4.7%	-2.5%	-8.1%
Max Positive	8.1%	16.7%	33.6%
Max Negative	-9.4%	-14.1%	-17.8%

SEC Filings

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Report Date	Filing Date	Filing
03/31/2026	05/01/2026	10-Q
12/31/2025	02/18/2026	10-K
09/30/2025	11/04/2025	10-Q
06/30/2025	07/31/2025	10-Q
03/31/2025	05/02/2025	10-Q
12/31/2024	02/18/2025	10-K
09/30/2024	11/01/2024	10-Q
06/30/2024	08/02/2024	10-Q
03/31/2024	05/03/2024	10-Q
12/31/2023	02/28/2024	10-K
09/30/2023	11/03/2023	10-Q
06/30/2023	08/04/2023	10-Q
03/31/2023	05/05/2023	10-Q
12/31/2022	03/03/2023	10-K
09/30/2022	11/04/2022	10-Q
06/30/2022	08/05/2022	10-Q

Recent Forward Guidance [BETA]

Latest: Q4 2025 Earnings Reported 2/13/2026

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Prior: Q3 2025 Earnings Reported 10/31/2025

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Insider Activity

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RPT Trade Sentinel

Stock Conviction

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CONVICTION RATIONALE

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STOCK ARCHETYPE

null

Looking for high-conviction positions with a better risk/reward profile? See what's currently in the Trefis High Quality Portfolio.

INVESTMENT THESIS

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Mechanism: null

Supporting Evidence:

PRIMARY RISK

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Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Threshold	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

null

Diversification Alternatives

How Is The Market Pricing RPT?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What RPT Makes & Who Pays

TTM figures based on

RPT Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

Industry Resources

Financials Resources

Federal Reserve Economic Data

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Rithm Property Trust (RPT)

Market Price (5/10/2026): $14.92 | Market Cap: $113.7 MilSector: Financials | Industry: Mortgage REITs

Rithm Property Trust (RPT)

Market Price (5/10/2026): $14.92Market Cap: $113.7 MilSector: FinancialsIndustry: Mortgage REITs

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

About Rithm Property Trust (RPT)

Share Issuance

Inbound Investments

Outbound Investments

Interactive Breakdown

Better Bets vs. Rithm Property Trust (RPT)

Latest Trefis Analyses

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Growth & Margins

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FDIC Bank Data

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Bank Assets

Bank Loans

FDA Approved Drugs Data

Financials

Segment Financials

Price Behavior

Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Recent Forward Guidance [BETA]

Insider Activity

RPT Trade Sentinel

null

CONVICTION RATIONALE

STOCK ARCHETYPE

INVESTMENT THESIS

PRIMARY RISK

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Market Price (5/10/2026): $14.92 | Market Cap: $113.7 Mil
Sector: Financials | Industry: Mortgage REITs

Market Price (5/10/2026): $14.92
Market Cap: $113.7 Mil
Sector: Financials
Industry: Mortgage REITs