Rithm Property Trust drops after beginning $300 mln share offering

Rithm Capital

14/07/2026 12:17

** Mortgage REIT Rithm Property Trust's RPT.N shares down 3.4% at $13.50 before the bell on Tues as it seeks equity raise
** New York City-based RPT late Mon kicked off $300 mln stock offering, per the prospectus filing
** To the extent offering proceeds are less than $300 mln, an affiliate of Rithm Capital RITM.N, RPT's external manager, indicated interest in purchasing $200 mln of shares in a concurrent private placement
** RPT intends to use net proceeds from transactions to acquire a portfolio of multifamily residential transition loans from RITM, and for other investments and general purposes
** Goldman Sachs, RBC, UBS, Wells Fargo, BTIG, KBW and Piper Sandler joint bookrunners
** RPT has ~7.8 mln shares outstanding for roughly $110 mln market cap
** At Mon close, shares down ~16% YTD
** Avg rating of 4 brokerages is "buy"; median PT $24, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))