NEW YORK--(BUSINESS WIRE)--July 28, 2026--
Rithm Property Trust Inc. (NYSE: RPT, "Rithm Property Trust" or the "Company") today announced its financial results for the second quarter ended June 30, 2026.
Financial Highlights:
-- GAAP comprehensive income of $645.0 thousand, or $0.08 per diluted
common share(1)(2)
-- Book value per common share of $30.17(1)
-- Common dividend of $2.8 million, or $0.36 per common share
-- Earnings available for distribution of $(46.0) thousand, or $(0.01) per
diluted common share(1)(3)
Q2 2026 Q1 2026
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Summary of Operating Results:
Comprehensive Income (Loss) per Diluted
Common Share(1)(2) $ 0.08 $ (0.42)
Comprehensive Income (Loss)(2) (in
thousands) $645.0 $(3,174.0)
Non-GAAP Results:
Earnings Available for Distribution per
Diluted Common Share(1)(3) $(0.01) $ (0.04)
Earnings Available for Distribution(3) (in
thousands) $(46.0) $ (307.0)
Common Dividend Paid:
Common Dividend per Share $ 0.36 $ 0.36
Common Dividend (in millions) $ 2.8 $ 2.8
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(1) Per diluted common share calculations for both GAAP Comprehensive
Income/(Loss) and Earnings Available for Distribution are based on
weighted-average diluted shares of 7,745,779 and 7,622,488 for the
quarters ended June 30, 2026 and March 31, 2026, respectively. Book
Value per share is based on 7,772,564 common shares outstanding as of
June 30, 2026.
(2) Comprehensive Income/(Loss) is a GAAP financial measure that adjusts
GAAP Net Income/(Loss) by any unrealized gain (loss) on investment
securities measured at fair value through other comprehensive
income/(loss) and the related income tax effect, if any.
(3) Earnings Available for Distribution is a non-GAAP financial measure.
For a reconciliation of Earnings Available for Distribution to GAAP
Comprehensive Income/(Loss), as well as an explanation of this measure,
please refer to the section entitled "Non-GAAP Financial Measures and
Reconciliation to GAAP Comprehensive Income/(Loss)."
Additional Information
For additional information that management believes is useful for investors, please refer to the latest presentation posted on the Events & Presentations section of the Company's website, www.rithmpropertytrust.com. Information on, or accessible through, our website is not a part of, and is not incorporated into, this press release.
Earnings Conference Call
Rithm Property Trust's management will host a conference call at 5:00 P.M. Eastern Time on Tuesday, July 28, 2026, to review its second quarter 2026 results for the period ended June 30, 2026. A webcast of the conference call will be available to the public on a listen-only basis at the Company's website, www.rithmpropertytrust.com. Participants are encouraged to pre-register for the webcast at https://events.q4inc.com/attendee/8600001030. Please allow extra time prior to the call to visit the website and download any necessary software required to listen to the webcast.
RITHM PROPERTY TRUST INC. AND SUBSIDIARIES
Consolidated Statements of Operations (Unaudited)
($ in thousands except share and per share amounts)
Three Months Ended
-----------------------------------
June 30, 2026 March 31, 2026
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Net Interest Income
Interest income $ 12,335 $ 12,536
Interest expense (8,279) (8,908)
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Net interest income 4,056 3,628
Expenses
Related party loan servicing fee 557 466
Related party management fee 1,614 1,604
Professional fees 1,219 1,681
General and administrative 1,037 1,095
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Total expense 4,427 4,846
Other Income (Loss)
Realized and unrealized gains
(losses), net 2,959 (123)
Other loss, net (563) (653)
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Total other income (loss) 2,396 (776)
Income (Loss) before Income Taxes 2,025 (1,994)
Income tax expense (benefit) 20 (5)
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Net Income (Loss) 2,005 (1,989)
Net income attributable to the
noncontrolling interests -- 1
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Net Income (Loss) Attributable to
Rithm Property Trust Inc. 2,005 (1,990)
Dividends on preferred stock 1,290 1,290
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Net Income (Loss) Attributable to
Common Stockholders 715 (3,280)
Unrealized loss on
available-for-sale securities (210) (35)
Amortization of unrealized loss on
held-to-maturity securities 140 141
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Comprehensive Income (Loss) $ 645 $ (3,174)
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Net Income (Loss) per Share of Common
Stock
Basic $ 0.09 $ (0.43)
Diluted $ 0.09 $ (0.43)
Comprehensive Income (Loss) per Share
of Common Stock
Basic $ 0.08 $ (0.42)
Diluted $ 0.08 $ (0.42)
Weighted Average Number of Shares of
Common Stock Outstanding
Basic 7,745,779 7,622,488
Diluted 7,745,779 7,622,488
RITHM PROPERTY TRUST INC. AND SUBSIDIARIES
Consolidated Balance Sheets (Unaudited)
($ in thousands except share and per share amounts)
June 30, 2026 March 31, 2026
--------------- ------------------
Assets
Cash and cash equivalents $ 66,703 $ 96,267
Restricted cash 411 547
Residential mortgage loans
held-for-investment, net 348,147 356,137
Residential mortgage loans
held-for-sale, net 16,072 28,450
Residential transition loans, at
fair value 117,730 --
Commercial mortgage-backed
securities, at fair value 84,365 151,301
Residential mortgage-backed
securities 189,837 189,685
CRE equity method investments 79,466 76,560
Other assets 26,013 31,699
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Total Assets $ 928,744 $ 930,646
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Liabilities and Equity
Liabilities
Secured bonds payable, net $ 212,249 $ 219,221
Repurchase financing agreements 311,341 309,418
Unsecured notes, net 108,938 108,722
Accrued expenses and other
liabilities 11,371 6,707
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Total Liabilities 643,899 644,068
Commitments and Contingencies
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 7,939,163 shares
issued and 7,772,564 and
7,661,770 shares outstanding,
respectively 78 77
Additional paid-in capital 430,298 427,081
Treasury stock (11,596) (11,596)
Accumulated deficit (182,654) (177,773)
Accumulated other comprehensive
loss (1,611) (1,541)
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Stockholders' Equity in Rithm
Property Trust Inc. 285,300 287,033
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Noncontrolling interests (455) (455)
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Total Stockholders' Equity 284,845 286,578
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