RPT · Rithm Property Trust Inc.

Rithm Property Trust Inc. reported a GAAP comprehensive loss of $(3.2) million for the first quarter ended March 31, 2026, or $(0.42) per diluted common share, compared to comprehensive income of $2.5 million in Q4 2025. The loss was driven by net interest income of $3.6 million, slightly up from $3.4 million prior quarter, but exceeded by total expenses of $4.8 million, including related party management fee of $1.6 million, professional fees of $1.7 million, and general/administrative costs of $1.1 million. Other losses included a $0.1 million unrealized loss on residential mortgage loans held-for-sale and $0.7 million other loss, resulting in pre-tax loss of $2.0 million. Non-GAAP earnings available for distribution showed a narrower loss of $(0.3) million or $(0.04) per share, improved from $(0.5) million prior quarter, adjusting for realized/unrealized losses and other items. The company paid a $0.36 per share common dividend, totaling $2.8 million, maintaining the prior quarter level despite losses. Balance sheet reflected deleveraging with total assets at $930.6 million versus $1,041.5 million at year-end, driven by declines in commercial mortgage-backed securities to $151.3 million from $273.8 million and repurchase agreements to $309.4 million from $407.1 million. Book value stood at $30.83 per common share on 7.66 million shares outstanding. Management will discuss results on an April 24, 2026 conference call, with additional details in the website presentation.